ICICI Bank posts smallest profit in seven quarters

(Reuters) - ICICI Bank, India's third-largest lender by assets, reported its smallest profit in seven quarters on lower treasury income and as provisions rose from a year earlier but said bad loan additions were slowing.Net profit for the three months to Dec. 31 fell 32 percent year on year to 16.5 billion rupees ($259.

4 million), the bank said on Wednesday. That compared with a 19.54 billion rupees average forecast from 24 analysts, Thomson Reuters data shows.Soured loans have nearly doubled at Indian banks over the past four years as a prolonged.

This article is no longer available in our repository.

There could be multiple reasons for this.