ICICI Bank Posts Higher Q3 Profit

ICICI Bank

reported better-than-expected profit for its third-quarter. ICICI Bank's quarterly net profit surged 13% to 25.32 billion rupees ($408 million), versus analysts' estimates of 24.69 billion rupees. The bank's net interest income rose 22% to 42.55 billion rupees, while income from trading jumped to 4.47 billion rupees versus 2.51 billion rupees. Its net interest margin widened to 3.32% from 3.07%. ICICI Bank shares closed at $33.73 yesterday.