ICICI Bank Profit Beats Estimates on Lending Growth

ICICI Bank Ltd., India’s second-largest private lender, posted first quarter profits that beat estimates, driven by growth in its business and corporate lending divisions.

Net income grew by 15.5% to 127.68 billion rupees ($1.5 billion) in the three months ended June from a year earlier, according to a statement on Saturday. That beat the average estimate of 119.85 billion rupees, based on a Bloomberg survey of analysts.