The ICICI Bank has posted a 12 percent hike in quarterly profit on fast retail loans growth.

ICICI bank said in a statement that the net profit has increased to Rs 3030 crore ($465 million) for its fiscal second quarter to September 30 from Rs 2,709 crore reported last year.

For the September quarter, the gross bad loans as a percentage of total loans were 3.77 percent against 3.68 percent in the previous three months.

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