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India's ICICI Bank beats quarterly profit estimates on lower provisions for bad loans

MUMBAI, Oct 18 (Reuters) - Indian private lender ICICI Bank ICBK.NS reported a higher-than-expected profit for the second quarter on Saturday, as lower provisions against bad loans balanced out a fall in treasury income.

The country’s second-largest private lender by market capitalisation posted a standalone net profit of 123.59 billion Indian rupees ($1.40 billion) for the three months ended September, compared with 117.46 billion rupees a year earlier.

Analysts had expected a profit of 122.36 billion rupees, according to data compiled by LSEG.

($1 = 87.9740 Indian rupees)

 (Reporting by Ashwin Manikandan and Ira Dugal; Editing by Ronojoy Mazumdar)

 ((Ashwin.Manikandan@thomsonreuters.com;))

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