ICICI posts 34 pc increase in Q1 net profit

MUMBAI: ICICI Bank Ltd, the country''s second largest commercial bank posted a 34.51 per cent increase in net profit at Rs 340.20 crore for the quarter ended June 30, 2003 helped by increased retail lending and a drop in borrowing costs.
The bank recorded a net profit of Rs 252.9 crore in the corresponding period of the last year.
Total income wwas Rs 2,899.87 crore in the first quarter this year compared to Rs 2,854.62 in the corresponding period of the last year.