Indian Banks Report Earnings, SBI and ICICI Profits Rise

India’s two largest banks reported their earnings last week. Both State Bank of India (SBI) the country’s biggest bank and ICICI Bank, the nations number two lender showed an increase in quarterly profits.

ICICI Bank, shares gained over 2.5% on Thursday after the lender reported a 1.1% rise in quarterly net profit. Net profit for the quarter ending September was Rs. 1,014 Crore (US$ 206.9 Million) up marginally from the same period a year earlier.

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