ICICI Bank Surprises Analysts With Rs 120 Crore Loss In Q1

ICICI Bank Ltd, India's third-largest lender by assets, reported a surprise first-quarter net loss on Friday on higher provisions for bad loans and treasury losses. The bank made a net loss of Rs 120 crore ($17.47 million) in the three months to June 30, compared with a profit of Rs 2,049 crore a year earlier, it said in a statement. Analysts on average had expected a net profit of Rs 1,462 crore, according to Thomson Reuters I/B/E/S.