Country's largest private lender ICICI Bank has said that its credit will grow at a hefty 18 per cent this fiscal, contrary to a meagre 1.8 per cent expansion in the first half, largely on account of buoyant corporate and retail businesses.
ICICI Bank had posted a 19 per cent growth in net profit to Rs 1,236.27 crore during the second quarter. In the same period a year ago, it had witnessed a flat growth at Rs 1,040.13 crore. ICICI Bank asset grew just by 1.8 per cent during the first six months of the current fiscal at Rs 1,94,200 crore against Rs 1,90,860 crore at the end of September, 2009.
RBI had earlier this month raised key rates at which it lends (repo) and borrows (reverse repo) short-term capital from commercial banks by 25 basis points each in its bid to tame inflation.crackcrack
