ICICI Bank Ltd.

ICICI Bank, India's second largest lender, said that its loan growth in the 2010/11 financial year would beat an earlier forecast and rise to 18 percent on the back of the country's strong economic growth. Corporate and retail borrowings would boost lending from a July forecast of 15 per cent for the year ending March 2011, and in 2011/12, when loan growth was expected to be between 20-22 per cent.

The bank aims to keep a net interest margin (NIM) of at least 2.5 per cent as seen in its first-quarter results which ended in June, and was working on ways to improve it. The lender, which has a market value of $27 billion, reported a 17 per cent rise in its first-quarter net profit, in line with analyst forecasts, backed by strong loan growth from retail and corporate segments.The bank aims to maintain the low cost deposit ratio at around 40 per cent going forward, from 28 per cent recorded last year. The bank has permission from the Monetary Authority of Singapore to open up to 25 branches or points of retail.