ICICI Bank Ltd.

Private sector lender ICICI Bank with other financial biggies, including Bank of Baroda and Life Insurance Corporation is likely to set up an infrastructure debt fund (IDF) as a non-banking finance company (NBFC), country's first IDF under the company route. In the presence of the Finance Minister, Pranab Mukherjee, memorandum of understanding will be signed for this purpose on March 5, 2012.

IDF will be a mutual fund that would issue units. On the other hand, a company-based fund is an NBFC that would issue bonds to domestic as well as foreign investors. 

The bank has posted a jump of 20.26% in its net profit of Rs 1,728.10 crore for the quarter ended December 31, 2011 as compared to Rs 1,437.02 crore for the same quarter in the previous year. Total income has increased by 24.14% from Rs 8,444.75 crore for Q3FY11 to Rs 10,483.73 crore in the quarter under review.