ICICI Bank Ltd posted a 50% decline in net profit for fiscal year 2018-19 at ₹3,363.30 crore because of higher expenses and provisions. The bank therefore saw improved asset quality on account of higher provisions. We are at the end of the asset quality cycle," said Sandeep Batra, executive director, ICICI Bank. The management of ICICI Bank expects to achieve a return on equity (RoE) of 15% by June 2020, improving from the current RoE of 3.2%. ICICI Bank lost 0.11% to close at ₹401.40 per share on Monday on the BSE, while the benchmark index, Sensex, lost 0.93% to close at 38,600.34 points.

Source: Mint May 06, 2019 18:56 UTC