India’s ICICI Bank reported Saturday after tax profit in its 2008 first fiscal quarter of $190 million, up 25 percent from $152 million in the same period a year ago. Total income rose 53 percent to $2.3 billion from $1.5 billion in the same quarter a year ago.
ICICI raised $4.9 billion during the quarter through a simultaneous public issue in India and issue of American Depository Shares (ADRs) in the U.S. The ADRs were down midday today 4.8 percent to $49.87. The symbol is IBN.
ICICI sold off nearly 17 percent of the business processing outsourcing and accounts receivable management firm First Source early this year.
View this content by subscribing
Please register to unlock this content
I already have an account. Log in
