ICICI Bank CEO: credit demand seen up 16-20 pct in FY11

MUMBAI, April 24 (BestGrowthStock) – ICICI Bank (ICBK.BO: ), India’s
second-largest lender, expects credit demand to grow by 16-20
percent in the year to March 2011, its chief executive said on
Saturday.

Chanda Kochhar said the bank would see a reduction in bad
loan provisions going forward.

Earlier, the bank reported a 35 percent rise in quarterly
profit to 10.06 billion rupees ($227 million). [ID:nSGE63L0HZ]
(Reporting by Sumeet Chatterjee; Editing by Ian Geoghegan)

ICICI Bank CEO: credit demand seen up 16-20 pct in FY11