Private sector lender, ICICI Bank, on Friday reported a surprise loss of Rs 119.5 crore compared to a profit of Rs 2,049 crore in the first quarter of current fiscal on higher provisions for bad loans and treasury losses.

The core operating profit (profit before provisions and tax, excluding treasury income) grew by 17 percent year-on-year to Rs 5,042 crore in the quarter ended June 30, 2018.

India's third-largest lender by assets, reported gross bad loans as a percentage of total loans at 8.81 percent at the end of June, compared with 8.84 percent at the end of the previous quarter and 7.99 percent a year earlier.

The domestic loan growth was at 15 percent year-on-year in first quarter 2018

driven by retail loans which grew by 20 percent year-on-year and constituted 58 percent of the total loan portfolio at June 30, 2018 compared to 47 percent at March 31, 2016.

(With inputs from Reuters)

First Published:Jul 27, 2018 6:05 PM IST