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

MUMBAI, April 24 (Reuters) - ICICI Bank, India's second-largest lender, expects credit demand to grow by 16 to 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 loans provision going forward. Earlier, the bank reported a 35 percent rise in quarterly profit to 10.06 billion rupees ($227 million).

(Reporting by Sumeet Chatterjee; Editing by William Hardy)

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