ICICI Bank Share Price Slips Ahead Of March Quarter Earnings

ICICI Bank shares were swinging between gains and losses ahead of January-March quarter and financial year 2018-19 earnings. ICICI Bank share price fell as much as 0.98 per cent on the BSE and on the National Stock Exchange, ICICI Bank share price fell as much as 1.77 per cent to Rs 396.50. ICICI Bank, the country's second largest private sector lender after HDFC Bank by market value (market capitalisation), is expected to announce January-March quarter earnings later in the day.

ICICI Bank's net profit in the October-December quarter fell 2.74 per cent to Rs 1,604.91 crore from Rs 1,650 crore during the same period last year. Its net interest income came in at Rs 6,875 crore compared with Rs 5,705 crore, an increase of 20.50 per cent year-on-year.

ICICI Bank's profit in the previous quarter fell on account of higher provisioning for bad loans. The bank provided for Rs 4,244 crore for bad loans in December quarter compared with Rs 3,994.29 crore provided in the September quarter.

Its gross non-performing assets as a percentage of total advances came in at 7.75 per cent versus 8.54 per cent in the previous quarter.

In today's trading session, ICICI Bank shares witnessed lower trading volume in today's session as 4.31 lakh shares changed hands on the BSE compared with an average of 9.51 lakh shares traded daily in the past two weeks.

In the January-March quarter ICICI Bank shares have risen 11.2 per cent compared with a jump of 7 per cent in the Nifty 50 Index.