ICICI Bank lost 2.63% to Rs 224.05 at 10:41 IST on BSE, extending Friday's fall after the bank's bad loans rose sequentially and annually in Q3 December 2015.
Meanwhile, the BSE Sensex was up 97.04 points, or 0.39%, to 24,967.73
On BSE, so far 4.24 lakh shares were traded in the counter, compared with an average volume of 10.80 lakh shares in the past one quarter. The stock hit a low of Rs 222 so far during the day, which is also a 52-week low for the counter. The stock hit a high of Rs 229 so far during the day. The stock hit a 52-week high of Rs 383.90 on 30 January 2015. The stock had underperformed the market over the past one month till 29 January 2016, sliding 13.24% compared with 4.64% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 15.23% as against Sensex's 7.33% fall
The large-cap private sector bank has an equity capital of Rs 1162.48 crore. Face value per share is Rs 2.
Shares of ICICI Bank fell 1.22% to settle at Rs 230.10 on 29 January 2016 after the bank announced Q3 December 2015 result after market hours on 28 January 2016.
ICICI Bank's net profit rose 4.46% to Rs 3018.13 crore on 13.11% rise in total income to Rs 17562.95 crore in Q3 December 2015 over Q3 December 2014.
ICICI Bank's gross non-performing assets (NPA) rose to Rs 21149.19 crore as on 31 December 2015 from Rs 15857.82 crore as on 30 September 2015 and Rs 13082.62 crore as on 31 December 2014. The bank's ratio of gross NPAs to gross advances stood at 4.72% as on 31 December 2015, compared with 3.77% as on 30 September 2015 and 3.4% as on 31 December 2014. The bank's ratio of net non-performing assets (NPAs) to net advances rose to 2.28% as on 31 December 2015, compared with 1.65% as on 30 September 2015 and 1.27% as on 31 December 2014. Provisions and contingencies jumped 190.3% to Rs 2844.05 crore in Q3 December 2015 over Q3 December 2014. The provisioning coverage ratio as on 31 December 2015 stood at 53.2%.
ICICI Bank said that the increase in non-performing assets was primarily due to the decline and continuing weakness in the global steel cycle. Another reason for the increase in non-performing assets was the Reserve Bank of India (RBI) directing Indian banks to review certain loan accounts and their classification over a period of two quarters viz. Q3 December 2015 and Q4 March 2016 with the objective of early recognition of stress assets and to make provisions to cover them.
ICICI Bank is one of the leading private sector banks in India.
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