ICICI Bank reported a soft quarter with no clarity on the asset quality ‘rabbit hole’ contrary to street’s expectation of things getting better. Outside watchlist (WL) slippage were high. No material information was offered on stress outside WL & credit cost guidance. Maintain Hold. Prefer Axis Bank in the private corporate banks. The total net stressed assets including drill-down exposures declined to 10.28% of net advances vs. 10.52% q-o-q. PCR improved only marginally to 41.4% q-o-q (vs. 47.1% in Q3FY17) in spite of partial recovery of the large cement account which slipped in Q4FY17 & had taken down the coverage to 40.2%.

ICICI Bank hit two-year high of Rs 315, up 1.6% on BSE in early morning trade, ahead of the release of its April-June (Q1FY18) results today.

The stock is currently trading at its highest level since March 13, 2015 and nearly 14% away from its all-time high of Rs 358 touched on January 28, 2015 in intra-day trade.

Largest private sector lender ICICI Bank will be selling personal loans of up to Rs 15 lakh through its ATMs that can be availed of by select salaried customers even if they haven't previously applied for one.

Using data from credit information companies, the lender will pre-qualify select customers for personal loans.

ICICI Bank was trading higher by 1% at Rs 295, recovering nearly 2% from its early morning low of Rs 289 on the BSE. The stock of private sector lender adjusted for 1:10 bonus shares and for dividend of Rs 2.5 per share.

The board of directors of the bank on May 3, announced issue of bonus shares (including ADS holders) in the ratio of 1:10 i.e. one equity share of Rs 2 each for every 10 fully paid-up equity shares held on the record date. The board also recommended a dividend of Rs 2.5 per share for FY2017 pre-bonus issue.

Private sector lender ICICI Bank on Tuesday increased its authorised capital by Rs 775 crore to Rs 2,500 crore.

“The authorised capital of the company shall be Rs 2,500 crore divided in to 1,000 crore equity shares of Rs 2 each, Rs 150,00,000 shares of Rs 100 each and 350 shares of Rs 100,00,000 crore each with rights privileges and conditions attached thereto...,” the company said in a regulatory filing.

ICICI Bank and Fairfax Financial Holdings will sell a part of their stakes in ICICI Lombard General Insurance Company in the latter’s initial public offering (IPO) of equity, to monetise their investment. ICICI Lombard is a joint venture (JV) between the bank and the Canada-based financial holdings company, founded and led by Prem Watsa, a magnate of Indian origin.

Following other prominent banks, the country's third largest private sector lender Axis Bank on Thursday announced 30 basis points (bps) reduction in its home loan interest rates to promote affordable housing finance.

"Taking forward its commitment towards affordable housing finance, the bank has revised its rates for home loans up to Rs 30 lakh for the salaried segment to 8.35 per cent, the lowest in the industry," the bank said in a statement here.

ICICI Bank, Hindustan Unilever, State Bank of India (SBI), JBF Industries, Sintex Industries, Ceat and Finolex Industries are among 34 stocks from the S&P BSE500 index that hit their respective 52-week highs in otherwise range-bound market.

Bajaj Finance, Adani Transmission, DLF, Engineers India, Godrej Industries, Uflex, JSW Steel, Monsanto India, Sobha and Motilal Oswal Financial Services were also trading at their 52-week highs on BSE in intra-day trade.

The war for attracting customers for affordable housing loans intensified on Monday after ICICI Bank and HDFC Ltd. reduced their interest rates by up to 0.3 per cent for loans of up to Rs 30 lakh to promote affordable housing.

New home loans rates for up to Rs 30 lakh for women will be 8.35 per cent and for other others, 8.40 per cent, mortgage lender HDFC Ltd said in a statement.

New Delhi: ICICI Bank Ltd, India’s largest private sector bank, on Monday slashed interest rates by up to 30 basis points for borrowers availing home loans up to Rs30 lakh.

ICICI’s decision comes close on the heels of the State Bank of India and LIC Housing Finance reducing their home loan interest rates.

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