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ICICI Bank slips over 3% ahead of Q1 Results ; PAT likely to fall by 26%

Shares of ICICI Bank BSE -2.88 % slipped over 3 per cent in Friday’s trade ahead of its earnings for the quarter ended June 30. The private sector lender is expected to report 26.1 per cent year-on-year (YoY) drop in net profit at Rs 2,198 crore, analysts estimated in an ET Now Poll.

The bank had reported a net profit of Rs 2,976 crore for the same quarter last financial year.

ICICI Bank was trading 2.8 per cent lower at Rs 264.40. It hit a low of Rs 262.30 and a high of Rs 271.20 in afternoon trade.

Net interest income (NII) or the difference between interest earned and interest paid is likely to grow by 5 per cent to Rs 5,371 crore for the quarter compared with Rs 5,115 crore reported for the year-ago period, the poll showed.

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