ICICI Bank shares give up early gains; end flat

Shares of ICICI Bank gave up all its early gains and ended flat on the bourses Thursday.

The shares closed at Rs 364.25, falling 0.27 per cent on the BSE. During the day, it gained 3.10 per cent to Rs 376.60.

At NSE, shares declined 0.39 per cent to close at Rs 364.45.

ICICI Bank Wednesday reported improvement in its asset quality with gross non-performing assets (NPAs) falling to 7.75 per cent of gross loans at December-end 2018 compared to 7.82 per cent a year ago.

The bank posted 2.7 per cent decline in standalone net profit to Rs 1,604.91 crore for the third quarter ended December 2018.

It had registered Rs 1,650 crore net profit in the corresponding quarter of 2017-18.

Total income rose to Rs 20,163.25 crore during the quarter as compared to Rs 16,832.22 crore in the same period a year ago, ICICI Bank said in a statement.

Net NPAs, too, came down to 2.58 per cent of total advances from 4.20 per cent at December-end 2017.

Also, an independent enquiry panel Wednesday indicted former ICICI Bank chief Chanda Kochhar for violating regulations, with the bank deciding to stop all her unpaid retirement benefits and recover bonuses paid since 2009.