ICICI Bank (ICICIBC) reported a mixed Q3. PAT at Rs 16.5 bn (down 32.4% YoY) was lower than expected despite a tax write-back. Loan growth accelerated to 10% YoY and asset quality improved marginally (GNPAs down 5 bps QoQ at 7.82%) with higher PCR (up 160 bps QoQ at 60.9%).