ICICI Bank continues to surprise negatively on core operating performance and asset quality front in 2QFY17. After adjusting one-time gain on ICICI Pru Life IPO, the Bank's operating profit declined 5% qoq, while asset quality continued to deteriorate with Rs80.3bn fresh slippages compared to Rs82.5bn in 1QFY17 & Rs22.4bn in 2QFY16. Major proportions of gross slippages came from Wholesale & SME segments, which were part of its standard restructured loan and watch list portfolio. Further, it has created an additional provisioning of Rs36bn in 2QFY16 towards these exposures out of Rs5.7bn one-time gain from stake sale in ICICI Pru Life (after adjusting for...