ProMIS Neurosciences Drops 9.82% Amid ICICI Bank's Strong Earnings

On July 22, 2025, ProMIS Neurosciences Inc. (ProMIS) experienced a significant drop of 9.82% in pre-market trading. This decline comes amidst a series of strategic moves and financial updates from ICICI Bank Limited, which could have influenced investor sentiment towards ProMIS.

ICICI Bank Limited, a major financial institution, recently announced its unaudited financial results for the quarter ended June 30, 2025. The bank reported a profit before tax excluding treasury of ₹15,690 crore, a 11.4% year-on-year increase. Core operating profit grew by 13.6% to ₹17,505 crore, and profit after tax increased by 15.5% to ₹12,768 crore. These strong financial results indicate robust performance and stability within the banking sector, which could have positively influenced market sentiment.

Additionally, ICICI Bank's acquisition of 100% shareholding in ICICI Prudential Pension Funds Management Company Limited (ICICI PFM) from ICICI Prudential Life Insurance Company Limited (ICICI Life) is a significant strategic move. This acquisition, subject to regulatory approvals, aims to enhance ICICI Bank's pension-focused offerings and capitalize on synergies. The transaction involves a cash consideration of ₹2,035.0 million, reflecting ICICI Bank's commitment to expanding its financial services portfolio.

The bank's capital adequacy ratio, including profits for the quarter, stands at 16.97%, well above the minimum regulatory requirements. This strong capital position underscores ICICI Bank's financial health and resilience, which could have reassured investors and contributed to the overall market stability.

However, the pre-market drop in ProMIS Neurosciences' stock price suggests that investors may be reacting to broader market dynamics or specific news related to ProMIS. The decline could be attributed to profit-taking after recent gains, concerns over the company's financial performance, or other factors not directly related to ICICI Bank's announcements.