On resolution of stressed cases, she said ICICI Bank has been taking the lead in several cases and was the first bank to refer a case to NCLT
Mukesh Ambani has got company of at least 29 fellow corporate executives, including four from his own group Reliance Industries, in terms of annual salaries running into crores of rupees for the latest fiscal.
The MD and CEO of ICICI speaks on how life will change and the bank's strategy going forward.
'We focused on de-risking our balance sheet but we are very clear that the steps we have taken over the past few years, about changing the proportion of the loan mix, improving the ratings of the incremental portfolio, and reducing the concentration risks have now created a strong position that will allow us to attain growth with stability.'
Videocon group promoter Venugopal Dhoot on Friday appeared before a court in Mumbai in the alleged ICICI Bank-Videocon money laundering case, and was granted bail.
Meanwhile, ICICI Bank chairman KV Kamath, however, said he expects interest rates to go up only towards of the end of this year.
The overall inflation in March fell to 5.96 per cent, much below Reserve Bank of India estimate.
The bank would take a call on the subject once the laws are amended to hike foreign direct investment in insurance sector from 26 per cent to 49 per cent, ICICI Bank CEO and managing director Chanda Kochhar told PTI. This would help create value for the stake holders, she clarified while pointing out that ICICI Bank's share price had increased three times in the last six months to about Rs 750 a share.
All India needs to do is focus on making its business environment more friendly.
The head of India's largest private sector bank, who is in Davos in this Swiss Alpine resort town for the World Economic Forum Annual Meeting, said that the central bank has already in its last policy statement, indicated monetary policy easing in the fourth quarter of the current fiscal.
In his statement to the Enforcement Directorate, Dhoot conceded that Rs 64 crore had been transferred to Deepak Kochhar's NuPower Renewables through a web of entities to allegedly acquire wind farm properties.
The RBI, in its third quarter monetary policy review, raised by 75 basis points (to 5.75 per cent) the mandatory deposits banks need to park with the apex bank to tame inflation. The move is likely to suck Rs 36,000 crore (Rs 360 billion) out from the system.
Describing the third quarterly performance of the bank as 'very positive', ICICI Bank managing director and CEO Chanda Kochhar said on Monday the bank has emerged stronger on all parameters recording an operating profit of 22 per cent minus treasury income.
The committee is considering 1,300 names for this year's awards from which it is likely to select 120.
The bank's overall exposure to the 40 select accounts referred by the Reserve Bank to be resolved under bankruptcy laws is Rs 15,229 crore
Markets regulator Sebi has ordered the attachment of bank and demat accounts as well as mutual fund holdings of Videocon Group founder Venugopal Dhoot to recover dues totalling Rs 5.16 lakh. The latest decision has been taken after Dhoot failed to pay the fine imposed on him in March by Sebi for not making disclosures about his interest in Supreme Energy as well as for not disclosing that Quality Techno Advisors Pvt Ltd (QTAPL) and Credential Finance Ltd (CFL) were related parties with respect to certain transactions. In an attachment notice on Monday, Sebi said the pending dues of Rs 5.16 lakh include the initial fine of Rs 5 lakh, interest of Rs 15,000 and a recovery cost of Rs 1,000.
Ranjan was nominated to the board of ICICI Bank on April 7
ICICI Bank on Wednesday said its credit card base has crossed the 2 million mark, making it the largest credit card issuer in the country.
The strong commitment to managing the government borrowing programme in a manner that is non-disruptive to markets and does not crowd out private sector investment should give confidence to market participants, ICICI bank's managing director & CEO, said.
Chanda Kochhar has been ranked as the most powerful woman in the Asia Pacific region by fortune magazine.
The managing director and CEO of India's second largest bank is already walking the talk by organising roadshows all over the world to showcase upcoming highway projects.
She said it is even more important in the changing dynamic world where the business environment also keeps on changing all the time.
The focus on rural areas ties in with the bank's strategy to use its branch network to source most of its loans, rather than direct sales agents. Its direct agriculture advances amounted to Rs 17,329 crore at the end of March 2010.
An app by the bank lets customers carry out a slew of banking functions via the social media site.
It was merely an obligation in the past, but financial inclusion has now turned into a big business opportunity for private banks.
"Clearly there is a slowdown in the number of deals. . . interest rates have gone up from eight per cent in the past to now 12 per cent and prices too have gone up but an asset bubble is not there," ICICI Bank Joint Managing Director Chanda Kochhar told PTI. She said that a correction was expected as the present slowdown was in number of deals and not so much in prices.
Chanda Kochhar, managing director and chief executive officer of ICICI Bank Ltd, the second biggest lender, expects loans to grow 16 per cent in the year to March and sees lending rates rising during the year.
These are the highest-earning bank CEOs in India.
The bank, which has suffered reverses following a massive spike in dud assets and also the dismissal of its chief executive Chanda Kochhar over governance issues, however, hinted that the worse is behind.
ICICI Bank chief Chanda Kochhar on Wednesday said "disruption" will happen in the industry due to technology and not because of the entry of new entities in the market.
HDFC Bank managing director Aditya Puri, ICICI Bank MD and CEO Chanda Kochhar, and Axis Bank MD and CEO Shikha Sharma did not receive their bonuses in full for financial year 2016-17
Shareholder advisory companies are raising eyebrows at the ICICI Bank board not being aware of Firstland's investment in NuPower
Chanda Kochhar has been named as the most powerful woman in business in India for the second consecutive year by Fortune Magazine.
ICICI Bank MD and CEO Chanda Kochhar has been ranked as the most powerful businesswoman in India for the third consecutive year by Fortune Magazine.
Interestingly, in March 2018, the same board of ICICI Bank had given a clean chit to Kochhar with full-backing and had said there was no question of favouritism, nepotism or conflicts of interest on her part in granting loans to Videocon Industries or any other company.
However, the remuneration of Puri and Kochhar are not strictly comparable as the two banks follow different accounting practices.
American technology giant Apple's chief executive Tim Cook on Wednesday met ICICI Bank's top brass at the country's largest private sector lender's corporate headquarters in Mumbai.
In an interview, Kochhar talks about how ICICI Bank had sensed the substantial rise in cross-border acquisitions by Indian companies and accordingly established presence overseas.
The bench posted the matter for further hearing to February 21 and asked police not to take action against the ICICI officials until then.
Six Indian women have made it to Asia's most powerful women list released by Forbes.
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