Top Indian private sector lender ICICI Bank, which owns nearly 68 percent of the insurer, is selling up to 181.34 million shares in the IPO.
ICICI OneSource, India's leading business process outsourcing on Tuesday announced the commencement of operations at its 400-seat facility in Buenos Aires, Argentina.
ICICI Bank said on Tuesday it has opened a representative office in Shanghai, China, its third overseas office after New York and Dubai.
Prudential ICICI Asset Management Company the investment manager to India's largest private sector mutual fund launched an innovative product, the Pru ICICI Advisor Series.
'Those satisfied with returns and not expecting further rally could be booking profits and also stopping SIPs.'
ICICI Bank, the country's largest private sector lender, has introduced an equated monthly instalment (EMI) option for its customers on debit card purchases.
Standard Chartered's India strategy will focus on wealth management while credit card will remain core to its business though will avoid competition with the country's private banks, said a senior executive of the British lender. "Our focus on wealth management and affluent clients are central to our existence. "We are strong in these areas and we want to grow in these areas.
The suspension is pending the bank's investigation into money laundering charges, sources in ICICI told PTI. The probe is expected to be completed in two weeks.
Such fixed-cum-floating housing loan schemes had disappeared from the market after the Reserve Bank of India expressed concerns that these products may affect banks' asset quality.
ICICI OneSource, one of India's leading business process outsourcing services providers and a member company of ICICI Bank
Vodafone Idea's (Vi's) subscriber loss reduced to a seven-month low in March, and alongside the company added 1.1 million broadband users after two months of net loss -- two things analysts have noted as key trends that need to be monitored. While Vi has been losing customers for more than two and a half years now, the churn reduced to below a million after five straight months in March, the Telecom Regulatory Authority of India (Trai) data has shown. "Jio's softer than usual subscriber growth in March, and VIL's slowing subscriber market share loss are key trends to keep an eye on going forward," global investment banking and financial services major UBS said in an analyst note.
ICICI Lombard has launched a hybrid weather-cum-satellite imagery-based insurance product in India to insure wheat crops.
ICICI Pru is barred from doing any further business with the state government or any of its departments.
For priority sector home loans below Rs 20-lakhs (Rs 2 million), the new interest rate will 9.75 per cent as against the earlier 10 per cent, an ICICI Bank spokesperson said.
ICICI Prudential Life Insurance on Monday said it will hike capital by Rs 50 crore to Rs 575 crore by the end of this fiscal, after posting over 170 per cent jump in business till September.
The top three mutual funds (MFs) paid out 10-18 per cent higher commissions to distributors during the financial year 2022-23 (FY23) compared to FY22 as a sustained rise in flows from the systematic investment plan (SIP) route boosted distributors' share in the assets under management (AUM), according to an analysis of the disclosures by the top three fund houses. State Bank of India (SBI) MF saw its commission payout go up 18 per cent year-on-year (YoY) to Rs 1,675 crore. The payouts rose 10 per cent and 15 per cent for ICICI Prudential MF and HDFC MF, respectively.
Biometric cards contain the details of policyholders such as name, age, address and finger prints. Besides helping the customers to pay their renewal premiums, the card will facilitate claim processing. It authorises transactions based on the customer's fingerprints.
ICICI Bank Ltd has set up a wholly owned banking subsidiary in Canada that would offer a range of products targeted at retail and commercial clients.
'Those trying to use these funds for quick gains should avoid them due to risk of being late to the party.'
Videsh Sanchar Nigam Ltd has inked a pact with ICICI Bank Ltd, whereby the private sector bank will distribute the former's Tata Indicom dial-up Internet services through its ATMs in the country.
Private players continued to show strong momentum in the life insurance individual new business segment during August, 2023. On an aggregate, the industry registered 14 per cent growth year-on-year (Y-o-Y) compared to 15 per cent in July '23. Private players were up 21 per cent Y-o-Y, up from 16 per cent Y-o-Y in July '23, while public insurers' growth was muted at 3 per cent.
ICICI Lombard outsmarted other private general insurers in the first two months of this fiscal by mopping up Rs 10,137 crore (Rs 101.37 billion) in premium income and cornering 3.27 per cent of the market share in April-May, 2003.
It appears the two banks are now convinced that increasing their credit card portfolios will not lead to significant erosion in asset quality.
ICICI Bank on Saturday launched the Visa 'mini card', India's first miniature-sized payment card.
ICICI Bank Ltd, India's biggest private sector lender, posted its slowest quarterly growth in four years as asset quality worsened and funds set aside for bad loans and contingencies almost doubled from a year earlier.
ICICI venture firm, RFCL Ltd acquired Alved Pharma and Foods. RFCL aims at banking on Alved's southern market in animal healthcare business.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
Mutual funds are looking to tap into the special opportunities theme ahead of the results of the general election results and the continued uncertainty on the geo-political and interest rate fronts. Two fund houses - WhiteOak Capital and Samco - are set to launch special opportunities funds next week. Kotak MF has also filed papers with the regulator to launch a scheme in the same category.
The securities -- Pass Through Certificates, backed by the new and used car receivables, originated from ICICI Bank and have been issued by Indian Retail ABS Trust under the bank's securitisation programme. Credit rating agency Crisil has assigned the high investment grade rating to these securities. The bank would assign the pool to the trust and will receive a purchase consideration equal to the pool's principal outstanding.
ICICI Bank on Monday jacked up auto loans by up to 0.75 per cent even before the RBI decided to increase statutory deposits last week as a part of inflation controlling measure.
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
This is the first time ICICI Bank has gone for a share split.
ICICI Bank on Tuesday introduced cash withdrawal facility at point of sale (PoS) terminals at merchant outlets.
However, total income of the bank on a consolidated basis rose to 31,914.82 crore as against Rs 30,190.54 crore a year ago.
The bank got the share in lieu of repayment of loan.
Credit rating agency ICRA is unlikely to revise its rating for ICICI Bank, but said it has 'taken note of the recent pressure' on the bank following panic withdrawal by depositors in some parts of Gujarat and Mumbai.
