The bank saw loans worth Rs 7,000 crore (Rs 70 billion) slipping into NPAs during the March quarter, taking the gross NPA ratio to 5.82 per cent.
Shah Rukh Khan's image and popularity with the Non-Resident Indian segment will further reinforce ICICI Bank's global identity, the bank said in a statement.\n
The sector's IPO pipeline is led by Tata Capital's Rs 17,000 crore issue, followed by ICICI Prudential Asset Management at Rs 10,200 crore and Billionbrains Garage Ventures at Rs 6,000 crore.
The reduction in goods & services tax (GST) on individual life and health insurance premiums has been called a "landmark step" for making insurance affordable and inclusive. In a panel discussion at the Business Standard BFSI Insight Summit 2025, Anup Bagchi, managing director (MD) & chief executive officer (CEO) of ICICI Prudential Life Insurance; Mahesh Balasubramanian, MD & CEO of Kotak Life Insurance; Tarun Chugh, MD & CEO of Bajaj Life Insurance; and Ratnakar Patnaik, MD of Life Insurance Corporation of India (LIC), listed what else the industry needs to reach more people.
Moreover, all her existing and future entitlements such as any unpaid amounts, unpaid bonuses or increments, unvested and vested and unexercised stock options, and medical benefits will be revoked.
ICICI Bank has asked the government not to take into account overseas securities like ADR and GDR when deciding on whether a bank is Indian or foreign.
This marks the strongest DRHP filing tally since 1996, when 428 firms sought to enter India's equity markets.
More than a third of 83 mainboard IPOs this year ended their debut sessions in the red, with losses of up to 35 per cent.
'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.'
"ICICI Bank is aware that rumours are being repeatedly being circulated in certain centres regarding the financial strength of the bank. The bank states that these rumours are baseless and malicious," ICICI Bank CEO and Managing Director K V Kamath said on Tuesday.
The 30-share Sensex ended down 208 points at 28,261 and the 50-share Nifty closed 64 points lower at 8,571.
ICICI Bank, which will see its presence in western India grow with the acquisition of Bank of Rajasthan, has said no to foreign takeovers as it wants to focus on becoming India's top bank in terms of profitability and productivity.
The country's largest private sector lender, ICICI Bank, today said credit offtake will pick from July putting pressure on lending rates.
Several executives argue that UPI has the potential to grow tenfold, but warn that the absence of a monetisation model risks stagnating the real-time payments system, which has been recording all-time-high transaction volumes every year.
Some of the key names include: Maruti, M&M, Ashok Leyland, Britannia, Ultratech, JK Cement, Havells, Voltas, Amber, Metro, Trent, LemonTree, Indian Hotels, Niva Bupa, HDFC Life, IGL, Acme Solar, Suzlon, Swiggy, Delhivery, ICICI Bank, HDFC Bank, Bajaj Finance, Shriram Finance," according to a report by Motilal Oswal Financial Services.
State Bank of India and ICICI Bank, two of India's largest banks, on Tuesday said that there would be no immediate hike in interest rates due to the Reserve Bank of India's decision to increase the cash reserve ratio in banks to curb inflation.
ICICI Lombard General Insurance Company Ltd will consider an initial public offering on reaching an overall market share of around 10 per cent even as ICICI Prudential Life Insurance plans to increase its capital base in the current fiscal.
Kochhar retires by rotation, and being eligible, has offered herself for reappointment as director, said the broking arm in a notice for its Annual General Meeting to be held on August 30
These are the highest-earning bank CEOs in India.
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 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.
Asked about top Swiss bank UBS AG, reeling under criticism for sheltering American tax evaders, agreeing to US government's demand for disclosure, Kochhar generally hedged queries saying Indian banks were not in that kind of business. Black money had become a major issue in the run up to the Lok Sabha polls in April-May, with BJP leader L K Advani claiming that $500 billion of Indian money was stashed in banks abroad.
Chanda Kochhar, who was arrested for a cash-for-loan scam on Friday, was once a powerful banker and instrumental in making ICICI Bank the country's biggest private sector lender. Kochhar, a regular feature on Forbes top global honchos lists, was arrested by the Central Bureau of Investigation (CBI) along with her husband Deepak Kochhar in connection with alleged cheating and irregularities in loans sanctioned by ICICI Bank to Videocon Group companies. Kochhars were called to the agency headquarters and arrested after a brief questioning session. Her chapter at ICICI Bank ended abruptly in 2018 when the board of directors approved a request from Kochhar to seek early retirement following allegation of corruption and quid pro-quo while extending loans to the now bankrupt Videocon Industries.
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.
The Bombay high court granted interim bail to Videocon Group founder Venugopal Dhoot on Friday, nearly a month after he was arrested by the Central Bureau of Investigation (CBI) in the ICICI Bank-Videocon loan fraud case. A division bench of Justices Revati Mohite Dere and P K Chavan granted bail to Dhoot on a surety of Rs one lakh. The court permitted him to furnish cash bail and then deposit the surety amount two weeks thereafter.
'If through growth and serving the customer we become number one, we will be very happy and very proud.'
However, the remuneration of Puri and Kochhar are not strictly comparable as the two banks follow different accounting practices.
ICICI Bank, the country's largest private sector lender, has revised allowances paid to its executive directors, including that of its managing director and CEO Chanda Kochhar.
ICICI Bank Ltd on Wednesday opened its first overseas offshore branch in Singapore.
For over a decade, HDFC Bank consistently outperformed industry growth rates in both deposits and advances, maintaining impeccable asset quality. Amid a landscape where other banks struggled with soaring non-performing assets (NPAs), HDFC Bank thrived, eventually surpassing ICICI Bank to become the largest private sector lender in India. Its net interest margin (NIM) remained stable in the range of 4.1-4.4 per cent.
She received nearly 97.7 per cent of the votes in favour of her re-appointment, while nearly 2.32 per cent votes were cast against her
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
Chanda Kochhar has said the lender would consider rewarding its employees with bonus, which it skipped last year on account of poor performance.
ICICI Bank on Friday reshuffled its management as Nachiket Mor, an executive director, decided to quit. The board, at its meeting on Friday, promoted deputy managing director Chanda Kochhar as the joint managing director and chief financial officer (CFO) of the bank. The incumbent Group CFO Vishakha Mulye has been made executive director of the bank's subsidiary, ICICI Lombard General Insurance.
Ranjan was nominated to the board of ICICI Bank on April 7
"The corporate pipeline is still strong, which will lead growth. We expect to maintain a 15-16 per cent year-on-year credit growth," ICICI Bank's Joint Managing Director Chanda Kochhar told reporters in Mumbai on Tuesday. On ICICI Bank's microfinance portfolio, she said that the bank has covered more than 3-million customers under this portfolio.
Sandeep Bakhshi named chief operating officer, who would be handling all the businesses.
Private banks' net profit grew 26.3 per cent year-on-year (Y-o-Y) to Rs 48,982 crore in the first quarter ended June 2024 (Q1FY25) owing to healthy growth in credit and other income. The gross non-performing assets (GNPAs) increased with the end of dispensation granted during the pandemic, according to the data compiled by BS Research Bureau for listed 18 private banks.
After the latest rout, the American depositary receipt (ADR) premium of HDFC Bank to its local shares has shrunk to nearly zero. Shares of HDFC Bank on Thursday fell 3.1 per cent to Rs 1,490, extending its two-day decline to 11 per cent. Meanwhile, the ADR has slumped over 15 per cent in the past two trading sessions.
Public sector lenders Canara Bank, Corporation Bank and Allahabad Bank have decided to lower interest rates on housing loans, preferring to keep their prime lending rates (PLRs) unchanged. ICICI Bank Managing Director and Chief Executive Officer K V Kamath has indicated that the country's second largest bank would review interest rates only in 2008-09.
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