Treasury gains helped ICICI Bank post a nearly 10 per cent increase in the consolidated net profit for the April-June quarter at Rs 11,696 crore on Saturday. Growth in the core income slowed for the country's second largest private sector lender, but the treasury operations helped it report a 14.62 per cent rise in its post-tax profit at Rs 11,059 crore on a standalone basis. The core net interest income (NII) growth came at a multi quarter low of 7.3 per cent to Rs 19,553 crore for the reporting quarter.
The bank has received authorisation to collect funds for PPF at branches mandated by the ministry of finance, ICICI Bank said in a release in Mumbai on Friday.
From the 30-Sensex firms, Tata Consultancy Services, Asian Paints, Maruti, Sun Pharma, Hindustan Unilever, ICICI Bank, Kotak Mahindra Bank, Tech Mahindra, HDFC Bank and Larsen & Toubro were among the biggest laggards. On the other hand, Tata Steel, NTPC, Axis Bank and UltraTech Cement were among the gainers.
The banking sector could see better loan growth in the third quarter of financial year 2026 (Q3FY26) with improved net interest margins (NIMs), though the full impact of latest rate cuts will be largely felt in the fourth quarter. There may be lower slippage in unsecured loans and microfinance institutions (MFIs) along with steady recovery trends, which should lower credit cost.
On Friday, the bank's offices and ATMs in Gujarat were faced with anxious customers and a spate of withdrawals as rumours of its viability spread.
ICICI Bank will honour top retailers and professionals for their innovations to satisfy and retain customers apart from increasing profits on Thursday.
A case has been registered against Karvy Stock Broking Ltd promoter C Parthasarathy and others for allegedly cheating ICICI Bank to the tune of Rs 563 crore.
In a bid to tap the growing potential of mutual fund business in the country, ICICI Bank has decided to raise its stake in Prudential ICICI Asset Management Company to 51 per cent, by buying out six per cent stake from Prudential Plc.
From the Sensex firms, Eternal, NTPC, Kotak Mahindra Bank, ICICI Bank, Bajaj Finserv, Power Grid, Trent and HDFC Bank were among the major laggards. However, Bharat Electronics, Larsen & Toubro, Tata Consultancy Services, ITC and State Bank of India were the gainers.
Move comes as stringent regulation chokes biz growth.
The bank has fixed the issue price of its American Depository Shares at $26.75 per ADS.
The bank is using readily available satellite images from ISRO and NASA for the purpose, and plans to scale up to 63,000 villages in the next three months.
Indian stock market benchmarks Sensex and Nifty rebounded strongly after a two-day decline, driven by falling crude oil prices and positive global cues amid hopes of de-escalation in the Middle East.
MD Chanda Kochhar says the facility 'has the potential to increase security and convenience'
The public issue of equity shares of ICICI Bank in India, of Rs 5,000 crore (Rs 50 billion) with a greenshoe option of Rs 750 crore (Rs 7.50 billion) will open for bidding through the book building route from December 1 to December 6.
The consolidated net rose 22 per cent year-on-year.
They will also have access to banking channels such as ATM, mobile and Internet banking.
The BSE Sensex and the Nifty 50 declined around 4.5 per cent each since the start of the West Asia conflict.
A day after downgrading its rating of public sector lender SBI's financial strength, Moody's on Wednesday re-affirmed its rating for ICICI Bank and said the private sector lender continues to maintain a robust franchise and a strong liquidity, capitalisation and earnings profile.
ICICI Bank, the country's largest private sector lender, has introduced an equated monthly instalment (EMI) option for its customers on debit card purchases.
We are clearly focused on increasing our loan book in segments such as auto loans, home loans, commercial vehicles finance and corporate loans, says Chanda Kochhar.
The bank has 1.8 lakh customers with no-frills accounts, which provide basic banking services without the need to maintain a large minimum balance.
Chidambaram clears holding company for insurance & mutual fund subject to RBI clearance.
Among the Sensex constituents, Asian Paints, Tech Mahindra, HCL Technologies, Tata Steel, Maruti Suzuki India, Sun Pharmaceuticals, Tata Consultancy Services, ICICI Bank, Bajaj Finance, UltraTech Cement, Mahindra & Mahindra and Tata Motors Passenger Vehicles were the laggards. However, Eternal, Titan, Adani Ports, Bharat Electronics Ltd, State Bank of India, Bajaj Finserv, NTPC and Bharti Airtel were among the gainers.
Sectoral funds, focused exclusively on public sector banks (PSBs), have delivered the strongest returns among domestic mutual fund (MF) categories over the past six months. However, active banking funds have significantly lagged because of their heavy tilt towards private lenders.
While affirming the bank financial strength rating and a stable outlook on all ratings, Moody's said in its rating action note that the long-term bank deposit and senior unsecured debt ratings for ICICI Bank UK are being changed from Baa1 to Baa2, which is similar to the Indian parent's senior debt rating.
Despite the Finance Minister asking public sector banks not to hike home loan rates, top private sector lender ICICI Bank, accounting for 30 per cent of home loans, has said all lenders would have to increase rates for their own survival.
FinMin added the Capital Adequacy Ratio of each bank is above 10 per cent, well above the regulatory requirement of nine per cent.
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.
In addition, he will have to move swiftly to control any damage that may have been caused to the bank's image and investor confidence due to the loan controversy
This is the first time ICICI Bank has gone for a share split.
Benchmark stock indices Sensex and Nifty closed on a flat note in a choppy session on Wednesday as gains in PSU banks and auto shares were offset by losses in IT stocks.
ICICI Bank plans to raise Rs 5,000 crore (Rs 50 billion) through long term bonds and has obtained highest safety rating "LAAA" from ICRA.
The country's second largest lender ICICI Bank on Tuesday said it has not raised home loan rates from August 1 and will take a view only if cost of funds goes up.
ICICI Bank on Saturday reported 24.7 per cent rise in consolidated net profit at Rs 6,092 crore for September quarter 2021-22. The private sector lender had posted a net profit of Rs 4,882 crore in the same quarter of the previous fiscal year. Total income however grew marginally to Rs 39,484.50 crore in the quarter from Rs 39,289.60 crore in the same period of 2020-21, ICICI Bank said in a regulatory filing.
Luxury carmaker BMW India and ICICI Bank signed an agreement on Friday for offering financing solutions.
The board has decided to appoint Sandeep Bakhshi as managing director and chief executive officer. His appointment will be for a period of five years until October 3, 2023, subject to various approvals.
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