Benchmark stock indices Sensex and Nifty closed higher on Thursday, helped by a rally in blue-chip Larsen & Toubro and the Economic Survey projecting the GDP growth of 6.8-7.2 per cent for the next fiscal.
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.
The total reserves increased to $701.3 billion on the back of a rise in foreign currency assets which increased by $9.6 billion to $560 billion during the reported week.
From the 30-Sensex firms, Larsen & Toubro, Tech Mahindra, Tata Consultancy Services, Reliance Industries, Tata Steel, and Trent were among the biggest laggards. On the other hand, Eternal, ICICI Bank, Bajaj Finance, and Bharat Electronics were the gainers.
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.
From the 30-Sensex firms, ITC tanked 9.69 per cent, following Bajaj Finance, Asian Paints, Bharat Electronics and ICICI Bank. In contrast, NTPC, Eternal, Mahindra & Mahindra, Larsen & Toubro and Power Grid were among the gainers.
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 reported good results for the October-December 2023 quarter (Q3), with 24 per cent year-on-year (Y-o-Y) growth in profit after tax (PAT). Net interest margin (NIM) dropped 10 bps quarter-on-quarter (Q-o-Q) to 4.43 per cent. Credit growth was at 19 per cent Y-o-Y (4 per cent Q-o-Q), while deposit growth was at 19 per cent Y-o-Y (3 per cent Q-o-Q).
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.
India's private-sector banks are likely to lose market share for a second consecutive year in 2025-26, as their loan books continue to expand much slower than overall bank credit.
Consensus continues to be cautious with analysts pointing towards tougher days ahead
Private sector banks slipped in market capitalisation (mcap) during the July-September quarter, underperforming their government-owned peers as trade uncertainties dragged market sentiment, said S&P Global Market Intelligence. According to its analysis, HDFC Bank shed 4.8 per cent in mcap during the third quarter, while ICICI Bank's dropped 6.7 per cent.
The overall market breadth was positive as 1,796 stocks advanced against 1,023 declining ones, on the BSE.
ICICI Bank, the country's second-largest bank on Friday hiked lending rates for new retail customers by 50 basis points and deposit rates by 50-100 basis points for deposits of 1-3 year maturities.
ICICI Bank has announced an increase of 1 per cent in its benchmark advance rate (I-BAR) and its floating reference rate for consumer loans, including home loans, with effective from February 9.
The cases under scanner include significant loan exposure of the bank to Videocon way back in 2012 and the alleged involvement of the Kochhar family in restructuring of that loan.
From the Sensex firms, Bharat Electronics, Mahindra & Mahindra, Titan, NTPC, State Bank of India, Adani Ports, Tata Motors Passenger Vehicles and Bajaj Finserv were among the major laggards. Tata Consultancy Services, ICICI Bank, Infosys and HDFC Bank were among the gainers.
The regulator in its notice alleged violations of the code of conduct because Chanda Kochhar reportedly had not disclosed the conflict of interest arising out of business dealings among ICICI Bank, Videocon and NuPower Renewables, led by her husband, Deepak Kochhar.
ICICI Bank has revised interest rates on non-resident external savings account and NRE fixed deposit by 0.61 per cent and 0.47 per cent respectively across various maturities.
The Non-Resident Indians (NRIs) living in the US, UK, Canada and Singapore can now avail the benefit of a lesser tax deduction on their Non-Resident fixed deposit with ICICI Bank, a top bank official said in Mumbai. The NRO FD Plus offers the benefit of concessional rate of tax deducted at source (TDS) under the Double Taxation Avoidance Agreement (DTAA) of India with these countries, ICICI Bank General Manager and Head NRI Services Manish Mishra said.
ICICI Bank, the country's second largest bank, has sold roughly 45 per cent of its sticky home loans to the Asset Reconstruction Company India Ltd (Arcil) in a first step towards creating a market for retail loans that have turned bad.ICICI Bank sold Rs 360 crore of non-performing home loans at a price around the book cost, confirmed Rajiv Sabharwal, senior general manager, ICICI Bank.
Taking strong exception to the ICICI Bank's use of goondas against a defaulter to recover a two-wheeler financed by it, a consumer court has asked the bank to refund him the entire cost of the vehicle and Rs 20,000 as compensation.
Hinting at easing of borrowing costs for retail and corporate customers, ICICI Bank's new chief Chanda Kochhar has expressed hope that interest rates could fall to single-digit level in the coming months.
The RBI said it had not found initial evidence of money laundering against the three banks.
The head of leading Indian bank ICICI Bank said on Monday he expected growth in the firm's retail business, which helped fuel better-than-expected third-quarter results, would continue into the fourth quarter.
The bank got the share in lieu of repayment of loan.
Sabare International, a Karur-based home furnishings company, has taken ICICI Bank to court over a foreign exchange derivative contract. The company has requested the Karur civil court to declare the contract void. This is the second company to have gone into a legal dispute with ICICI Bank after the Chennai-based Sundaram Multi Pap, which had alleged "mis-selling of certain foreign exchange derivative contracts for speculative purposes".
Amid criticism of its exposure to 'toxic' assets abroad, India's largest private sector lender ICICI Bank on Monday said its UK subsidiary has registered a $35 million (around Rs 160 crore) net loss for the half year ended September 30 on account of higher provisioning in its investments abroad.
State Bank of India, the nation's largest commercial bank, may cut the interest rates it offers on deposits, Chairman A K Purwar said on Monday.
The board of ICICI Bank, the country's second-largest lender, will take a final call on appointing a successor to K V Kamath, its present managing director and chief executive officer, next month.
From the 30-Sensex firms, Trent, Larsen & Toubro, Reliance Industries, InterGlobe Aviation, Maruti, ITC, Adani Ports and Bharat Electronics were among the biggest laggards. In contrast, Eternal, ICICI Bank, Tech Mahindra, State Bank of India and Tata Consultancy Services were among the gainers.
The RBI, according to the source, wants details on the procedure followed for credit appraisal by the bank while giving loans to Videocon.
IBoard defends MD on nepotism charges, quashes allegations; it also reviewed its internal processes and exposure to the Videocon group
Kochhar was directed to return about Rs 10 crore in cash bonuses she had received as CEO, and also give up close to 6 million shares of the bank she had as stock option, which was about Rs 350 crore.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances