Executive Director V Vaidyanathan will assume the position of managing director and chief executive officer of the bank's life insurance arm, ICICI Prudential. This slot had fallen vacant as Shikha Sharma decided to move to Axis Bank.
The rate, which has been reduced from 14.25 per cent, will benefit all existing home loan and auto loan customers, the bank said. Besides, the bank reduced it benchmark lending rate by half a percentage points to 16.75 per cent.
The bank's net profit fell to 2,232 crore for its fiscal first quarter to June 30.
ICICI Bank has reported a 44.67 per cent jump in net profit on a consolidated basis at Rs 336.89 crore (Rs 3.368 billion) for the first quarter ending June 30, 2003 as compared to Rs 232.86 crore (Rs 2.328 billion) for same quarter last fiscal.
new base rate will be effective Monday next, while the new retail lending rates will be effective today itself.
ICICI Bank Ltd has informed BSE that its board will consider the audited financial results for the third quarter ended December 31, 2002 at its forthcoming meeting to be held on January 31, 2003.
Among major Sensex gainers Bajaj Finserv rose the most by 1.42 per cent, Axis Bank gained 0.80 per cent, Infosys by 0.72 per cent, Mahindra & Mahindra by 0.60 per cent, Tata Motors by 0.55 per cent, Bajaj Finance by 0.53 per cent and Tata Steel by 0.52 per cent. Kotak Mahindra Bank, ICICI Bank, HCL Technologies, Bharti Airtel, Maruti Suzuki India, Trent Ltd and Tata Consultancy Services were the losers.
ICICI Bank, India's second biggest bank, has offered to lower the equated monthly installments for a large number of its borrowers by enhancing the tenure of their home loans.
A corporate lawyer said that this is the biggest failure of corporate governance in this country. He pointed out that American investors can even take the bank to court for giving false statements to stock exchanges and even file class action suits. Some even questioned how RBI overlooked Kochhar's misdeed.
The bank raised it floating rates from 12 per cent to 13 per cent, with the fixed rate being raised to 16.5 per cent from October 10.
Since January this year, RBI has cut the repo rate - at which it lends to commercial banks -- to a gross of 1.25 per cent.
Trading sentiment in the stock market this week will be guided by quarterly earning announcements from blue-chips such as Infosys and Bajaj Finance, the outcome of India-US trade talks and global cues, analysts said. Markets may on Monday react to the quarterly results of three heavyweights - Reliance Industries, HDFC Bank and ICICI Bank, an expert said.
Country's largest private lender ICICI Bank on Wednesday said it will raise up to Rs 8,750 crore (Rs 87.50 billion) through a Follow-on Public Offer in the domestic markets.
ICICI Bank is planning to increase its home loan rates by 50 basis points "anytime before the end of the current fiscal".
SBI was the top loser in the Sensex pack, shedding around 3 per cent, followed by Bajaj Finserv, Tech Mahindra, Sun Pharma, Bajaj Finance and Axis Bank. Nifty fell 143.60 points to 17,873.60.
ICICI Bank and HDFC Bank have effected a cut of up to 0.50 per cent in term deposit rates following tepid credit growth and ease in money market rates.
The net non-performing assets on December 31, 2016 were Rs 20,155 crore compared to Rs 16,483 crore at September 30, 2016
ICICI Bank is likely to disburse Rs 7,000 crore (Rs 70 billion) as agricultural lending in 2004-05 as against Rs 4,000 crore (Rs 40 billion) in the last fiscal.
Bank had no obligations to Perdaman, the judge said.
Of the existing set of potential leaders, Bakhshi was clearly the only choice as he beat out other high-level candidates that included executive directors Anup Bagchi, Vishakha Mulye, NS Kannan, and Vijay Chandok who were lacking the all-round game that Bakhshi has.
Country's largest lender State Bank of India (SBI) is looking to be among 10 top global banks in market capitalisation terms in the next five years, chairman CS Setty said on Wednesday. "The scope for value creation for the stakeholders is potentially very high. So the larger ambition is if the market supports whether we can be part of the top 10 global banks in terms of the market capitalisation (five years)," he said after listing of shares issued under Qualified Institutional Placement (QIP) at NSE.
Consolidated total income of the bank, whose share price recently tumbled on rumours of high exposure to overseas sub-prime loans, rose 12.56 per cent to Rs 15,590.46 crore during the quarter against Rs 13,850.57 crore for the same period last year.
The Sensex and the Nifty reached an intra-day high of 16,784 levels and 5,021 mark, respectively.
The country's largest private sector bank ICICI Bank said on Tuesday it does not expect a slowdown in credit growth following the hike of 0.25 per cent in overnight rates by the Reserve Bank of India.
ICICI Bank has posted a 23 per cent rise in its net profit at Rs 530.01 crore (Rs 5.3 billion) for the first quarter ended June 30, 2005 as against Rs 430.74 crore (Rs 4.3 billion) for the same quarter in 2004-05.
As she begins her second term as MD & CEO, Chanda Kochhar wants the bank to grow more than the industry not by taking on more risk but by building a strong base of customers and shunning the pell-mell marketing of credit card and personal loans to newcomers.
The country's second largest lender ICICI Bank Ltd on Thursday said it would raise upto Rs 5,750 crore (Rs 57.5 billion) through public offer of equity shares.\n
Leading private sector bank ICICI Bank will charge its customers Rs 5 per transaction from next month for transfer of funds over mobile phones, a service available for free as of now.
Its total income during the September quarter also slipped to Rs 30,191 crore, as against Rs 32,435 crore in the year-ago period
Such is her faith in ICICI Bank, its joint MD continues to invest all her savings in the bank's stock and remains unfazed by the hammering it has taken.
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.
Among Sensex firms, Tata Motors, Bharat Electronics, UltraTech Cement, Tech Mahindra, Mahindra & Mahindra, ICICI Bank, Tata Consultancy Services and Axis Bank were the major laggards. However, Power Grid, Hindustan Unilever, NTPC and HCL Tech were among the gainers.
From the Sensex pack, ITC, Hindustan Unilever, Mahindra & Mahindra, HDFC Bank, Eternal, Kotak Mahindra Bank, State Bank of India and ICICI Bank were the major gainers. IndusInd Bank, Power Grid, Bharti Airtel, Infosys, and Bajaj Finserv were among the laggards.
Systemically important banks are subjected to higher levels of supervision to prevent disruption to financial services in the event of any failure.
The boards of ICICI Bank and Bank of Rajasthan put their seal of approval on the share exchange formula arrived at last week, when India's largest private sector lender announced the move to amalgamate BoR with itself.
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