"Our business is growing between 18 to 20 per cent and we are also adding branches... it's expected that we would hire between five and six thousand people in our workforce," the bank's managing director and chief executive Chanda Kochhar told reporters.
The country's largest private sector lender, ICICI Bank, on Thursday slashed its benchmark lending rate by 50 basis points to 15.75 per cent, a move that would benefit the bank's home, auto, consumer and corporate loan borrowers.
Banks are depending more heavily on the market for certificates of deposit (CDs), whose worth climbed to a record Rs 5.75 trillion in the fortnight to January 15, owing to deposit tightness in the system.
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.
ICICI Bank has 317 branches in hitherto unbanked villages.
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.
Now you can get 'cash back' for paying the monthly instalment on your home loan.
Markets end in green with auto, banks on a steady climb.
With the 50 bps rate cut now more banks are expected to reduce their base rate.
Indian stock markets extended their gains for a second consecutive session, with the Sensex closing 736 points higher, driven by a global equity rally and a significant drop in crude oil prices following the finalisation of a peace deal between the US and Iran to end their 107-day conflict and reopen the Strait of Hormuz.
The initial public offer (IPO) of SBI Funds Management Ltd was fully subscribed on the second day of bidding, receiving bids for 1.17 times the shares on offer, with strong interest from non-institutional investors and anchor investors.
ICICI Bank Ltd on Friday said its equity issue aggregating upto Rs 3,500 crore (Rs 35 billion), including a green shoe option, will open on April 2.
NuPower will return loan with interest to consumer durables major by 2021
It is mission damage control and ICICI Bank is pulling out all the stops. Weighed down by persistent rumours over its health, the bank's top management will meet senior employees on Monday to reassure them about their future.
Indian benchmark indices, Sensex and Nifty, closed lower, primarily due to a sharp sell-off in IT stocks, a fresh surge in crude oil prices, and sustained outflows from foreign institutional investors. The Sensex dropped over 300 points, while the Nifty declined by 77.95 points.
In the coming days, other lenders are expected to initiate similar steps to recover their dues from the company, which is facing the prospects of a change of management. IFCI executives said that the company revoked the guarantee earlier this month to recover its dues amounting to Rs 95 crore from Maytas Infra.
The dispute centres around a coal supply deal in Western Australia.
ICICI Bank, the largest private sector lender in the country, has outpaced its rivals in growing its credit card base during financial year 2013-14 (April-March).
Microcredit Foundation of India, which is running microcredit programme in Tamil Nadu in partnership with ICICI Bank, has fixed a target of providing credit of over Rs1250 crore (Rs 12.5 billion) to one million women by March 2008.
It had lost 113 points in the previous two days.
Indian equity benchmark indices Sensex and Nifty rebounded in early trade, driven by buying in blue-chip stocks and a positive trend in Asian markets, with domestic institutional investors providing crucial support.
ICICI Bank puts up a good show in Q4.
Real estate major Parsvnath Developers may soon be able to reduce a significant chunk of its debt, thanks to certain corporate giants showing interest in buying a prime piece of property it owns in the national capital.
ICICI Bank on Thursday reported a 16.85 per cent rise in consolidated net profit to Rs 1,567.93 crore (Rs 15.67 billion) for the quarter ended March 31, 2011.
Benchmark equity indices Sensex and Nifty extended their gains for the second straight session on Monday, driven by optimism over the India-US trade deal and robust buying in public sector banks, consumer durables, and realty stocks.
The bank has increased its spreads or mark-up over base rate paid by a borrower by 0.10 per cent.
From the 30-Sensex firms, Tata Steel, Asian Paints, Trent, State Bank of India, Hindustan Unilever, UltraTech Cement, ICICI Bank and Bharti Airtel were among the gainers. On the other hand, Infosys, Bajaj Finance, Bharat Electronics, Larsen & Toubro and HDFC Bank were the laggards.
S&P Global Ratings warns that a sustained rise in crude oil prices to $130 per barrel could significantly slow India's economic growth, weaken fiscal metrics, and strain corporate and banking sector performance, potentially reducing growth by up to 80 basis points.
Other private banks also planning to employ bots soon
A potential US-Iran peace deal, expected to be signed on June 19, is anticipated to ease geopolitical stress and benefit various sectors, particularly in India, with analysts suggesting investors await finer details before making significant moves.
ICICI Bank, the country's largest private sector lender, which has identified infrastructure as one of its growth drivers, sees projects worth Rs 150,000 crore for achieving financial closure in the next three to four months.
Aditya Puri is one of the cleanest examples we have, in Indian corporate history, of a leader who understood early that the measure of his work was not what happened while he was in the chair. It was what would keep happening when he was no longer there, says Suresh M K.
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.
Reliance Industries cracked 4.42 per cent, while ITC, Kotak Mahindra Bank, InterGlobe Aviation, and HDFC Bank were also among the laggards. However, ICICI Bank, Sun Pharma, Hindustan Unilever, and State Bank of India were among the gainers.
From the 30 Sensex firms, Power Grid, ICICI Bank, Bharti Airtel, HDFC Bank, Kotak Mahindra Bank, Larsen & Toubro, Adani Ports and UltraTech Cement were among the laggards. Sun Pharma, Reliance Industries, Titan, HCL Technologies and Bajaj Finserv were among the biggest gainers.
Trading pattern in the stock market this week will largely depend on the ongoing Q3 earnings announcement from corporates, global trends, and foreign fund movement, analysts said. Moreover, geopolitical developments and any update on trade negotiations would also be keenly tracked by investors, experts noted.
ICICI Bank on Friday reported 13 per cent rise in consolidated net profit at Rs 2,698 crore (Rs 26.98 billion) for the second quarter ended September 30, 2013.
Total income declined to Rs 14,595.85 crore.
