It appears the two banks are now convinced that increasing their credit card portfolios will not lead to significant erosion in asset quality.
ICICI Bank Ltd, India's biggest private sector lender, posted its slowest quarterly growth in four years as asset quality worsened and funds set aside for bad loans and contingencies almost doubled from a year earlier.
The securities -- Pass Through Certificates, backed by the new and used car receivables, originated from ICICI Bank and have been issued by Indian Retail ABS Trust under the bank's securitisation programme. Credit rating agency Crisil has assigned the high investment grade rating to these securities. The bank would assign the pool to the trust and will receive a purchase consideration equal to the pool's principal outstanding.
ICICI Bank on Monday jacked up auto loans by up to 0.75 per cent even before the RBI decided to increase statutory deposits last week as a part of inflation controlling measure.
This is the first time ICICI Bank has gone for a share split.
ICICI Bank on Tuesday introduced cash withdrawal facility at point of sale (PoS) terminals at merchant outlets.
On resolution of stressed cases, she said ICICI Bank has been taking the lead in several cases and was the first bank to refer a case to NCLT
It is essential to have a comprehensive motor policy, and not just a third-party cover, as the latter does not protect your own vehicle.
The Supreme Court on Tuesday questioned the CBI over not objecting to repeated extension of the two-week interim bail granted in January this year to former ICICI Bank CEO-cum-MD Chanda Kochhar and her businessman husband Deepak Kochhar in a loan fraud case. A bench of Justices Aniruddha Bose and Bela M Trivedi asked Additional Solicitor General SV Raju, appearing for the CBI, as to why the probe agency did not resist repeated extension of interim bail granted to them by the Bombay high court on January 9. "This order is of January 9 and interim bail was granted for only two weeks. Why have you not resisted? Why are you permitting it to continue for such a long period?
Credit rating agency ICRA is unlikely to revise its rating for ICICI Bank, but said it has 'taken note of the recent pressure' on the bank following panic withdrawal by depositors in some parts of Gujarat and Mumbai.
As milk prices rise, analysts have an optimistic view on dairy stocks such as Heritage Foods and Dodla Dairy, hoping the companies' margins will grow in the near to medium term. From a long-term perspective, they believe that a growing population, increasing disposable income and health consciousness will strengthen dairy consumption in India.
The bank got the share in lieu of repayment of loan.
ICICI Prudential Life Insurance Company has launched a completely online term insurance plan named 'iProtect' on Tuesday.
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.
Even as Finance Minister P Chidambaram has asserted that the real estate sector is overheating, the ICICI Bank today claimed that there is genuine demand for houses and people have only deferred their decision to buy property.
Located in the banking hub of Singapore's central business district, the branch office is the start of ICICI's retail operations in the country under a 25-branch qualified Full Banking licence given by the Monetary Authority of Singapore in April, Kochhar said.
ICICI Bank has extended its festive offer of low interest rates on retail loans in order to meet its target of 20 per cent retail credit growth in 2007-08, down from around 40 per cent growth recorded in the past two years.
Three years after launching its operations in Bahrain, ICICI bank has been granted a full commercial branch license and plans to expand
All the four listed private life insurance companies recorded a drop in value of new business (VNB) margin in the financial year 2023-24 (FY24) as compared to FY23. This is because of a higher share of unit-linked insurance plans (Ulips) in the product mix. VNB is a measure of the economic value of profits expected to emerge from a new business.
ICICI Lombard has bagged a contract from the railways to provide personal accident cover at a premium of just 4.75 paise per passenger. The personal accident cover is for a year starting from September 20, 2007.
As part of its efforts to rationalise costs and divest non-core assets, ICICI Bank has sold a property at Prabhadevi in central Mumbai.
ICICI Lombard has secured the top slot in new business collections among private general insurers in the first half of this fiscal.
All 463 branches of BoR has started functioning as ICICI Bank's as per the directive of the Reserve Bank of India.
The vigilance department of the Insurance Regulatory and Development Authority is looking into such complaints in Rajiv Gandhi Shilpi Swasthya Bima Yojana, Weather Insurance Scheme, Shetkari Apghati Durghatana Bima Yojana and Panjikrut Kishan Durghatana Bima Yojana, according to a letter written by IRDA to Finance Ministry on its ongoing probe.
ICICI Bank has opened a branch in Jhajjar district of Haryana to advise farmers how to reinvest the huge cash they are receiving on sale of land to Reliance Industries for its SEZ in the area.
The country's largest private sector lender ICICI Bank on Friday said it has raised $500 million through an issue of bonds in the international market.
The country's largest private sector lender ICICI Bank on Friday said it has raised $500 million through an issue of bonds in the international market.
No comments could be obtained from either ICICI Bank or Bank of Rajasthan. Pravin Tayal, the key promoter of the Bank of Rajasthan, could not be contacted for comments.
The top three mutual funds (MFs) paid out 10-18 per cent higher commissions to distributors during the financial year 2022-23 (FY23) compared to FY22 as a sustained rise in flows from the systematic investment plan (SIP) route boosted distributors' share in the assets under management (AUM), according to an analysis of the disclosures by the top three fund houses. State Bank of India (SBI) MF saw its commission payout go up 18 per cent year-on-year (YoY) to Rs 1,675 crore. The payouts rose 10 per cent and 15 per cent for ICICI Prudential MF and HDFC MF, respectively.
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Kochhar is required to assist the investigating officer of the case in taking the probe forward and her statement will be recorded under the Prevention of Money Laundering Act (PMLA).
They will also have access to banking channels such as ATM, mobile and Internet banking.
Private players continued to show strong momentum in the life insurance individual new business segment during August, 2023. On an aggregate, the industry registered 14 per cent growth year-on-year (Y-o-Y) compared to 15 per cent in July '23. Private players were up 21 per cent Y-o-Y, up from 16 per cent Y-o-Y in July '23, while public insurers' growth was muted at 3 per cent.
Standard Chartered's India strategy will focus on wealth management while credit card will remain core to its business though will avoid competition with the country's private banks, said a senior executive of the British lender. "Our focus on wealth management and affluent clients are central to our existence. "We are strong in these areas and we want to grow in these areas.
The net non-performing assets on December 31, 2016 were Rs 20,155 crore compared to Rs 16,483 crore at September 30, 2016
