The largest private sector lender is also looking to open a full-fledged branch in China, where it already has a representative office, managing director and CEO, Chanda Kochhar said during the bank's 19th annual general meeting in Vadodara.
"At best, the two can be called as Indian-controlled banks," DIPP secretary R P Singh said when asked about the government's stand in the wake of the two seeking clarifications on the matter.
Fitch Ratings has affirmed ICICI Bank's ratings at 'BB+' with a negative outlook and retained the lender's viability rating at BB. The negative outlook comes despite the agency recently revising upwards the operating environment outlook of domestic banks to stable from negative, citing better than expected recovery in business and economic activity following the COVID-19 second wave. Economic momentum and regulatory measures should support modest improvements in the domestic banks' financial profiles over the next 12-24 months, even though challenges remain the agency said in a late Monday note.
ICICI Bank has inked a pact with the Jammu and Kashmir Bank to share ATM network, providing the customers of both the banks access to about 2,000 ATMs in the country.
ICICI Bank has raised its interest rates on non-resident external rupee savings account, NRE fixed deposits and foreign currency non-resident deposits.
Top private sector lender ICICI Bank has decided to discontinue its co-branded credit card with Kingfisher Airlines in the wake of continued grounding of the debt-laden air carrier.
Three years after launching its operations in Bahrain, ICICI bank has been granted a full commercial branch license and plans to expand
Such fixed-cum-floating housing loan schemes had disappeared from the market after the Reserve Bank of India expressed concerns that these products may affect banks' asset quality.
Sundaram Multi Pap, a Mumbai-based paper stationery manufacturer, on Monday disowned exotic hedging contracts entered into with ICICI Bank, saying the bank had misled the company into taking derivatives positions much beyond their underlying export risks.
Indian benchmark indices, Sensex and Nifty, closed lower due to profit-taking after a four-day rally, influenced by weakness in Asian markets, with Trent shares tumbling over 12 per cent.
The Reserve Bank of India (RBI) has sent showcause notices to ICICI Bank, HDFC Bank and Axis Bank, the three private lenders named in the first of three Cobrapost 'sting' cases.
Indian benchmark equity indices, Sensex and Nifty, extended their winning streak for a third consecutive day, driven by a rally in IT stocks and global cues suggesting a more accommodative monetary policy after softer-than-expected US jobs data.
India's growing knowledge economy and rising consumer aspirations drove the growth of ICICI Bank, the country's most valuable lender, its CEO K V Kamath said.
The bank's total income grew 36 per cent to Rs 10,338.36 crore (Rs 7,581.46 crore). The fee income increased by 33 per cent to Rs 1,785 crore, from Rs 1,345 crore in the same period last year.
The country's largest private bank, ICICI Bank, on Friday said it is focussing on the home loan segment as the real estate segment is witnessing a comeback after the economic slowdown.
As part of its efforts to rationalise costs and divest non-core assets, ICICI Bank has sold a property at Prabhadevi in central Mumbai.
Amid a string of interest rate cuts by state-run banks since April 1, country's biggest private lender ICICI Bank today said chances of it reducing rates are less unless government bond yields come down.
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.
HDFC Bank said that Maitra was quoted out of context and it has already written to the magazine. It also called it unfortunate that the comments had hurt ICICI Bank.
Indian benchmark equity indices, Sensex and Nifty, saw gains in early trade, driven by strong performance in banking shares and positive sentiment from Asian markets, alongside optimism surrounding the ongoing US-China Summit.
The country's largest private lender ICICI Bank on Monday said that interest rates are expected to come down in the next one-and-a-half months.
Hari Pandey, who founded ICICI Bank in Canada in March 2003, is among the 11 awardees in various categories who would be felicitated at function here on Saturday, ICCC said.
ICICI Bank has cut floating benchmark lending rate for home loans by 50 basis points to 13.25 per cent and deposit rate by 25-50 basis points.
Both banks intend to tap German investors focused on emerging markets.
The bank is offering a preferential rate on foreign currency conversion, giving special offers on housing loans and providing assistance for searching properties.
"At present, our credit card base is 7.5 million," he said. Sachin Khandelwal, senior general manager for retail assets, however, declined to comment on specific details, such as the magnitude of the reduction in the bank's credit card business over the past year. The country's second-largest lender, which spearheaded the growth of retail finance in the country, has also been going slow on retail loans for the past few years.
ICICI Bank was the biggest loser in the Sensex pack, slipping 2.81 per cent, followed by Mahindra & Mahindra, State Bank of India, UltraTech Cement, IndusInd Bank, Kotak Mahindra Bank, Tata Motors, Bajaj Finserv, Axis Bank and Power Grid. Tech Mahindra, Bharti Airtel, Infosys, Asian Paints, Hindustan Unilever, Larsen & Toubro and Titan were the gainers.
India's second largest lender ICICI Bank sees domestic lending rates gradually hardening in line with the international trend.
ICICI Bank has enhanced its international presence by opening two new branches, one in UK and another in Canada, as part of plans to increase share of its global business.
ICICI Bank joined the likes of Reliance Communications, Infosys and Tata Consultancy Services on Monday in the Rs 1-trillion market valuation club.
Private sector lenders ICICI Bank and Kotak Mahindra on Tuesday announced low rates of 8.25 per cent and 8.49 per cent respectively for home loans, intensifying the cut-throat competition sparked by SBI and HDFC.
The country's two ubiquitous financial powerhouses, HDFC and ICICI Bank, have been the darling of participatory notes, the instrument through which overseas investors invest indirectly - through foreign institutional investors - in India's stock market. Among the stocks comprising Bombay Stock Exchange's Sensitive Index and National Stock Exchange's S&P Nifty, HDFC has the highest P-Notes holding in value, 14.2 per cent, followed by ICICI Bank's 9.1 per cent.
Non-resident Indians will get more interest rates from ICICI Bank for their fixed rupee deposits as well as those denominated in foreign currencies, with the bank hiking interest rates on NRE fixed deposits
