Benchmark equity indices Sensex and Nifty rebounded on Thursday after three sessions of losses, tracking gains in global markets after US President Donald Trump struck a conciliatory tone on Greenland. In a volatile session, the 30-share BSE Sensex climbed 397.74 points, or 0.49 per cent, to close at 82,307.37.
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.
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 overall market breadth was positive as 1,796 stocks advanced against 1,023 declining ones, on the BSE.
Consensus continues to be cautious with analysts pointing towards tougher days ahead
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.
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 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.
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.
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.
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.
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.
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 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 RBI said it had not found initial evidence of money laundering against the three banks.
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.
The bank got the share in lieu of repayment of loan.
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.
Indian stock market benchmark indices Sensex and Nifty experienced a significant decline, driven by escalating tensions in the Middle East and rising crude oil prices.
ICICI Bank on Saturday said its March quarter consolidated net profit grew 18.5 per cent to Rs 11,672 crore, helped by lower provisions. On a standalone basis, the second largest private sector lender showed a 17.4 per cent growth in its profit after tax at Rs 10,708 crore for the reporting quarter against Rs 9,122 crore in the year-ago period. For fiscal 2023-24, its standalone net profit grew to Rs 40,888 crore from Rs 31,896 crore a year ago.
Indian stock market benchmark indices Sensex and Nifty experienced a significant drop in early trade due to rising crude oil prices, bearish global market trends, and continuous foreign fund outflows.
IBoard defends MD on nepotism charges, quashes allegations; it also reviewed its internal processes and exposure to the Videocon group
The RBI, according to the source, wants details on the procedure followed for credit appraisal by the bank while giving loans to Videocon.
ICICI Bank has reported a decline in its quarterly net profit for the first time since its merger with ICICI.
Interest rates on fixed rate home loans have been increased by 0.75 per cent to 8.50 per cent from the current level of 7.75 per cent with effect from November 17, 2004.
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).
ICICI Bank Ltd has acquired 3.6 crore shares, aggregating 12.65 per cent of Himachal Futuristic Communications Ltd, due to a default in loan payment by the latter.
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.
