Shah Rukh Khan's image and popularity with the Non-Resident Indian segment will further reinforce ICICI Bank's global identity, the bank said in a statement.\n
HDFC Bank's January-March quarter result, which came in-line with expectations, failed to enthuse investors. The reason? The management's decision to abstain from providing any specific growth guidance, and analysts' expectations of an arduous road to recovery. Analysts believe the path to normalisation of several growth metrics is unlikely to be a straightforward one, and the road to balance sheet realignment may be long.
In 2007-08, ICICI Bank was accused for violating RBI guidelines relating to opening of deposit accounts.
General insurer ICICI Lombard has structured the first ever weather insurance cover for a maximum sum insured of Rs 1.5 crore (Rs 15 million) for Gujarat Heavy Chemicals in the event of loss of salt production due to unseasonal rainfall at its Nagapa
Car loans from ICICI Bank, the country's largest private sector lender, would be 50-75 basis points (bps) cheaper, while those from IDBI Bank would cost 100 bps less.
ICICI Infotech outsmarted Tata Consultancy Services and Wipro to get the mandate from states for setting up a national tax information exchange system (Tinxsys) to track inter-state transactions and check tax evasion.
Top Indian private sector lender ICICI Bank, which owns nearly 68 percent of the insurer, is selling up to 181.34 million shares in the IPO.
MD Chanda Kochhar says the facility 'has the potential to increase security and convenience'
ICICI Bank has identified rural credit as the next growth platform for which it had decided to leverage the role of micro-credit organisations.
In a rating watch statement, ICRA said that it has re-affirmed the LAAA rating with a stable outlook on ICICI Bank's subordinated debt programme and long-term bonds programme, which indicate highest credit quality and lowest credit risk for the two instruments. Besides, the ratings for the debts taken over by ICICI Bank from the erstwhile ICICI Limited have also been retained at LAAA with stable outlook and MAAA, respectively.
ICICI Bank has a network of 1,416 branches and over 4,600 automated teller machines across the country, which it manages by itself, while several other banks have outsourced their ATM management and POS (credit and debit card payment accepting) terminals.
Investors shunned shares of Bajaj Finance on Friday, a day after the non-banking financial company (NBFC) reported a sharp contraction in its net interest margin (NIM) for the March quarter of the financial year 2023-24 (Q4FY24). The losses accounted for a fifth of the benchmark S&P BSE Sensex's 609-point loss. Most brokerages have tamed their earnings expectations for the next couple of quarters, after the management said it expected the pressure on NIMs to continue in the near term.
ICICI Bank UK Ltd, a wholly owned subsidiary of ICICI Bank Ltd, India's second largest Bank, has enhanced its presence in the United Kingdom by inaugurating branches in Manchester and Southall on Thursday.
Even as Srini Pallia, a Wipro veteran, is set to take charge as the chief executive officer (CEO) of the company, analysts expect the stock's underperformance to continue in the near-future. This, they believe, will be on the back of likely loss of market share, and difficult business environment. "We expect Wipro to underperform peers on growth once again in FY25 as channel checks and media reports suggest Wipro is losing share with select clients across multiple verticals.
ICICI Bank, the country's largest private sector lender, has introduced an equated monthly instalment (EMI) option for its customers on debit card purchases.
The Reserve Bank of India has said its inspection of ICICI Bank and its UK subsidiary has not revealed anything to cause alarm.
ICICI OneSource, India's leading business process outsourcing on Tuesday announced the commencement of operations at its 400-seat facility in Buenos Aires, Argentina.
The suspension is pending the bank's investigation into money laundering charges, sources in ICICI told PTI. The probe is expected to be completed in two weeks.
The pharmaceuticals sector is expected to post a revenue growth of around 13.5 per cent and a net profit growth of 30.3 per cent for the third quarter of 2023-24 (FY24), riding on the approval for niche drugs in the US market, fall in raw material prices and correction in shipping rates. In the healthcare segment, hospitals are expected to post revenue growth of 13 per cent during the coverage, while net profit growth would be around 37 per cent, ICICI Securities said in a note. However, the performance may not be comparable on a sequential basis due to the offset of the festive season in Q3FY24, the analysts noted.
Prudential ICICI Asset Management Company the investment manager to India's largest private sector mutual fund launched an innovative product, the Pru ICICI Advisor Series.
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.
ICICI Bank said on Tuesday it has opened a representative office in Shanghai, China, its third overseas office after New York and Dubai.
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 Pru is barred from doing any further business with the state government or any of its departments.
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
For priority sector home loans below Rs 20-lakhs (Rs 2 million), the new interest rate will 9.75 per cent as against the earlier 10 per cent, an ICICI Bank spokesperson said.
ICICI Lombard has launched a hybrid weather-cum-satellite imagery-based insurance product in India to insure wheat crops.
ICICI OneSource, one of India's leading business process outsourcing services providers and a member company of ICICI Bank
It appears the two banks are now convinced that increasing their credit card portfolios will not lead to significant erosion in asset quality.
ICICI Prudential Life Insurance on Monday said it will hike capital by Rs 50 crore to Rs 575 crore by the end of this fiscal, after posting over 170 per cent jump in business till September.
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.
Biometric cards contain the details of policyholders such as name, age, address and finger prints. Besides helping the customers to pay their renewal premiums, the card will facilitate claim processing. It authorises transactions based on the customer's fingerprints.
ICICI Bank Ltd has set up a wholly owned banking subsidiary in Canada that would offer a range of products targeted at retail and commercial clients.
Videsh Sanchar Nigam Ltd has inked a pact with ICICI Bank Ltd, whereby the private sector bank will distribute the former's Tata Indicom dial-up Internet services through its ATMs in the country.
>It's not easy to predict the market. But there are at least two positive factors to back the PSU banks, explains Tamal Bandyopadhyay.
