Valued at $71.2 billion, the bank's market capitalisation is more than that of global banks like Barclays, JP Morgan Chase and Credit Suisse.
However, the road to profitability has already hit some hurdles for the Delhi-based bank as the Union government has rejected its demand for an additional capital infusion of around Rs 8,000 crore in 2018-19
The bank's net profit on standalone basis was Rs 2,652 crore (Rs 26.52 billion) in the forth quarter of the 2013-14 fiscal, up 15.01 per cent from Rs 2,304 crore (Rs 23.04 billion) in the year-ago period, ICICI Bank said in a statement.
The buyout will cost LIC about Rs 100 billion, based on the Rs 248 billion market capitalisation of IDBI Bank as on Friday, and assuming it acquires a 40 per cent equity stake from the government.
For the baning sector, 2018 was a 'Year of Exits' - borrowers fled from the country as loans went kaput and many bank CEOs were forced to leave
Among other stocks, IT firm Mphasis today reported a 15.30% increase in consolidated net profit at Rs 184.72 crore for the quarter ended September 30, 2015.
Software firm dismisses charge, says Finacle has proven ability.
The bank's profit is buoyed by robust growth in its commercial banking and mortgage businesses.
After a gap of about five years, a public sector bank (PSB) has decided to rope in a cricketer to boost its brand.
The rally in most of these stocks is partly attributed to impressive financial performance.
Analysts say there is still no visibility of earnings improvement.
Their net NPA as a proportion of net advances were 2.2 per cent, compared with 1.7 per during the same period a year earlier.
Move comes after the country's monetary authority tightened credit norms
United Progressive Alliance-led government proposed lenders as insurance brokers; new FM not too keen, say insurers.
In a message to public sector banks (PSBs) that only performers will survive, the government, in an unprecedented move, has decided to allocate capital to only nine PSBs.
SBI, PNB, Bank of Baroda, Canara Bank, Dena Bank, Central Bank of India ended down 3%-12% each.
Your money is protected by the Deposit Insurance and Credit Guarantee Corporation.
The move comes ahead of the tighter provisioning norms kicking in from next April
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