ICICI Bank board defends MD on nepotism charges, quashes allegations
Posted on 29th March 2018 |
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ICICI Bank’s board on Wednesday came out in support of its Managing Director and Chief Executive Officer Chanda Kochhar and quashed the allegations of favouritism while describing certain reports against her regarding credit disbursement to the Videocon group as “malicious and unfounded rumours”. The bank’s board also reviewed its internal processes and exposure to the Videocon group, the lender said in a statement to the bourses.
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50 analysts say ‘buy’ ICICI Bank shares, but the single ‘sell’ call may be right
Posted on 27th March 2018 |
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When the sole dissenter on a stock that has 50 buy recommendations ratchets up his bearish call with a “buyer beware” warning on the whole industry, you sit up. When the stock in question is ICICI Bank Ltd., which on Monday had to downsize an initial share sale of its securities business amid lackluster demand, you take notice. |
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ICICI Bank raises Rs 40 billion via bonds, money to be used to fund growth
Posted on 21st March 2018 |
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Private sector lender ICICI Bank on Tuesday said it has raised Rs 40 billion from bonds to fund growth.
"The Committee of Executive Directors of the bank at its meeting held today has approved the allotment of 40,000 Basel III compliant unsecured subordinated perpetual Additional Tier 1 bonds in the nature of debentures aggregating Rs 4000 crore (40 billion) on private placement basis," ICICI Bank said in a regulatory filing to stock exchanges. |
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ICICI Bank may raise ₹4020 crore through brokerage arm listing
Posted on 15th March 2018 |
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ICICI Bank will sell about 7.72 crore shares or 24% stake in its brokerage arm ICICI Securities Ltd. in an initial public offering to be launched next week. The bank will raise as much as 4,020 crore from the offering. The price range for the offering was set in the range of 519-520 per share and the IPO will open from March 22 to 26. The subscription will open for anchor investors or in others large local and foreign institutions on March 21, while retail investors canapply between March 22 and March 26. |
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ICICI Bank offers MSMEs instant overdraft facility
Posted on 14th March 2018 |
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Mumbai: Micro, small and medium enterprises (MSMEs) that have current accounts with ICICI Bank can now avail of automated loans in the form of an instant overdraft facility of up to Rs 10 lakh each year. The ‘InstaOD’ will enable a few lakh pre-qualified customers, who have held a current account for at least a year, to instantly get the loan without visiting a branch or submitting physical documents. |
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ICICI Bank shares fall over 3% on SFIO probe
Posted on 7th March 2018 |
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New Delhi: Shares of ICICI Bank Ltd on Wednesday slumped over 3% in early morning trade as the bank’s senior officials were summoned by the Serious Fraud Investigation Office (SFIO) with regard to the Punjab National Bank (PNB) scam. It is the sixth straight session of fall for the stock and has slumped 12.75% since 26 February. Senior officials from private sector lenders ICICI Bank and Axis Bank appeared before SFIO on Tuesday with regard to a probe into the Rs12,636-crore PNB fraud. |
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ICICI Bank's Chanda Kochhar, Axis Bank's Sikha Sharma summoned over Gitanjali loans
Posted on 6th March 2018 |
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MUMBAI: The mumbai wing of the Serious Fraud Investigation Office has summoned ICICI Bank CEO Chanda Kochhar and Axis Bank CEO Shikha Sharma in the Rs 5,000 crore loan extended to Mehul Choksi’s Gitanjali Gems. The summons sent to both Kochhar and Sharma requests them to appear in person or send a representative. |
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ICICI Bank to take over pan India tea auction settlement
Posted on 5th March 2018 |
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KOLKATA: ICICI Bank is expected to soon start handling post-auction settlement for the Rs 8,000-crore-a-year tea auction business at all centres. The bank has already launched postauction settlements at Coonoor and Siliguri auction centres and in a few weeks, it is likely to start a similar process in Guwahati and Kolkata, the two largest tea auction centres in India, and other locations, a senior official of the Calcutta Tea Traders Association told ET. |
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EMIs to go up as State Bank of India, PNB and ICICI Bank hike lending rates
Posted on 2nd March 2018 |
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State Bank of India (SBI), the country’s largest lender, on Thursday raised its benchmark lending rates by up to 25 basis points for the first time since the marginal cost-based lending rate (MCLR) regime was introduced in April 2016. One basis point is 0.01 per cent. The rate hike, effective immediately, comes a day after the bank raised its deposit rates by as much as 50 basis points (bps) across various maturities. |
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