ICICI Bank says collection efficiency is back to pre-COVID levels.
Net NPA ratio decreased from 1.23 percent on June 30, 2020 to 1 percent on September 30, 2020.
Net interest income is expected to be more than 12 percent year-on-year with slowing down loan growth to around 5-6 percent YoY, but deposits growth could be around 18-20 percent YoY.
US SEC had conducted a probe into the allegations related to bank’s loan impairment provisions taken under US GAAP for fiscal years prior to 2017
With the launch of the new services, a total of 25 services are now available by the bank on WhatsApp.
The bank is looking for increased interaction with its young customers through this WhatsApp banking service
As per the banks official statement, ICICI is the first bank in India to launch this facility after the RBI allowing banks to issue electronic cards to customers who avail an over draft (OD) facility, which is of the nature of a personal loan with no specific end-use restriction.
Bank of India has reduced rates for an overnight tenor to 6.70 percent.
Sharekhan is bullish on ICICI Bank has recommended buy rating on the stock with a target price of Rs 485 in its research report dated September 28, 2020.
Overall, Nifty can trade in a range of 20 DMA standing around 11,350 mark and 200 DMA placed near 10,800 levels for the coming week.
Since they have been classified as systematically important insurers, LIC, GIC Re and New India Assurance will be subject to enhanced regulatory supervision
If Nifty sustains above the 11500 level it is expected to test its level of 11800 by the expiry next week. The key level to be respected is 11300-11350.
ICICI Bank on September 14 said it has got an exemption from paring stake in its life and non-life subsidiaries to 30 percent for a period of three years.
The bank said "Under the programme, ICICI Bank's customers will get a current account in three variants that will offer additional services, including premium savings accounts for the promoters, salary accounts for employees and a dedicated relationship manager".
Deepak Kochhar is the husband of former ICICI Bank chief executive Chanda Kochhar, and the founder-CEO of NuPower Renewables.
The Enforcement Directorate had arrested ICICI Bank CEO Chanda Kochhar's husband on September 7 in an ICICI Bank-Videocon money laundering case
The ICICI-Videocon case is unlikely to end with Deepak Kochhar’s arrest. Names of Chanda Kochhar and other ICICI Bank officials who played a key role in sanctioning loan to the Videocon Group could come up next.
On January 31, the ED lodged a case of money laundering against Chanda and Deepak Kochhar, Videocon CMD Venugopal Dhoot and others.
Ramakrishnan retired earlier this year from ICICI Bank after a tenure of more than two decades during which he handled a series of functions and businesses
ICICI Bank fell more than 3 percent, Sun Pharma plunged more than 6 percent, and Future Retail was up 20 percent.
This sale was to meet SEBI guidelines of 25 percent minimum public shareholding requirement, the lender said in a notice to BSE.
The sale is in accordance with the requirement of minimum public float of the company, the private sector lender said.
ICICI Bank has partnered with agri–fintech companies specialising in harnessing space technology and weather information for commercial usage.
As per the block deal data on the BSE, 90 lakh scrips of the private lender were sold by Societe Generale at a price of Rs 378.6 per scrip.
PBOC was on the Indian government's radar recently after it raised its stake in HDFC to slightly over 1 percent during the quarter that ended on March 31, 2020.