|Bid||334.30 x 0|
|Ask||0.00 x 0|
|Day's Range||328.75 - 339.20|
|52 Week Range||255.00 - 365.70|
|PE Ratio (TTM)||28.12|
|Forward Dividend & Yield||1.50 (0.56%)|
|1y Target Est||369.18|
(Reuters) - Indian shares climbed to record closing highs on Monday, led by strong gains in heavyweights Reliance Industries Ltd and ICICI Bank Ltd, while investor focus turned to a central bank policy ...
BENGALURU/NEW DELHI (Reuters) - ICICI Bank Ltd, the third-biggest Indian lender by assets, reported its first quarterly net loss in at least 16 years, hurt by higher provisions for bad loans and bond losses. The results come amid uncertainty about the bank's long-serving Chief Executive Chanda Kochhar, who is on leave pending the completion of a probe into alleged nepotism charges against her. While more than 86 percent of India's $150 billion worth of non-performing loans at the end of March was with the dominant state-backed lenders, ICICI accounts for the biggest chunk of bad loans among the private sector banks.
The U.S. Securities and Exchange Commission has sought details from India’s ICICI Bank Ltd. on its accounting and corporate governance practices, people familiar with the matter said. The SEC’s queries center on ICICI’s dealings with certain borrowers under Chief Executive Officer Chanda Kochhar and whether there had been misrepresentations in the bank’s accounting, the people said, asking not to be named. The regulator is taking an interest because ICICI has American Depositary Receipts traded in the U.S., the people added.
As a large-cap stock with market capitalization of ₹1.88t, ICICI Bank Limited (NSE:ICICIBANK) falls into the category of a major bank. As these large financial institutions revert back to healthRead More...
Chanda Kochhar, the chief executive officer of India’s second-biggest lender, has left the building, and her new deputy should waste no time in letting stakeholders know who the real boss is: It’s him. Investors and commentators like me have been hoping since early April that ICICI Bank Ltd.’s board would remove the CEO to save the lender’s reputation. ICICI’s directors, however, had painted themselves into a corner by a premature defense of their CEO, who was feted just months ago as one of India’s top female bankers and a role model.
Chanda Kochhar, chief executive officer of ICICI Bank Ltd. will be going on leave as a panel appointed by the lender probes allegations against her. Bloomberg's Anto Antony reports on "Bloomberg Markets: ...
India's ICICI Bank named group veteran Sandeep Bakhshi as its interim head, and said Chief Executive Chanda Kochhar would go on leave pending the completion of a probe over an alleged conflict of interest that has led to months of controversy for the lender. Bakhshi, who currently heads ICICI's life insurance arm, will take up a newly created position of chief operating officer at the bank for a five-year term beginning June 19, pending regulatory approvals, the bank said in a statement late on Monday.
One of India’s most celebrated bankers, Chanda Kochhar, has been in the eye of the storm in the last few months. Kochhar, the managing director and chief executive officer (CEO) of ICICI Bank, the country’s second-largest private sector lender, has faced allegations of nepotism and favouritism in loan disbursal to NuPower Renewables, a firm founded…
The board of ICICI Bank Ltd. is meeting Monday to decide on the future of Chief Executive Officer Chanda Kochhar, said people familiar with the matter.
Two of India’s most celebrated woman bankers have been in hot water for the last three months. Shikha Sharma, CEO of Axis Bank, the country’s third-largest private lender, stepped down reportedly following a strong signal from the Reserve Bank of India (RBI) that it was unhappy over rising bad loans and falling profits. The firm…
Since ICICI Bank Limited (NSEI:ICICIBANK) released its earnings in March 2018, it seems that analyst forecasts are fairly optimistic, with earnings expected to grow by 32.92% in the upcoming yearRead More...
Post-GFC recovery has driven major financial institutions’ return to health, increasing market confidence in these “too-big-to-fail” banks. As a large-cap stock with market capitalization of ₹1.84T, ICICI Bank Limited (NSEI:ICICIBANK)Read More...
ICICI, India's third-biggest lender by assets, said http://bit.ly/2sjkAQN the probe, headed by an independent person, would examine allegations that the chief executive did not adhere to provisions relating to the bank's code of conduct and whether her actions involved "conflict of interest". The bank is battling allegations that Kochhar allegedly favoured Videocon Group in its lending practices.
The bank said it would respond to the Securities and Exchange Board of India, adding that the notice received on Thursday was based on information given by the bank and its CEO on earlier queries over their dealings with the Videocon conglomerate. ICICI, India's third-biggest lender by assets, is battling allegations that Kochhar allegedly favoured Videocon Group in its lending practices. Videocon's founders had an investment in a renewable energy company founded by Kochhar's husband.
(Reuters) - Indian shares ended slightly higher on Tuesday, paring early gains which were led by ICICI Bank on hopes of improvement in the lender's asset quality after it announced March-quarter results ...
ICICI Bank posted the steepest fall in quarterly profit since 2016 as provisions for bad loans more than doubled. Bloomberg Intelligence's Diksha Gera weighs in on "Bloomberg Daybreak: Asia." ...
ICICI Bank reported its smallest quarterly profit in two years on Monday as stricter RBI rules forced the country's third-biggest lender by assets to account for more bad loans. While the bulk of the country's 9.5 trillion rupees of bad loans, as of the end of 2017, were with the country's dominant state-run banks, private sector lenders ICICI Bank and smaller rival Axis Bank also accounted for large chunks. The Reserve Bank of India (RBI) in February did away with half a dozen loan restructuring schemes in a surprise move to hasten a clean-up of near-record levels of soured loans and tightened some other rules, which has led to banks disclosing more bad loans in the March quarter.
ICICI Bank Ltd., India’s second-largest private sector lender by assets, was Asia’s best-performing bank stock on Tuesday after its top official said bad-loan ratios will improve. ICICI jumped 6.7 percent in Mumbai, the biggest gain since Oct. 25, and was the top stock on Bloomberg’s Asia Pacific Banks Index. Chief Executive Officer Chanda Kochhar, who has been assuring investors since 2015 that the bank has gained control over its bad-loan problem, guided that the net ratio will narrow to about a quarter of the current level over the next two years.
Moody's Investors Service says that the final stage of a multiyear initiative by India's central bank to push banks to recognize problem assets more accurately will reduce profitability for the sector in the near term, but produce benefits over the longer term. "While this push will increase the already-high non-performing loan (NPL) ratios and provisioning burdens for India's banks, and strain their profitability in the near term, cleaner balance sheets in the long run will be credit positive for the sector," says Alka Anbarasu, a Moody's Vice President and Senior Analyst.
May.07 -- ICICI Bank posted the steepest fall in quarterly profit since 2016 as provisions for bad loans more than doubled. Bloomberg Intelligence's Diksha Gera weighs in on "Bloomberg Daybreak: Asia." Her opinions are her own.