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Top related persons:
Chanda Kochhar - 1 Sandeep Bakhshi - 1 Shritama Bose - 1 Blackstone - 1 Aston Martin - 1 Una Galani - 1 Thomas Shum - 1
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MUMBAI Canada
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ICICI Bank - 1 ICICI Securities - 1 State Bank of India - 1 Twitter - 1 Siemens - 1 Telecom Italia - 1 Vivendi - 1 Thomson - 1

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2 mentions found


☆ ICICI Bank is dealmaking from a place of strength
  + stars: | 2023-06-27 | by ( ) www.reuters.com   time to read: +2 min
The $80 billion ICICI Bank (ICBK.NS) is weighing up a delisting of its broking firm ICICI Securities (ICCI.NS), the news prompted a 10% rally in the shares of the $2.4 billion unit. This time the country’s second largest private sector lender is dealmaking from a position of strength. It was one among a flurry of subsidiary IPOs that battered lenders including State Bank of India (SBI.NS) undertook to generate cash. ICICI Bank was particularly vulnerable, with then CEO Chanda Kochhar battling allegations of dodgy lending to the Videocon group. ICICI Securities trades at roughly 18 times trailing earnings but went public at more than twice that valuation, Centrum Broking calculated at the time.
Persons: Chanda Kochhar, Sandeep Bakhshi, Shritama Bose, Blackstone, Aston Martin, Una Galani, Thomas Shum Organizations: Reuters, ICICI Bank, ICICI Securities, State Bank of India, Twitter, Siemens, Telecom Italia, Vivendi, Thomson Locations: MUMBAI, Canada
☆ India's ICICI Bank net profit jumps 37% as bad loan provisions drop
  + stars: | 2022-10-22 | by ( ) www.reuters.com   time to read: +2 min
MUMBAI, Oct 22 (Reuters) - ICICI Bank (ICBK.NS), India's second-largest private-sector lender, reported a 37% rise in quarterly net profit on Saturday as loan growth inched up and provisions for bad loans fell. Net profit for the three-months ending Sept. 30 rose to 75.58 billion rupees ($916 million), broadly in line with analysts' estimate of 73.51 billion rupees, according to Refinitiv IBES data. Net interest income, which is the difference between interest earned and paid out, was 147.9 billion rupees, a rise of 26% on the year-earlier period, the bank said in a statement. Loans increased across segments, including large corporate, although the bank was focusing on higher rated corporate borrowers, it said. The lender is holding adequate liquidity and does not see deposit growth as constraint on the bank's overall growth, said executive director Sandeep Batra.
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