HDFC AMC, Polycab, ICICI Pru hit record highs on inclusion in MSCI index
Posted on 8th November 2019 |
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Shares of HDFC Asset Management Company (AMC), ICICI Prudential Life Insurance (ICICI Pru) and Polycab India hit their respective all-time highs on Thursday after their inclusion in the MSCI Global Standard Index with effect from November 26, 2019.
Polycab India surged 7 per cent to Rs 915, surpassing its previous high recorded on October 30 in the intra-day trade. In the past one month, the stock has rallied 32 per cent against an eight per cent gain in the S&P BSE Sensex.
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ICICI Bank consolidated Q2 net profit down 6% to Rs 1,131.20 crore
Posted on 26th October 2019 |
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Private sector lender ICICI Bank on Saturday posted a 6.09 per cent decline in consolidated net profit for the September quarter at Rs 1,131.20 crore. It had reported a net profit of Rs 1,204.62 crore for the July-September period a year ago. |
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ICICI Bank’s new FD scheme: Fixed deposit with critical illness insurance cover
Posted on 14th October 2019 |
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Private sector lender ICICI Bank today launched of FD Health, a fixed deposit (FD) offering the dual-benefit of investment growth via FD and protection through a critical illness coverage. For investors in FD Health, ICICI Bank will offer the insurance cover free of cost for the first year and thereafter, they can renew it. |
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ICICI to open 450 slimmer branches, to hire around 3,500
Posted on 24th September 2019 |
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The ongoing slump in the realty sector is helping ICICI Bank in its expansion drive as it is adding branches by nearly a tenth of its existing footprint, a top official said. The ongoing slump in the realty sector is helping ICICI Bank in its expansion drive as it is adding branches by nearly a tenth of its existing footprint, a top official said. |
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ICICI bank eyes 450 retail branches by end of fiscal
Posted on 23rd September 2019 |
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MUMBAI : ICICI Bank on Monday said it has opened 320 bank branches so far this fiscal and was looking to add another 130 branches over the next 6 months, taking the total branch network to over 5,320 by the end of March 2020. “Our strategy is to set up branches wherever business activity emerges. |
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ICICI Bank Rating: Buy; Comfort in a difficult environment
Posted on 31st August 2019 |
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ICICI Bank’s (ICICIBC’s) annual report reaffirms our view that the bank is progressing well in its endeavour to strengthen balance sheet with strong focus on retail franchise. While its retail portfolio has been leading overall loan growth, GNPA has remained stable at 1.7% for many years; also, retail fees contribute over 70% to total fees. Concentration of the top-20 advances/exposures improved by 206bp/208bp to 12.1%/ 11.9% during the year. On the liability side, concentration of the top-20 depositors improved by ~50bp to 5.7%. |
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ICICI Bank: Preferred pick with TP unchanged at Rs 500
Posted on 31st July 2019 |
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Q1FY20 was strong for ICICI Bank marked by significantly higher-than-expected PAT of Rs 19.1 billion (our estimate: Rs 16.7 billion) primarily on lower provisions (down 41.5% year-on-year). Key highlights of Q1: (a) domestic advances growth improved to 17.9% y-o-y — retail book (up 22.4%); (b) decline in BB and below rated pool to 2.6% of loans vs 3% in Q4FY19; and (c) headline asset quality improved with GNPA down 21 bps quarter-on-quarter at 6.5%. |
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ICICI Bank posts standalone net profit of Rs 1,908 crore for June quarter
Posted on 27th July 2019 |
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Improvement in asset quality led ICICI Bank to report a consolidated net profit of Rs 2,513.69 crore for the June quarter on Saturday, against Rs 4.93 crore profit in the year-ago period. On a standalone basis, the second largest private sector bank by assets reported a net profit of Rs 1,908 crore against a Rs 119 crore loss for June 2018. |
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ICICI Bank launches new digital platform for MSMEs
Posted on 18th July 2019 |
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India's second-largest lender ICICI Bank has launched a new digital platform for micro, small and medium enterprises (MSMEs) and self-employed customers to enable them to undertake their business banking transactions digitally. Called, 'InstaBIZ', it allows customers to avail as many as over 115 products and services in a digital and secure manner on their mobile phone or internet banking platform. |
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