SBI, PNB, Axis, HDFC Bank, ICICI or any other bank’s customer? Check new NEFT timings
Posted on 16th December 2019 |
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NEFT Timings: Customers of SBI, HDFC Bank, Axis Bank, Punjab National Bank, ICICI Bank or any other commercial lender can do National Electronic Funds Transfer (NEFT) transactions 24×7 from today. The facility will now be available on any day of the week or month, including holidays. The Reserve Bank of India (RBI) has allowed this facility to be available at all times throughout the year.
For smooth settlement of NEFT transactions, the RBI has decided to provide additional collateralised intra-day liquidity facility. |
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Chanda Kochhar takes ICICI Bank to Bombay HC; hearing on December 2
Posted on 30th November 2019 |
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Chanda Kochhar, ICICI Bank's former managing director and chief executive officer, has moved the Bombay High Court, challenging the decision of the bank's board earlier this year to terminate her employment and claw back the bonuses and stock options she received between April 2009 and March 2018.
A division Bench of the high court comprising Justice Ranjit More and Justice Makarand Karnik will hear Kochhar's plea on December 2. With this, the stage is set for an intense legal battle between the bank and its former CEO.
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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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