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ICICI Bank Rating: Buy; Comfort in a difficult environment
Posted on 31st August 2019
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%.

ICICI Bank moves to revamp its office culture, discards cabins, some grades
Posted on 19th August 2019
MUMBAI: Employees at ICICI Bank Ltd are in the midst of a cultural shift as the bank adopts open office structures, abolishes grades and imparts skills to employees to adapt to sales jobs that would need human intervention amid automation and digitization.

ICICI Bank: Preferred pick with TP unchanged at Rs 500
Posted on 31st July 2019
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%.

ICICI Bank posts standalone net profit of Rs 1,908 crore for June quarter
Posted on 27th July 2019
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.


ICICI Bank launches new digital platform for MSMEs
Posted on 18th July 2019
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.


ICICI Bank hit with maximum bank frauds in 3 years, SBI an inch away; check list of top 10
Posted on 10th July 2019
ICICI Bank has topped the list of banks with the highest number of fraud cases over the last three years, topping bigger rivals state-run State Bank of India and private HDFC Bank. ICICI Bank has recorded a total of 1,432 cases of frauds involving Rs 1 lakh or more, between fiscal year 2016-17 and FY 2018-19, Minister of State for Finance Anurag Thakur said in a written reply in Rajya Sabha.

Cheap loans: ICICI Bank, PNB, Central Bank cut lending rates
Posted on 2nd July 2019
ICICI Bank, Punjab National Bank and Central Bank of India on Monday cut their marginal cost of funds-based lending rates (MCLRs) across tenures for the first time after the Reserve Bank of India (RBI) lowered the repo rate by 25 bps to 5.75% in June.

ICICI Bank, the country’s second largest private bank by assets, cut its one-year MCLR — the benchmark for most customer loans — by 10 bps to 8.65%. While the MCLR for shorter periods now stands at 8.60% for six months, 8.45% for three months, 8.40% for one month and overnight lending.


ICICI Bank lowers lending rates by 10 bps
Posted on 1st July 2019
The second largest private sector lender ICICI Bank has cut its lending rates by 0.10 percent which will make all the loans cheaper, sources said Monday. The move comes weeks after it cut its deposit rates and amid calls for banks to quickly pass on the benefits of rate cuts by the RBI, which stands at a full 75 bps since February. The bank has cut its marginal cost of funds based lending rate (MCLR) across all tenors by 0.10 percent, they said adding the new rates are effective immediately.

ICICI Bank eyeing 20 per cent growth in retail loan in Kerala FY20
Posted on 25th June 2019
Private sector ICICI Bank Tuesday said it aimed to grow its retail loan disbursement in Kerala by over 20 per cent to Rs 3,100 crore in FY20. The bank planned to achieve this growth by rapidly expanding disbursement of consumer loans and mortgage loans, the two main pillars of retail loans, its Executive Director Anup Bagchi said.

ICICI Bank to NCLAT: Direct NCLT Allahabad for early hearing on insolvency plea against Jaiprakash Associates
Posted on 17th June 2019
Private sector lender ICICI Bank Monday approached the National Company Law Appellate Tribunal (NCLAT), seeking a direction to NCLT, Allahabad to expedite the hearing on its insolvency petition against Jaypee group firm Jaiprakash Associates Ltd (JAL). In September 2018, ICICI Bank had filed a petition before the Allahabad bench of National Company Law Tribunal (NCLT) seeking to start insolvency proceedings of JAL, which is into infrastructure and real estate.

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