New Delhi: In the BrandZ list of the Top 100 Most Valuable Global Brands 2012 are two Indian companies - Airtel and ICICI Bank. India's leading private sector bank ICICI has made it to the annual list on previous ocassions but this is Airtel's maiden entry into the top 100. ICICI has dropped 10 places since 2011 in the list and according to Millward Brown ICICI Bank's brand value has...
02:41 PM, May 23, 2012
Mumbai: Global credit ratings firm Moody's on Monday downgraded the country's three largest private sector lenders - ICICI Bank, HDFC Bank and Axis Bank - to D+ from C- to align them with the sovereign rating. As a result, the hybrid debt ratings of these banks, except HDFC Bank, will be negatively impacted. The standalone bank financial strength rating (BFSR) of ICICI, HDFC and Axis are revised down to D+...
06:00 PM, May 14, 2012
ICICI bank, India's No two lender, reported a better-than-expected 31.1 per cent rise in quarterly profit, bolstered by higher income from non-core operations and strong loan growth. Net profit rose to Rs 19.02 billion in the fiscal fourth quarter ended March from Rs 14.5 billion reported a year earlier, while net interest income increased nearly 24 per cent to Rs 31.05 billion. Other income, which includes gains from treasury and...
04:22 PM, Apr 27, 2012
Mumbai: The BSE Sensex and NSE Nifty closed listless trade flat for the third consecutive session on Friday. ICICI Bank topped the buying list after better than expected numbers for Q4. Technology stocks too helped the market while State Bank of India, Reliance, BHEL, L&T and ITC were under pressure. The BSE benchmark rose just 3.58 points, to close at 17,134.25 after hitting an intraday high of 17,242.15 and low...
09:43 AM, Apr 27, 2012
Mumbai: State-run banks are likely to give in to a government directive and lower lending and deposit rates within the next few days after the Reserve Bank of India (RBI) made a deeper than expected cut to its policy rate on Tuesday. Banks had been reluctant to cut their lending rates despite a reduction in their reserve requirements, saying tight cash conditions were keeping deposit rates high and deposit growth...
05:43 PM, Apr 19, 2012
New Delhi: The Finance Ministry is working out the financial implication of the Supreme Court judgement to cancel 122 telecom licences on the banking sector. "We have to see the implication. Officers are working on the impact of judgement on the banks... We will soon have a clear picture," a senior finance ministry official said. Several lenders including the State Bank of India, ICICI Bank, Punjab National Bank and IDBI...
04:54 PM, Feb 02, 2012
Bangalore: NR Narayana Murthy on Friday stepped down as Chairman of Infosys, bringing the curtains down on his 30-years of illustrious innings at the helm, even as he sought to inspire the new leadership team and the employees to take the company to greater heights. At the farewell ceremony at the NASDAQ-listed company's headquarters in Bangalore on Friday evening, Murthy outlined his vision for the $ 6 billion IT firm....
09:34 AM, Aug 20, 2011
Mumbai: ICICI Bank, India's second-largest lender, said on Thursday it would raise its benchmark lending rate, or base rate, by 50 basis points to 10 per cent with effect from Saturday. State Bank of India , the country's top lender, also announced an increase of 50 basis points in base rate earlier on Thursday. The Reserve Bank of India had in July raised its policy rates by a larger-than-expected 50...
01:29 AM, Aug 12, 2011
Mumbai: ICICI Bank, India's second-largest lender, posted a 30 per cent rise in quarterly profit, slightly below estimates, as strong credit growth and lower provisions for bad loans were offset by higher expenditure. ICICI, also listed in New York, said net profit in April-June rose to 13.32 billion rupees ($302 million) from 10.26 billion a year ago. Net interest income was 24.11 billion rupees, compared with 19.92 billion a year...
02:07 PM, Jul 29, 2011
New Delhi: A Delhi court has imposed a fine of Rs 5,000 on ICICI bank for forcibly taking away motorbike of a person for not paying a loan installment in time, observing that "show of muscle power" cannot be allowed in a country ruled by law. Imposing fine on the bank for employing musclemen to snatch away the motorcycle of Syed Ansar Ali after he did not pay his loan...
09:51 AM, Jul 24, 2011
New Delhi: Mukesh Ambani has got the company of at least 29 fellow corporate executives, including four from his own group Reliance Industries, in terms of annual salaries running into crores of rupees for the latest fiscal. These include JSW Energy's Sajjan Jindal, Hindustan Construction's Ajit Gulabchand, Raymond's Gautam Hari Singhania, ICICI Bank's Chanda Kochhar, Axis Bank's Shikha Sharma, as also Infosys' S Gopalakrishnan and SD Shibulal. Companies are currently...
11:11 AM, May 29, 2011
In conversation with the top management at Infosys after the change of guard in the company. ...
08:39 PM, May 01, 2011
Bangalore: In tandem with leadership succession plan and move to transform the company into a next-generation global player in IT arena, Infosys Technologies on Saturday said it will be renamed as Infosys Ltd. Co-Chairman-designate S Gopalakrishnan said that Infosys has a broad range of services all the way from consulting to business process outsourcing and the company's focus is to help clients achieve business results. "We felt that the brand...
10:37 PM, Apr 30, 2011
In conversation with Infosys Chairman NR Narayana Murthy who passed the baton to KV Kamath. ...
10:25 PM, Apr 30, 2011
Banglaore: Signifying the end of an era, Infosys on Saturday decided to appoint KV Kamath as the successor to its current Chairman NR Narayana Murthy. Thirty years from its inception, founder and chief mentor Murthy will step down as Chairman of the Board in August 2011 to give way to Kamath, the current non-executive Chairman of ICICI Bank. Kamath has been an independent director on the Infosys board since May...
06:18 PM, Apr 30, 2011
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