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: ICICI Bank has asked embattled Kingfisher Airlines to top up its loan security or adjust the loan amount after the ailing carrier's stock took a severe beating in recent weeks, the airline said. "There is absolutely no recall of the entire loan facility nor any notice for sale of securities," Kingfisher said in a statement. ICICI Bank has lent about 4.3 billion rupees to Kingfisher. Kingfisher, which has...
12:46 AM, Mar 28, 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
New Delhi: The country's largest private sector lender ICICI Bank will soon join social media platform Facebook, where it plans to allow its customers to access their bank accounts, among other services. "... ICICI Bank will soon be present on Facebook. The ICICI Bank page (on the social media website) will include a one-of-its kind 'Your Bank Account' app through which you can access your bank account information while on...
02:53 PM, Jan 03, 2012
New Delhi: Google India on Wednesday announced the launch of a countrywide initiative to help small and medium businesses (SMBs) in India to go online with a free website. The Google-led 'India Get Your Business Online' initiative offers a free .in domain name and hosting for the first year along with free custom email addresses and 365-day support. Google's aim is to break down barriers that stop small businesses from...
12:34 PM, Nov 02, 2011
Mumbai: The BSE benchmark dropped for the second consecutive session on Tuesday, losing more than 200 points mirroring downtrend in European markets. Investors remain worried over the new EU deal, especially after the Greek prime minister raised concerns over it on Monday. The 30-share BSE Sensex fell 224.18 points or 1.27 per cent to close at 17,480.83 led by sell-off in almost all sectors. The 50-share NSE Nifty slipped 68.65...
09:41 AM, Nov 01, 2011
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: Worries over a prolonged global economic slowdown sent the BSE Sensex to its lowest close in nearly six weeks on Wednesday, as a last-minute budget deal by Washington to avoid a US default turned investor focus to its impact on growth. The United States stepped back from the brink of default on Tuesday but congressional approval of a deficit-cutting plan failed to dispel fears of a credit downgrade and...
12:33 AM, Aug 04, 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
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