- Tag results for ICICI Bank
Market sentiments were further revived by the RBI's decision to pump in Rs 40,000 crore into the system in November through purchase of government securities, with an aim to tackle liquidity crunch.
The country's largest private sector lender had posted a consolidated net profit of Rs 2,071.38 crore in the corresponding quarter a year ago, the bank said in a regulatory filing.
Law firm Cyril Amarchand Mangaldas withdraws report that gave clean chit to former ICICI chief Chanda Kochhar
ICICI Bank in a regulatory filing Tuesday said the clean chit given to Kochhar in March this year was based on the inquiry report of the law firm.
After the resignation of Chanda Kochhar, who was facing an inquiry, earlier this month, the bank's board had elevated Chief Operating Officer (COO) Bakshi as the new MD and CEO.
The board of the bank has accepted the request of Kochhar to seek early retirement, according to a regulatory filing.
Mortgage lender HDFC has increased its retail prime lending rate (RPLR) by 10 basis points with immediate effect.
Sebi added ICICI sought consent mechanism, which allows wrongdoers to settle pending matters without accepting or denying guilt.
Kochhar has been away from office following an enquiry initiated under the retired Supreme Court judge BN Srikrishna late May but continues to hold onto her position as the managing director & CEO.
While Institutional Investor Advisory Services recommend investors to vote against the proposal, another firm Stakeholders Empowerment Services is against the move.
Agencies such as CBI and SEBI are already probing the alleged lapses involving Kochhar and her family members.
It has been alleged that her family members, including her husband Deepak Kochhar, got financial favours from the borrowers against the loans sanctioned by the bank.
ICICI Bank on Wednesday confirmed that the US Securities Exchange Commission’s (SEC) information requests regarding the private lender’s loan impairment provisions.
As the controversy grabbed headlines, the board had in early June asked Kochhar to proceed on leave till an external enquiry panel headed by retired Supreme Court judge BN Srikrishna was complete.
The complainant, N Swarajya Lakshmi of KPHB Colony, was awarded compensation along with refund from ICICI Bank.
ICICI Bank's asset quality deteriorated, with gross non-performing assets (NPAs) or bad loans widening to 8.81 per cent of the gross advances as on June 30.