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The bank's net profit for the second quarter of the financial year 2018-19 stood at Rs 908.88 crore, against Rs 2,058.19 crore reported during the corresponding period of the last fiscal.
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.
These fake Android apps have logo of respective banks which makes it difficult for customers to differentiate between the fake and original apps, it said.
This ends the bank’s uncertainty after its former MD Chanda Kochhar came under investigation for alleged nepotism and conflict of interest, and her eventual resignation early this month.
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.
Kochhar will also relinquish office from the Board of Directors of the bank's units. Shares of the company rose as much as 5.8 per cent following the announcement.
Sebi added ICICI sought consent mechanism, which allows wrongdoers to settle pending matters without accepting or denying guilt.
ICICI Bank and the business dealings of the Kochhar family has come under the regulatory lens of Sebi and other agencies.