No immediate plan to hike lending rates, says ICICI
India's second-largest, ICICI Bank, today said that there was no immediate plan to hike its lending rates. "As of now, there is no lending rate hike," Kochhar told reporters here.
Cost of funds for the bank has reduced following a rise in its current account, savings account (CASA) deposits, she said. "Our CASA has risen substantially," she said.
The bank's CASA ratio increased to 41.7 per cent as at end-FY10 from 28.7 per cent in FY09. "However, there is an upward bias in interest rates," she said. Asked about the possibility of listing I-Sec, an unit of the bank, Kochhar said that there was no immediate plan to do so.
"We do not need capital now -- we have enough of buffer capital -- we will watch the market conditions and valuations," she said.