Page 25 - Icici Bank

Boost for Navi Mumbai metro project with financial closure for line 1

The process of financial closure for line number 1 of the upcoming Navi Mumbai metro project has been completed with the signing of an agreement between CIDCO and ICICI Bank for the Rs 500 crore line of credit, a release said on Wednesday. Navi Mumbai Metro Line 1 project is a three-coach metro train. The 11.1-km Belapur to Pendhar stretch of the project comprises 11 stations. "City and Industrial Development Corporation (CIDCO) signed an agreement for the industrial line of credit for Rs 500 crore with the Industrial Credit and Investment Corporation of India (ICICI). With this, the financial closure process for the metro line no. 1 project has been completed," CIDCO said in a release. Speaking about the major milestone, CIDCO vice chairman and MD Sanjay Mukherjee said the works on line number 1 of the project will be expedited. "Due to the Rs. 500 crore line of credit facility from ICICI Bank, the works of Line no. 1 will be expedited and it will be possible to travel on this lin

Festivals boost credit card spends to record high of Rs 1.29 trillion

On a year-on-year (YoY) basis, spends were up over 25 per cent, despite a high base

ICICI Bank to acquire 10% stake in 9MMTPA refinery JV of IOCL and CPCL

ICICI Bank will subscribe 10% of total paid up capital of the target entity

ICICI Bank launches dollar bond, deposit-linked loan for NRIs at GIFT City

Lender claims to be the first to offer these products in GIFT City

ICICI Bank, Bajaj Finance see highest FPI inflows in July-September

Conversely, Reliance Industries and Tata Consultancy Services saw the maximum FPI outflows at Rs 44,622 crore and Rs 17,838 crore, respectively

Bombay HC: Prima facie removal of Kochhar as ICICI Bank CEO valid

In the order the Judge said that the bank was justified in revoking acceptance of early retirement of Kochhar as they had accepted it without having complete knowledge of the facts

Reliance Strategic Investments appoints K V Kamath as Independent Director

Kamath served as Chairman of Infosys. In 2015 he was appointed as the first President of the New Development Bank set up by the BRICS countries from where he retired in 2020

Credit card base of major issuers erodes in Q2 over RBI's norms

SBI Card was exception as gains card base, market share

ICICI Bank Q2: Analysts expect sustained outperformance, up to 24% upside

ICICI Bank Q2 result review: ICICI Bank shares hit record high of Rs 942.7 apiece as the lender outperformed peers on every metric in Q2FY23

Sensex snaps 7-day winning run, falls 288 pts; RIL slips 1.5%, Nestle 3%

CLOSING BELL: The top drags were Nestle, Bajaj Finserv, HUL, Kotak Bank, RIL, HDFC, Bajaj Finance, Asian Paints, and IndusInd Bank as they fell in the range of 1 per cent to 3 per cent

Stocks to watch: RIL, HUL, ICICI Bank, RBL Bank, IGL, Borosil Renewables

Stocks to watch today: Reliance Industries flat net profit at Rs 13,656 crore in Q2FY23; Chennai Petroleum will post Q2FY23 results on Tuesday, October 25

ICICI Bank Q2 net rises 37% to Rs 7,558 cr on healthy loan growth

Advances of ICICI Bank grew 23 per cent YoY and 5 per cent sequentially to Rs 9.38 trillion at the end of the September quarter

Credit card spends touch record high of Rs 1.22 trillion in September

Banking system saw a net reduction of close to 290,000 cards during this period, impacted by RBI norms warranting deactivation of cards that are inactive for a year

ICICI Bank Q2 net profit may rise 35% YoY on solid loan book, say analysts

ICICI Bank Q2 preview: Better credit growth, including for mortgages and unsecured loans, should drive up margins, leading to healthy core profitability, analysts said

Growth, moderate valuations positive for ICICI Prudential Life Insurance

Value of new business growth and margins remained strong in Q2

Sale of cement units to Adani group a relief for Jaiprakash lenders

Lenders said they are still awaiting the resolution of a debt worth Rs 21,658 crore with Jaypee Infratech -- the real estate arm of the group

MPC after-effect: SBI, ICICI Bank, YES Bank, BoI raise lending rates

The hike in lending rates shall be applicable to home loans and consequently, equated monthly instalment payments made by customers.

ICICI Bank launches 'Festive Bonanza', announces offers on home, auto loans

In the personal loan segment, customers will not be levied pre-closure charges after 12 equated monthly instalments are paid

'Can't outsource recovery agents': RBI cracks the whip on M&M Financial

This is probably the first time the regulator has cracked down on lenders on recovery by coercive methods, which is typically a hallmark of outsourced recovery agents

CBI arrests ABG founder Rishi Agarwal in Rs 22,842-cr bank fraud case

The CBI arrested the founder-chairman of ABG Shipyard Limited, Rishi Kamlesh Agarwal, on Wednesday in connection with an alleged bank fraud of more than Rs 22,842 crore, officials said. The Central Bureau of Investigation (CBI) had booked Agarwal, a former chairman of the company, and others for the alleged offences of criminal conspiracy, cheating, criminal breach of trust and abuse of official position under the Indian Penal Code (IPC) and the Prevention of Corruption Act, they said. The company was sanctioned credit facilities from 28 banks and financial institutions led by the ICICI Bank, with the State Bank of India (SBI) having an exposure of Rs 2,468.51 crore, the officials said. A forensic audit by Ernst and Young has shown that between 2012 and 2017, the accused colluded with each other and committed illegal activities, including diversion and misappropriation of funds and criminal breach of trust. The funds were used for purposes other than for which they were released by