Tag Archives: ICICI

ICICI Prudential to take over Sahara Life’s insurance business

ICICI Prudential is the only company to be publicly listed as of now. Photo: AFP New Delhi: ICICI Prudential Life Insurance Co. Ltd has agreed to take over the life insurance business of Sahara India Life Insurance Co. Ltd, which was effectively wound up by the regulator last month. “ICICI Prudential Life has agreed to take over the policyholders’ liabilities of ... Read More »

ICICI, Axis, SBI Gain, RBI To Get Power To Act Against Loan Defaulters

Shares of public and private sector lenders were witnessing good buying interest in trade today a day after the Union Cabinet empowered the Reserve Bank of India (RBI) to act against wilful defaulters. The Union Cabinet cleared an ordinance empowering the Reserve Bank of India (RBI) to act against wilful defaulters. The ordinance has been sent to the president for ... Read More »

ICICI Prudential Life to hire banks for up to $700 mln IPO

ICICI Prudential Life Insurance is set to hire Bank of America Merrill Lynch and ICICI Securities for its planned $600 million to $700 million initial public offering (IPO), IFR reported on Friday citing two sources close to the plans. Other banks are likely to join the syndicate for the IPO that is expected in the current financial year ending March ... Read More »

NPA pains to continue at ‘elevated levels’ this fiscal year: ICICI Bank

ICICI Bank, which posted a massive plunge in net profit in the March quarter on a spike in bad loans, expects the asset quality pain to continue at “elevated levels” this fiscal with the top private lender putting a whopping Rs 44,000 crore more of assets on a watch-list. “There are significant uncertainties around future trends and it is expected ... Read More »

ICICI Bank’s dim view of bad loans drives quarterly profit to decade low

ICICI Bank (ICBK.NS), India’s largest private sector lender, expects more loans made to sectors like steel may sour, a belief that forced it to set aside a bigger sum to cover any losses from them and drove its quarterly profit down to a decade low. Indian lenders including ICICI have seen their bad loans surge in the past six months ... Read More »