Key Developments: ICICI Bank Ltd (ICBK.BO)

ICBK.BO on Bombay Stock Exchange

23 Oct 2014
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Rs5.40 (+0.34%)
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Latest Key Developments (Source: Significant Developments)

Tata Power Company Ltd Ties Up With ICICI Bank Ltd For Bill Payments In Mumbai-Business Standard
Tuesday, 11 Jun 2013 07:30am EDT 

Business Standard reported that Tata Power Company Ltd has collaborated with ICICI Bank Ltd for bill payments in Mumbai. Customers can walk in any ICICI Bank branch and pay their bills either in cash or cheque it said. This option is over and above the existing online and offline modes of payment, it said in a statement.  Full Article

Reserve Bank of India Penalizes Axis Bank Ltd, HDFC Bank Ltd, ICICI Bank Ltd-DJ
Monday, 10 Jun 2013 09:36am EDT 

Dow Jones reported that India's central bank said June 10, 2013 it has imposed penalties on the country's three private-sector banks after it found that they have violated anti-money-laundering and customer-verification rules. The Reserve Bank of India imposed a fine of INR50 million ($860,00) on Axis Bank Ltd., INR45 million ($774,000) on HDFC Bank Ltd. and INR10 million ($172,000) on ICICI Bank Ltd.. The RBI said it scrutinized the books of these banks and evaluated the business processes at their headquarters and some branches in March and April following allegations that they had violated the rules.  Full Article

ICICI Bank Ltd Recommends Dividend
Friday, 26 Apr 2013 04:49am EDT 

ICICI Bank Ltd announced that the Board of Directors at its meeting held on April 26, 2013 has recommended a dividend of INR20 per equity shares for the year ended March 31, 2013 (previous year dividend of INR16.50 per equity share). The Board of Directors has also recommended a dividend of INR100 per preference share on 350 preference shares of the face value of INR10 Millions each for the year ended March 31, 2013.  Full Article

Manulife Financial Corp, HDFC Life Said To Bid For HSBC Holdings PLC's India Insurance Arm; ICICI Bank Ltd And Prudential PLC's ICICI Prudential Life To Bid For Stake-Reuters
Tuesday, 9 Apr 2013 11:19pm EDT 

Reuters reported that Manulife Financial Corp and the Indian affiliate of Standard Life plc are among the suitors to place first-round bids for HSBC Holdings PLC's Indian life insurance business, a stake valued at about $200 million. HSBC is selling its 26% stake in a life insurance joint venture (JV) with two Indian state-run banks, as it sheds noncore businesses globally. The winner of the auction will get immediate access to about 5,500 branches of the two state-run banks. Bancassurance is emerging as a key tool to sell insurance products across Asia as the life insurance industry matures in the region. HDFC Life, a joint venture between India's top mortgage lender Housing Development Finance Corporation Ltd (HDFC) and Standard Life Plc; Birla Sun Life, a venture between Indian conglomerate Aditya Birla Group and Canada's Sun Life; and ICICI Prudential Life, a JV between ICICI Bank Ltd and Prudential PLC, are among the bidders to submit first round bids last week. HSBC's two Indian partners in the venture, Canara Bank Ltd and Oriental Bank Of Commerce Ltd could also pare their stakes, although no final decision has been made on this. That could push the deal value to $800 million, including a bank distribution agreement, they added.  Full Article

Ecobank Transnational Signs Deal To Partner With India's ICICI Bank Ltd-The Economic Times
Monday, 8 Apr 2013 10:55am EDT 

The Economic Times reported that Pan-African lender Ecobank Transnational (ETI) has signed a memorandum of understanding to partner with India's ICICI Bank Ltd to make itself a hub for Indian investment into Africa, Ecobank's CEO said. CEO Thierry Tanoh told the Reuters Africa Investment Summit that a similar alliance with South Africa's Nedbank.  Full Article

ICICI Bank Ltd, HDFC Bank Ltd, Axis Bank Ltd Probing Money Laundering Accusations-Reuters
Thursday, 14 Mar 2013 05:40am EDT 

Reuters reported that India's top private sector lenders ICICI Bank Ltd, HDFC Bank Ltd and Axis Bank Ltd said they were investigating allegations of widespread money laundering practices at their branches.  Full Article

ICICI Bank Ltd, Aircel Launches Mobile Banking Service Mobile Money-Business Standard
Tuesday, 5 Feb 2013 11:08am EST 

Business Standard reported that Telecom services provider Aircel in partnership with ICICI Bank Ltd has launched mobile banking service, Mobile Money, running on Visa's mobile managed service. The service financial services like cash deposits and withdrawals, third party money transfer and utility bill payments on user's mobile phones. The customers will be able to use the service without a data connection service, Aircel said in a statement. The service will be initially be available in Tamil Nadu, it said, adding that rollout to other parts the country will happen during 2013.  Full Article

ICICI Bank Ltd Announces Allotment of Equity Shares
Tuesday, 15 Jan 2013 02:57am EST 

ICICI Bank Ltd announced that the Bank has allotted 36,765 equity shares at face value of INR10 each on January 14, 2013.  Full Article

ICICI Bank Ltd Raises SGD225 Million From Seven Year Bond Sale Programme-Business Standard
Thursday, 10 Jan 2013 10:33am EST 

Business Standard reported that ICICI Bank Ltd has raised SGD225 million from a seven-year bond sale programme through its Dubai branch at a coupon rate of 3.65%. The bank had given an initial price guidance of 4% while the final pricing saw of tightening of 0.35%. The issue was oversubscribed by over 13 times to SGD3 billion, the lead banker to the issue StanChart said. StanChart, HSBC and ANZ were the lead managers to the issue, which was closed on January 10, 2013.  Full Article

Perdaman Seeks AUD3.5 Billion In Damages From ICICI Bank Ltd In Coal Case-Reuters
Thursday, 10 Jan 2013 04:07am EST 

Reuters reported that Australia's Perdaman Chemicals and Fertilisers sought to widen its legal battle against India's Lanco Infratech Ltd over a stalled coal-to-urea project by launching a AUD3.5 billion ($3.68 billion) damage claim against ICICI Bank Ltd the lender to Lanco's Griffin Coal unit.  Full Article

Fitch Affirms Ratings on 9 Indian Banks; Pressure on Asset Quality

(The following statement was released by the rating agency) MUMBAI/SINGAPORE, September 03 (Fitch) Fitch Ratings has affirmed the ratings on nine Indian banks. The Long-Term Issuer Default Ratings (IDR) on State Bank of India (SBI), Bank of Baroda, Bank of Baroda New Zealand (BOB NZ), Punjab National Bank, Canara Bank, IDBI Bank, ICICI Bank and Axis Bank have been affirmed at 'BBB-' while Indian Bank has been affirmed at 'BB+'. The Outlook on the IDRs is Stable. A full list of rating action

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