ICICI Bank, the country’s largest private sector lender, is looking at consolidating its position in the overseas market by shrinking its equity investment in its subsidiaries in the United Kingdom and Canada. The lender has significantly reduced its equity stake in both these subsidiaries from 11.8 per cent at the end of March 31, 2010, to 4.8 per cent at the end of FY16.

At the end of the quarter ended March, in rupee terms, the net advances of the overseas branches also decreased by 0.3 per cent, whereas in US dollar terms, the net advances decreased six per cent.

ICICI Bank's senior management will not receive performance bonus for FY16, Managing Director and Chief Executive Officer Chanda Kochhar said in an analysts' conference call on Friday.

The decision comes at a time when the bank is reeling under bad loans, which are expected to remain elevated in the coming quarters. Also, the management has forecast lower net interest margin, a key indicator of profitability, by 20 basis points in FY17. For FY16, NIMs were recorded at 3.49 per cent.

ICICI Bank has increased its stake in the debt-laden IVRCL Limited to 11.43% by acquiring a fresh 39.91 million shares amounting to 7.3% of the equity share capital of the company. Prior to the fresh acquisition the bank held 22.57 million equity shares or 5.03% of the total equity capital at that point of time.

The bank has acquired the shares on a cumulative basis under the terms of the Strategic Debt Restructuring(SDR) between June 25, 2015 to April 13, 2016, according to a filing issued to the BSE.

The India story today got some unqualified support from ICICI Bank MD and CEO Chanda Kochhar, who said it remains “a very, very bright spot” because of its young demography and has leapfrogged technology like none other.

The India story today got some unqualified support from ICICI Bank MD and CEO Chanda Kochhar, who said it remains “a very, very bright spot” because of its young demography and has leapfrogged technology like none other.

After a steady increase in bad loans, India’s largest private sector lender ICICI Bank has decided to tighten its corporate lending growth and apply breaks on growing its corporate books.

According to a presentation made to investors in March, the bank has decided to limit the growth in corporate loans (including international) to about 10 per cent year-on-year (y-o-y). This comes at a time when after several quarters of single-digit growth in corporate book, the bank had finally begun to see an uptick in corporate loans. Among private-sector lenders, ICICI Bank has the largest corporate loan book, which at the end of the quarter ended December 2015 was at 28.8 per cent out of the Rs 4,34,800-crore loan book.

MUMBAI: Banks are taking the battle to mobile wallet companies, armed with their readymade payment systems, wide merchant network and an on tap customer base, attempting to reclaim a turf which just a couple of years ago was their fiefdom.

In the past year, large lenders like ICICI Bank, State Bank of India, Axis Bank, and HDFC Bank, which together control around 40 per cent of local banking assets, have launched new payment instruments as they seek to prevent customers from moving money to newly emerging non-bank companies.

Banking shares are trading higher on expectation that the Reserve Bank of India (RBI) may soon announce a reduction in key policy rate. The central bank's monetary policy review is scheduled for April 5, 2016.

The US Federal Reserve kept its key interest rates unchanged on Wednesday, and downgraded its forecast for number of rate increases to 2 in 2016 from the earlier projected 4.

Country’s largest private sector lender ICICI Bank today launched a smartphone-based application which will allow users to pay for purchases by simply tapping their smartphones on a merchant terminal at a shop.

The service, launched today for the employees of the bank, will soon be made available for over 35 million debit and credit card holders of the lender, ICICI Bank’s Executive Director Rajiv Sabahrwal told reporters on a concall.

The country's largest private sector lender ICICI Bank has hit the international bond market with a $500-million (Rs 3,346.25 crore) issue. The bond sale is part of the bank's $7.5-billion (nearly Rs 50,193.75 crore) global medium-term note programme and is the first from a private sector domestic financial institution this year.

"ICICI Bank is in the overseas debt market with a planned $500 million (nearly Rs 3,346.25 crore) bond sale which will have a 10-year maturity. The bank has given a pricing guidance of 230 basis points above the US treasury," industry sources told PTI on Monday.

The stock of ICICI Bank was among the biggest gainers among banking sector peers, up over 3% in Monday's trade. But, as analysts point out, the sharper gains may not sustain for long given the pressure on the asset quality front.

For one, last week itself, in a report dated March 9, ratings agency Moody's said ICICI Bank's asset quality woes will spill over to FY17 as well. This view is echoed by most analysts as well given the bank's exposure to some larger, troubled groups in the steel and power sectors (10% of its domestic loans).

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