ICICI Bank – Artifex.News

Mcap of 7 of top-10 most-valued firms erodes ₹1.13 lakh crore; Airtel, Reliance worst hit

admin — Sun, 30 Aug 2026 06:03:00 +0000

The combined market valuation of seven of the top-10 most-valued firms eroded by ₹1.13 lakh crore last week, with Bharti Airtel and Reliance Industries emerging as the biggest laggards, in-tandem with a bearish trend in equities.

Last week, the BSE benchmark Sensex declined 276.32 points, or 0.35%, and the NSE Nifty dipped 76.35 points, or 0.31%.

“Indian equity markets ended the week on a cautious note, extending their recent corrective phase as concerns over global interest rates, geopolitical uncertainty and volatility surrounding the new closing auction session weighed on investor sentiment,” Ajit Mishra — SVP, Research, Religare Broking Ltd, said.

Although markets recovered sharply on Friday (August 28, 2026), supported by strong buying in IT stocks following upbeat global technology cues, the benchmark indices remained under pressure for the third consecutive week, he added.

While Reliance Industries, Bharti Airtel, HDFC Bank, Bajaj Finance, Larsen & Toubro, Life Insurance Corporation of India (LIC), and Hindustan Unilever faced erosion from their market valuation, ICICI Bank, State Bank of India, and Tata Consultancy Services (TCS) were the winners.

The valuation of Bharti Airtel tumbled ₹40,500.85 crore to ₹11,74,462.30 crore.

Reliance Industries’ valuation eroded ₹40,056.32 crore to reach ₹17,38,119.27 crore.

The market valuation of HDFC Bank dropped ₹11,558.35 crore to ₹11,09,600.70 crore and that of Bajaj Finance fell ₹10,086.05 crore to ₹6,70,535.57 crore.

Larsen & Toubro’s market capitalisation (mcap) declined ₹6,473.45 crore to ₹5,55,987.49 crore and that of LIC dipped ₹3,162.5 crore to ₹5,32,817.81 crore.

The mcap of Hindustan Unilever edged lower by ₹1,550.73 crore to ₹4,72,361.83 crore.

However, the mcap of TCS jumped ₹16,643.2 crore to ₹8,48,079.71 crore.

The valuation of ICICI Bank climbed ₹4,475.28 crore to ₹10,22,805.73 crore and that of State Bank of India went up ₹599.99 crore to ₹9,65,568.75 crore.

Reliance Industries remained the most-valued firm, followed by Bharti Airtel, HDFC Bank, ICICI Bank, State Bank of India, TCS, Bajaj Finance, Larsen & Toubro, LIC and Hindustan Unilever.

Published – August 30, 2026 11:33 am IST

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ICICI Bank prices $1 billion debt at tighter spread

admin — Fri, 24 Jul 2026 15:41:00 +0000

ICICI Bank. File
| Photo Credit: Reuters

ICICI Bank has priced a $1 billion five-year dollar bond at a much tighter spread than initially indicated, in the largest such issue by an Indian lender in ‌nearly 14 years, three bankers said.

The bank set the coupon at 100 basis points over U.S. Treasuries, sharply ⁠lower than the initial guidance of 130 basis points, for its first dollar debt sale in nearly nine years. The coupon works out to be ‌5.46%.

The offering attracted $3 billion in bids against a base issue size of $500 million, the bankers said, speaking on condition ‌of anonymity because they were not authorised to speak to ‌the ⁠media.

ICICI Bank did not immediately respond to a ⁠Reuters request for comment.

The deal is the largest dollar bond sale by an Indian private-sector bank, and the second biggest by any local lender since State Bank of India’s $1.25 billion five-year issue ‌in January 2013.

The private bank becomes the latest to leverage the central bank’s lower-cost hedging facility, after the Reserve Bank of India last month introduced a swap facility allowing eligible external commercial borrowings ‌by banks and state-owned companies to be hedged at a fixed rate of 1.5% per annum, compounded semi-annually.

The measure significantly lowers hedging costs, making overseas dollar fundraising more ⁠attractive.

CreditSights had projected the bond to be priced at a spread of 95-100 bps, but places the fair value at 85 bps.

Analysts ‌Lim Ze Hao and Pramod Shenoi said ICICI Bank’s bonds were fairly valued at broadly flat to HDFC Bank’s debt and around 10 bps tighter than State Bank of India’s four-year dollar bonds after accounting for duration premium.

In June, HDFC Bank had raised $750 million through a five-year dollar debt sale at a spread of ‌92 bps over Treasuries. In the secondary market, it was traded at a spread of 94 bps.

Another private sector peer Axis Bank had raised an aggregate of $800 million through a dual-tranche ⁠dollar bond issue in June.

The proceeds from ICICI Bank’s issue will be ⁠used for general corporate purposes. The bonds are expected to be rated “Baa3” by Moody’s and “BBB” by S&P Global, in ‌line with the issuer.

In December 2017, ICICI Bank had raised $500 million through 10-year bonds at a coupon of 3.80%.

CreditSights has also upgraded its recommendation on these bonds to “outperform” from “market perform” earlier.

Published – July 24, 2026 09:04 pm IST

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ICICI Bank to retain majority holding in ICICI Prudential Life Insurance

admin — Mon, 18 May 2026 17:13:00 +0000

ICICI Bank on Monday said it intends to retain its majority shareholding in ICICI Prudential Life Insurance Company “ensuring our long-term commitment.”

The announcement, by way of a filing, comes on the heels of joint venture partner in the life insurance business Prudential Corporation Holdings saying Prudential Plc will acquire a 75% stake in Bharti Life Insurance as part of a strategic repositioning of its India operations for an initial cash consideration of ₹3,500 crore.

ICICI Bank holds 50.89% stake in the life insurance joint venture and Prudential Holdings 21.91%. The public shareholding is 27.20%.

Regulatory approvals for Prudential’s decision to acquire the controlling stake in Bharti Life require Prudential to reduce its shareholding in ICICI Prudential Life Insurance to under 10% as also cease to be a promoter of the company. Prudential said it is engaging with the relevant regulatory authorities and will seek an appropriate timeframe for any divestment that may be required.

Life insurance JV shares hit 52-week low

On Monday, ICICI Prudential Life Insurance Company shares ended 3.64% lower at ₹515.75 apiece on the BSE in a rebound after touching a new 52-week low at ₹489 intra-day.

Published – May 18, 2026 10:42 pm IST

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ICICI Bank Q4 net profit up 9% at ₹14,755 crore, provisions decline sharply

admin — Sat, 18 Apr 2026 11:13:00 +0000

ICICI Bank had reported a consolidated net profit of ₹13,502 crore in the year-ago period. File
| Photo Credit: Reuters

ICICI Bank’s consolidated net profit increased by 9.28% to ₹14,755 crore in the March quarter, according to an exchange filing on Saturday (April 18, 2026).

It had reported a consolidated net profit of ₹13,502 crore in the year-ago period.

On a standalone basis, the second-largest private sector lender’s net profit rose 8.5% to ₹13,702 crore compared to ₹12,630 crore in the year-ago period.

Published – April 18, 2026 04:43 pm IST

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ICICI Bank reports lowest attrition rate among private peers in last 3 fiscal years

admin — Sun, 10 Aug 2025 11:01:00 +0000

ICICI Bank.
| Photo Credit: Reuters

ICICI Bank has reported the lowest employee attrition rate among large private sector lenders in the last three financial years, reflecting higher stickiness due to competitive remuneration and a better working environment.

During the last three financial years, the industry has also witnessed a sustained decline on a year-on-year basis.

The employee attrition rate at the country’s second-largest private sector bank declined to 18% in FY25 from 24.5% in FY24, according to the bank’s latest Business Responsibility and Sustainability Reporting (BRSR) report.

During 2022-23, the bank reported an attrition rate of 30.9%, lower than its competitors.

Its larger peer, HDFC Bank, has recorded an employee attrition rate of 22.6% in FY25, compared to 26.9% in FY24. The attrition was 34.2% during 2022-23.

Similarly, the attrition was 25.5% for Axis Bank, down from 28.8% in FY24, and Kotak Mahindra Bank’s manpower exit rate fell to 33.3% from 39.6% in the previous year, according to their annual and BRSR reports.

For IndusInd Bank, the attrition rate was 29% in FY25, lower than 37% witnessed during 2023-24 and 51% in FY23.

Over the past three years, from FY23 to FY25, private sector banks have seen a southward movement in their employee attrition rates.

The slowing attrition rate can be attributed to a combination of factors like a subdued entry-level job market in the BFSI and fintech industries and the growth of digital services, said a senior HR executive of a bank, requesting anonymity.

Most private sector banks went on a recruitment frenzy post-pandemic, which led to a high attrition rate subsequently.

“Now, the market appears to be stabilised, meaning banks are not heavily recruiting and the entry-level employees are not leaving banks to join fintech companies,” said a senior HR executive of a private sector bank.

Published – August 10, 2025 04:31 pm IST

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ICICI Bank Q3 profit rises 15% to ₹11,792 crore

admin — Sat, 25 Jan 2025 11:14:54 +0000

ICICI bank. File
| Photo Credit: Reuters

ICICI Bank on Saturday (January 25, 2025) reported a 15% rise in standalone net profit at ₹11,792 crore for the third quarter ended December 2024.

The second-largest private sector lender had earned a net profit of ₹10,272 crore in the same quarter a year ago.

“Total income increased to ₹48,368 crore from ₹42,792 crore in the same period a year ago,” ICICI Bank said in a regulatory filing.

Interest income increased to ₹41,300 crore during the quarter under review as compared to ₹36,695 crore in the year-ago period.

On the asset quality front, the bank’s gross non-performing assets ratio improved to 1.96% as against 2.3% a year ago.

Similarly, net NPAs, or bad loans, came down to 0.42% from 0.44% at the end of the third quarter last fiscal year.

However, the overall provisions, excluding tax increased to ₹1,227 crore during the quarter from ₹1,049 crore a year ago.

The provision coverage ratio on non-performing loans was 78.2% as on December 31, 2024.

Capital Adequacy Ratio rose to 14.71% from 14.61% at the end of the third quarter of the previous financial year.

Published – January 25, 2025 04:44 pm IST

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Markets rebound in early trade on buying in ICICI bank, firm trends in Asian peers

admin — Mon, 28 Oct 2024 05:09:29 +0000

From the 30 Sensex pack, ICICI Bank climbed nearly 3% after the private sector lender posted a 14.5% growth in standalone profit to ₹11,746 crore for the second quarter ended September-2024. File
| Photo Credit: Reuters

Equity markets rebounded in early trade on Monday (October 28, 2024), driven by buying in the stock of blue-chip ICICI Bank, firm trends in Asian peers and continuous buying by domestic institutional investors.

The Bombay Stock Exchange (BSE) Sensex jumped 462.45 points to 79,864.74 in early trade. The National Stock Exchange (NSE) Nifty climbed 112.1 points to 24,292.90.

From the 30 Sensex pack, ICICI Bank climbed nearly 3% after the private sector lender posted a 14.5% growth in standalone profit to ₹11,746 crore for the second quarter ended September-2024.

State Bank of India, IndusInd Bank, Infosys, HCL Technologies, Asian Paints and Hindustan Unilever were the other big gainers from the pack.

JSW Steel, Larsen & Toubro, Power Grid and ITC were among the laggards. In Asian markets, Seoul, Tokyo and Shanghai were trading higher, while Hong Kong quoted lower.

The U.S. markets ended on a mixed note on Friday (October 25, 2024).

Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,036.75 crore on Friday (October 25, 2024), while Domestic Institutional Investors (DIIs) bought shares worth ₹4,159.29 crore, according to exchange data.

Global oil benchmark Brent crude eased 4.38% to $72.72 a barrel.

The BSE benchmark plummeted 662.87 points, or 0.83%, to settle at 79,402.29 on Friday (October 25, 2024). The Nifty tanked 218.60 points, or 0.90%, to 24,180.80.

Published – October 28, 2024 10:39 am IST

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Account Holders In 3 ICICI Bank Branches In Andhra Pradesh Lose Rs 28 Crore

admin — Thu, 10 Oct 2024 18:16:10 +0000

Further investigation is underway (Representational)

Vijayawada:

Account holders in three branches of ICICI Bank in Andhra Pradesh’s Palnadu and NTR districts have lost about Rs 28 crore.

The Crime Investigation Department (CID) is investigating that 72 account holders in the Chikaluripet and Narsaraopet branches in the Palnadu district and Vijayawada branch in the NTR district lost their fixed deposits and gold.

CID Additional Superintendent of Police Adinarayana said they took up the investigation on a complaint by Vijayawada Zonal Officer of the bank.

The CID officials were questioning some bank employees and looking into their role in the alleged diversion of funds from the accounts.

The scam came to light when account holders approached their respective bank branches as the interest on the fixed deposit was not credited to their accounts for the last two months. They were shocked when the bank officials informed them that their fixed deposit bonds were no longer valid.

The victims lodged a complaint with the police, which registered a case and transferred the same to CID for investigation.

ICICI Bank Zonal Officer in Vijayawada also approached the CID, seeking an investigation.

The CID received the complaint that one Naresh Chandrasekhar, who had worked as manager in Chilkaluripet, Narsaraopet, and Vijayawada branches of ICICI Bank, allegedly diverted the FDs. Some customers who had deposited cheques were also cheated.

“There are three to four categories of customers who were cheated. We are recording their statements,” the CID official said.

He said the irregularities had come to the notice of the bank authorities in July this year and Naresh was suspended. The bank had taken up a departmental inquiry against him.

The CID has sought reports of the inquiry conducted by the bank officials. He hoped that they would achieve a breakthrough in the case in 2-3 days.

Chilkaluripet MLA P. Pulla Rao assured support to the account holders. He requested the Bank officials to do justice to the victims.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Markets decline in early trade after two days of rally

admin — Wed, 11 Sep 2024 05:27:22 +0000

Exchange Data said that FIIs bought equities worth ₹2,208.23 crore on Tuesday (September 10, 2024). File
| Photo Credit: Reuters

Equity benchmark indices declined in early trade on Wednesday (September 11, 2024) after two days of gains amid selling in Tata Motors and weak trends in Asian markets.

The 30-share BSE Sensex fell 111.85 points to 81,809.44. The NSE Nifty dipped 39.2 points to 25,001.90.

Among the 30 Sensex firms, Tata Motors, ICICI Bank, Titan, HDFC Bank, JSW Steel, Tech Mahindra, UltraTech Cement and Axis Bank were the major laggards.

Asian Paints, Bharti Airtel, ITC and Hindustan Unilever were among the gainers.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading lower.

The U.S. markets ended mostly with gains on Tuesday (September 10, 2024).

Foreign Institutional Investors (FIIs) bought equities worth ₹2,208.23 crore on Tuesday (September 10, 2024), according to exchange data.

Global oil benchmark Brent crude climbed 0.59% to $69.60 a barrel.

The BSE benchmark climbed 361.75 points or 0.44% to settle at 81,921.29 on Tuesday (September 11, 2024). The NSE Nifty surged 104.70 points or 0.42% to 25,041.10.

Published – September 11, 2024 10:57 am IST

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ICICI Bank Q1 results: profit rises 10% to ₹11,696 crore

admin — Sat, 27 Jul 2024 11:11:26 +0000

ICICI Bank on July 27 reported 9.96% increase in June quarter consolidated net profit at ₹11,695.84 crore. The company had logged a profit of ₹10,636.12 crore in the same period of 2023-24.
| Photo Credit: Reuters

ICICI Bank on July 27 reported 9.96% increase in June quarter consolidated net profit at ₹11,695.84 crore.

The company had logged a profit of ₹10,636.12 crore in the same period of 2023-24.

On a standalone basis, the country’s second-largest private sector lender reported 14.62% rise in profit at ₹11,059 crore as against ₹9,648.2 crore in the year-ago period.

Total income rose to ₹45,998 crore in April-June FY25 from ₹38,763 crore a year ago, as per an exchange filing by the lender.

Expenses jumped to ₹29,973 crore from ₹24,624 crore.

Overall provisions came in at ₹1,332.18 crore as against ₹1,292.44 crore for the year-ago period, and ₹718.49 crore in the March quarter.

Gross non-performing assets ratio was stable at 2.36% as on June 30, 2024.

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