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Icici Bank

All articles tagged with #icici bank

finance1 year ago•5 min saved

"Inflation Data Sparks Dow Jones Dive, Nvidia Gains in Market Correction"

The Dow Jones Industrial Average fell as inflation data came in higher than expected, with Nvidia rising despite a market correction, while Tesla, Apple, and Microsoft struggled. The tech-heavy Nasdaq and benchmark S&P 500 also dropped, with sectors like real estate and utilities being hit the hardest. The latest consumer price index reading stoked inflation fears, leading to a negative impact on stocks. Additionally, some stocks showed strength near buy points, including Icici Bank and Axon Enterprise.

via Investor's Business Daily|

#dow-jones #finance #icici-bank

finance2 years ago•5 min saved

"ICICI Bank Scandals: Millions Stolen from Customers' Accounts"

Shveta Sharma accuses a manager at ICICI Bank of defrauding her by siphoning off $1.9m from her account, alleging that he created fake accounts, forged her signature, and manipulated her bank records. Despite the bank admitting the fraud, Sharma is still waiting for her money back, rejecting the bank's offer to deposit a lesser amount with a lien. This incident comes after another case of fraud involving an ICICI branch manager and his aides in Rajasthan.

via BBC.com|

#banking #finance #financial-crime

business2 years ago•1 min saved

Indian Banks ICICI and Kotak Mahindra Beat Profit Estimates in Q1

ICICI Bank, India's second-largest private lender, reported a record net profit of 96.48 billion rupees ($1.18 billion) for the April-June quarter, surpassing analysts' expectations. The bank's strong performance was attributed to higher interest income and loan growth. Net interest income rose by 38%, while net interest margin expanded to 4.78%. Despite expectations of margin compression, ICICI Bank's executive director expressed confidence in maintaining similar net interest margin for the year. The bank's asset quality remained stable, with gross non-performing assets at 2.76%. ICICI Bank plans to continue expanding its branch network.

via Reuters|

#asset-quality #business #icici-bank