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How to Pick Mutual Funds That Beat the Market

  Smart Strategies for Investing in Mutual Funds: A Guide to Maximising Your Returns One of the most well-liked investing options for people looking for expert management and diversification without having to choose individual equities is a mutual fund. One of the easiest ways for people to accumulate wealth over time is through mutual fund investments. Mutual funds combine the capital of numerous individuals to invest in a diverse portfolio of stocks, bonds, and other securities, in contrast to direct stock market investing, which necessitates considerable time, study, and risk tolerance. Mutual funds are a well-liked option for both new and experienced investors due to their expert management and diversification. But merely investing in a mutual fund and crossing your fingers seldom yields the best outcomes. A comprehensive approach that matches the appropriate fund selection and management strategies with your financial objectives, risk tolerance, and investment timeline is nece...

Chinese government bank bought stake in ICICI Bank among 'Boycott China'

  There is tension in the country about China. Amid the boycott of Chinese goods and the anti-China environment, the news is that People's Bank of China has bought a stake in ICICI. However, experts say that this does not pose any threat to the national interest.   In March last year, China's central bank increased its investment in HDFC to over 1 per cent. Then there was a lot of ruckus on it. People's Bank of China is among the 357 institutional investors including mutual funds, insurance companies who have recently invested Rs 15,000 crore in ICICI Bank's Qualified Institutional Placement (QIP) offer. ICICI Bank tried to raise money from institutional investors to raise capital and its target was met only last week.   People's Bank of China has invested just Rs 15 crore in ICICI and this investment has come through qualified institutional placements. Other foreign investors include the Government of Singapore, Morgan Investment, Societe Generale, etc. Exp...

Singapore government hikes stake in ICICI Bank | Increased from 2.12% to 13.2%

  The Singapore government has increased its stake in ICICI Bank. The government of Singapore invested Rs 1,662.71 crore in ICICI Bank's Qualified Institutional Placement (QIP) offer. This increased his stake in the bank by 11.08 per cent. The Singapore government previously held 2.12 per cent stake in ICICI Bank at the end of the last quarter, according to BSE data. After the fresh investment, its stake in the bank rose to a total of 13.2 per cent. In the information given to the stock markets, the bank said that over 4.64 crore shares were offered to the Singapore government in QIP, which is equivalent to 11.08 per cent stake of the bank.   The Singapore government was the largest investor in the bank's latest QIP. ICICI Bank has raised about Rs 15,000 crore by allocating shares under QIP. In this offer, the bank issued around 41.9 crore shares at an issue price of Rs 358 per share.   The bank's shares closed at Rs 361.40, down 1.81 per cent on the NSE on Friday...

ICICI Bank announces QIP of equity shares, floor price @ Rs 351.36 per share

  Private sector ICICI Bank on Monday announced a Qualified Institutional Placement for equity shares. The bank has set a minimum floor price of QIP at Rs 351.36 per share. The board of ICICI Bank will meet on August 14 to decide the issue price of QIP. ICICI Bank said in a stock exchange filing, 'The meeting of the Issues Committee of the Board of Directors of the bank has been held on Friday, 14 August 2020. This meeting has been held to determine the issue price of equity shares after considering each other.   ICICI Bank received Rs 3,036 crore in the exchequer in the June quarter after the sale of 3.96 per cent stake in ICICI Lombard General Insurance and 1.50 per cent stake in ICICI Prudential Life Insurance. Significantly, HDFC Bank recently set a floor price of Rs 1,838.94 per share for its QIP issue with an aim to raise Rs 14,000 crore.   What is QIB, let's first know about it, QIP or Qualified Institutional Placement is largely a fundraising tool for the Stock Ma...

HDFC Bank’s MD Aditya Puri is the highest-paid banker in India

HDFC Bank MD Aditya Puri was the highest-paid banker in the last financial year. He received Rs 18.92 crore. Last year, his salary and allowances increased by 38 per cent. Puri also earned an additional Rs 161.56 crore from stock options in the last financial year, according to the bank's annual report. Puri has made HDFC Bank the largest private bank in the country in terms of assets for more than 25 years. HDFC Bank also became the most valuable bank for investors during this period. Puri is going to retire in October this year after turning 70. According to the bank's annual report, group head and change agent Shashidhar Jagdishan received a salary of Rs 2.91 crore in the last financial year. According to reports, he is also among those selected as a possible plea for Puri. Sandeep Bakshi, MD and CEO of the second-largest private bank ICICI Bank, grossed Rs 6.31 crore in the last financial year. Bakshi took the position in October 2018. According to the bank...

Former UTI CEO Leo Puri to take charge of JP Morgan India | Kalpana Morparia will retire after 12 years

Former CEO of UTI, Leo Puri will take over as chairman of foreign investment bank JP Morgan India. Kalpana Morparia, a well-known banker, will retire in the first quarter of 2021. Morparia commended the bank for the last 12 years. This change has come when the Supreme Court has ordered the attachment of JP Morgan's property in the Amrapali Group case. The bank has given information in its internal memo that Leopuri will take charge of the bank. However, Kalpana Morparia will continue in office till then. JPMorgan has said that Kalpana Morparia, chairman of South and South East Asia, appealed to retire from the company. She will remain in the bank until the first quarter of 2021. She will also continue to help the bank in South and Southeast Asia. The reason is that the company and customers are trying to balance with the new economic and work environment. Kalpana Morparia worked at ICICI Bank for 33 years before joining JPMorgan. During his tenure, ICICI Bank CEO was KV...

SBI reduces interest rates on FD, know latest rates of SBI, HDFC Bank and ICICI Bank

The country's largest bank SBI has reduced the interest rate on Fixed Deposit (FD) this month. The bank has cut the interest rate on FD of different duration from 0.10 per cent to 0.50 per cent for less than two crore rupees. These fresh rates announced by the State Bank became effective from March 10, 2020. After the recent revision, the bank will now pay interest at the rate of 4%, 5% on FD of seven days to 45 days, 46 days to 179 days. At the same time, interest on FD of less than one year from 180 days is getting interest of 5.50%. The FD for a period of one year to ten years is getting interest at the rate of 5.90%. Senior citizens get 0.50 per cent more interest than ordinary people. Banks fix their FD rates based on the repo rate and other benchmark rates set by the Monetary Policy Committee of Reserve Bank of India (RBI). Top banks like SBI, HDFC Bank and ICICI Bank offer FDs ranging from seven days to 10 years. In such a situation, if you are thinking of ...