The Union Cabinet on Friday approved a reconstruction plan proposed by the RBI for bailing out fund-starved Yes Bank.
The YES Bank reconstruction plan will include an equity investment of at least Rs 11,350 crore from various entities, including multiple private lenders.
Hours after the Cabinet approved restructuring scheme for YES Bank, private lenders ICICI Bank, HDFC, Kotak Mahindra Bank and Axis Bank came to the cash-strapped bank's rescue
The ICICI Bank in a regulatory filing said that the board has approved an equity investment of up to Rs 1000 crore in equity shares of YES Bank Limited
"This investment is likely to result in ICICI Bank Ltd holding in excess of 5 per cent shareholding in Yes Bank," the lender said in a regulatory filing.
The Sensex fell nearly 2,000 points, as foreign investors liquidated their investments for safe haven assets such as US bonds. As prices of bonds rise, yields fall.
While PhonePe declined to comment on the banks it is in talks with, sources said PhonePe is engaged in dialogue with State Bank of India, HDFC Bank, Axis Bank and RBL Bank.
Court accepts the bank's stance that Kochhar's petition has no legal basis as the lender is a private banking company and the petition seeks to contest purely private contractual terms
ICICI Bank sought dismissal of Kochhar's petition
At 8x FY21 estimated book, even as it is the most expensive lender, the stock remains among the preferred picks in the banking pack
Technical Calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor
The bank is seeking recovery of amounts towards the clawback of bonuses given to her from April 2006 to March 2018 after her termination of services by the bank
The stock price has given breakout on the daily chart by trading above the downward sloping trendline resistance.
While lack of clarity on outlook of insurance business has weighed on valuations of parent firms, retail loan growth and fee income need to be closely watched
On standalone basis, its net profit jumped to Rs 4,146 crore during the December 2019 quarter from Rs 1,605 crore in the year-ago period
Banking counters were leading the charge from the front with ICICI Bank becoming the biggest contributor toward's today's gain, ahead of its December quarter results tomorrow
As per estimates by Motilal Oswal Financial Services, the bank is poised to write-back provisions worth Rs 2,100 crore (Essar Steel), & Rs 400 crore (Rs 200 crore each from Ruchi Soya & Bhushan Power)
December quarter (Q3) was a mixed ICICI Bank's subsidiaries - namely ICICI Lombard, ICICI Securities (I-Sec), and ICICI Prudential Life Insurance (I-Pru Life)
The value of MF holdings in in ICICI Bank increased by Rs 2,900 crore in December
The bank is seeking recovery of amounts towards the clawback of bonuses given to her from April 2006 to March 2018 after her termination of services by the bank