NEW DELHI: ICICI Bank, the rustic's largest private lender reported a 45.17 in line with cent loss in its consolidated profit for the fourth quarter (Dec '17- March '18) on an year-on-year foundation. The financial institution's web profit got here at Rs 1,141.93 crore, down from Rs 2,082.75 crore in the same quarter ultimate 12 months.
Despite the loss, the financial institution's performance got here above Street's expectancies as a Reuters ballot of economists had predicted the This autumn profit at Rs 955.7 crore, thus signalling a 52.7 in line with cent loss.
The financial institution alternatively, noticed a gain of 18 in line with cent as far as total income is enthusiastic about stood at Rs 33,760.07 crore.
The financial institution in its financial observation for the fourth quarter mentioned no choice on the conflict-of-interest accusations in opposition to chief govt Chanda Kochhar stemming from loans given to the defaulting Videocon.
The issue of compromise of company governance got here to the fore when investor and whistleblower Arvind Gupta racked up the problem within the March.He alleged quid pro quo between Videocon Group and ICICI Bank's chief govt officer (CEO) as well as her members of the family with recognize to extending a mortgage price Rs three,250 crore. It used to be alleged that Videocon Group pumped money into NuPower Renewables, a company owned by Deepak Kochhar, husband of Chanda Kochhar.
There also are allegations that NuPower were given investments of Rs 325 crore from Mauritius-based Firstland Holdings, an organization owned by Nishant Kanodia, son-in-law of Essar Group co-founder Ravi Ruia.
The total assets of ICICI Bank got here at Rs 1,124,281.04 crore at the end of the financial 12 months 2017-18.
The private lender's income from operations within the fourth quarter stood at Rs 33,760 crore, up 18 in line with cent, when put next from Rs 28,603 crore in the same length ultimate 12 months.
The ICICI Bank inventory had a just right trading session on Monday because the scrip rose 2.30 in line with cent on BSE. The broader marketplace closed with a near 1 in line with cent gain.
Gross dangerous loans as a share of total loans used to be eight.84 in line with cent at the end of March, when put next with 7.82 in line with cent at the end of the former quarter and seven.89 in line with cent a 12 months earlier.
The board of the financial institution advisable a dividend of Rs 1.50 in line with fairness share of face value of Rs 2 every, topic to needful approvals.
Despite the loss, the financial institution's performance got here above Street's expectancies as a Reuters ballot of economists had predicted the This autumn profit at Rs 955.7 crore, thus signalling a 52.7 in line with cent loss.
The financial institution alternatively, noticed a gain of 18 in line with cent as far as total income is enthusiastic about stood at Rs 33,760.07 crore.
The financial institution in its financial observation for the fourth quarter mentioned no choice on the conflict-of-interest accusations in opposition to chief govt Chanda Kochhar stemming from loans given to the defaulting Videocon.
The issue of compromise of company governance got here to the fore when investor and whistleblower Arvind Gupta racked up the problem within the March.He alleged quid pro quo between Videocon Group and ICICI Bank's chief govt officer (CEO) as well as her members of the family with recognize to extending a mortgage price Rs three,250 crore. It used to be alleged that Videocon Group pumped money into NuPower Renewables, a company owned by Deepak Kochhar, husband of Chanda Kochhar.
There also are allegations that NuPower were given investments of Rs 325 crore from Mauritius-based Firstland Holdings, an organization owned by Nishant Kanodia, son-in-law of Essar Group co-founder Ravi Ruia.
The total assets of ICICI Bank got here at Rs 1,124,281.04 crore at the end of the financial 12 months 2017-18.
The private lender's income from operations within the fourth quarter stood at Rs 33,760 crore, up 18 in line with cent, when put next from Rs 28,603 crore in the same length ultimate 12 months.
The ICICI Bank inventory had a just right trading session on Monday because the scrip rose 2.30 in line with cent on BSE. The broader marketplace closed with a near 1 in line with cent gain.
Gross dangerous loans as a share of total loans used to be eight.84 in line with cent at the end of March, when put next with 7.82 in line with cent at the end of the former quarter and seven.89 in line with cent a 12 months earlier.
The board of the financial institution advisable a dividend of Rs 1.50 in line with fairness share of face value of Rs 2 every, topic to needful approvals.
ICICI Bank Q4 profit slumps 45%, no decision on Chanda Kochhar
![ICICI Bank Q4 profit slumps 45%, no decision on Chanda Kochhar]()
Reviewed by Kailash
on
May 07, 2018
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