NEW DELHI: ICICI Bank reported a marvel internet lack of Rs 119.55 crore in the June quarter because of upper provisions for bad loans and treasury losses. This is the lender's first quarterly loss in no less than 16 years. The bank had reported a profit of Rs 2,049 crore in the same quarter last 12 months. ICICI Bank's gross non-performing buyer assets stood at Rs 53,464.94 crore in Q1 in comparison to 43,147.64 crore in the same length last 12 months.
Analysts on reasonable had expected a internet profit of Rs 1,462 crore, consistent with Thomson Reuters I/B/E/S.
This is the rustic's largest private lender's first quarterly income in the absence of its leader government (CEO) and managing director Chanda Kochhar. Kochhar is on her "annual leave which was planned in advance" that was adopted by means of an unbiased inquiry into the Videocon loan case.
Also, it will be the first after Sandeep Bakhshi become the bank's new leader working officer (COO) in June this 12 months. Recently, the lender appointed Sandeep Batra sign up for as new president - Corporate Centre. Batra was previously the executive director of ICICI Prudential Life Insurance.
Earlier this month, the bank had determined to postpone its annual basic meeting (AGM) by means of a month amidst unbiased enquiry performed by means of Justice BN Srikrishna on alleged cases of impropriety against Kochhar.
The meeting has been rescheduled to September 12 as against the former time table of August 10.
Ahead of its income, the bank's shares closed more than 2 in keeping with cent up on both the BSE and NSE indexes.
Meanwhile, the bank has also allocated 92,046 equity shares (face price of Rs 2 each) on July 26 under the workers stock possibility scheme, 2000 (ESOS).
(With inputs from Reuters)
Analysts on reasonable had expected a internet profit of Rs 1,462 crore, consistent with Thomson Reuters I/B/E/S.
This is the rustic's largest private lender's first quarterly income in the absence of its leader government (CEO) and managing director Chanda Kochhar. Kochhar is on her "annual leave which was planned in advance" that was adopted by means of an unbiased inquiry into the Videocon loan case.
Also, it will be the first after Sandeep Bakhshi become the bank's new leader working officer (COO) in June this 12 months. Recently, the lender appointed Sandeep Batra sign up for as new president - Corporate Centre. Batra was previously the executive director of ICICI Prudential Life Insurance.
Earlier this month, the bank had determined to postpone its annual basic meeting (AGM) by means of a month amidst unbiased enquiry performed by means of Justice BN Srikrishna on alleged cases of impropriety against Kochhar.
The meeting has been rescheduled to September 12 as against the former time table of August 10.
Ahead of its income, the bank's shares closed more than 2 in keeping with cent up on both the BSE and NSE indexes.
Meanwhile, the bank has also allocated 92,046 equity shares (face price of Rs 2 each) on July 26 under the workers stock possibility scheme, 2000 (ESOS).
(With inputs from Reuters)
ICICI Bank reports net loss of Rs 120 crore in Q1
![ICICI Bank reports net loss of Rs 120 crore in Q1]()
Reviewed by Kailash
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July 28, 2018
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