ICICI Bank net declines 34%

28 October, 2017, 01:18 | Author: Jeffery Armstrong
  • Capture1

ICICI, among the three domestic banks considered "too big to fail" by the country's central bank, reported a net profit of 20.58 billion rupees ($316.51 million) in the quarter ended September 30, missing analysts' expectations of 24.91 billion rupees. The bank had been expected to post a profit of Rs2,570.10 crore, based on a Bloomberg poll of 21 analysts.

Gross bad loans as a percentage of total loans jumped to 1.82 percent at end-September from 0.97 percent a quarter earlier and 0.83 percent in the year-ago period. The fall in profit is attributable to the one-time gain of ₹5,682 crore booked in the second quarter of the previous financial year.

The gross and net NPA as on September 30 stood at Rs 32,457.50 crore and Rs 16,482.52 crore.

Minister claims innocence, BJP under attack over journalist's arrest
The Police said Verma is charged under sections of extortion, criminal intimidation and wrongful confinement. However, BJP circles claim that Vinod Verma is a close relative of the state Congress Chief Bhupesh Baghel .

In the year-ago quarter, the lender had gained Rs5,682.03 crore by selling a stake in its life insurance arm.

Its managing director and chief executive Chanda Kochhar attributed the fall in profit primarily due to the one time gain previous year, which dwarfs the approximately Rs 2,100 crore made through the sale of stake in general insurance arm during the reporting quarter.

Net interest income increased 9% on a year-on-year basis to ₹5,709 while net interest margin remained stable sequentially at 3.27% in Q2-2018, and increased 14 basis points as compared with the year-earlier period. Kochhar said they included Rs 651 crore in provisions towards dud assets mandated to be resolved under the insolvency laws.

Thomas Tuchel frontrunner for Everton job after Ronald Koeman gets sacked
Everton caretaker manager David Unsworth wants Ross Barkley to stay at Goodison Park, he has revealed in a press conference. Dyche said: "It's very flattering, I've been linked with other situations before".

Shares of Yes Bank on Friday tanked almost 10 percent as the company's bad loan situation worsened during the second quarter of 2017-18 fiscal.

At ICICI Bank, gross NPA additions declined to Rs4,674 crore in the fiscal second quarter from Rs4,976 crore a quarter ago and Rs8,029 crore a year ago.

The write-offs came at Rs 2,298 crore, while the recoveries and upgrades stood at Rs 1,029 crore.

Army Sgt. Bowe Bergdahl: Who is he?
The sergeant did not have a plea deal set up, so he may well get a life sentence in a hearing scheduled for this Monday. The judge, who said there was no doubt he could be fair and impartial, did not immediately rule .

The provisioning against NPAs rose from Rs 1,558.37 crore in September quarter 2016-17 to Rs 1,949.81 crore in the quarter under review. She forecast domestic loan growth in the financial year to be about 15 percent, led by as much 20 percent rise in retail loans. The outstanding exposure to these accounts is Rs10,476 crore, and 98.7% of the amount is classified as an NPA.

Recommended:

  • Microsoft beats forecasts as cloud boosts quarterly results

    Microsoft reported revenue of $24.5 billion for the quarter, up almost 12 percent over the same period a year ago . Surface revenue finally saw some growth, as it had been declining for a while due to the lack of new hardware.
    Daredevil: D'Onofrio's Kingpin Returns For Season 3

    Daredevil: D'Onofrio's Kingpin Returns For Season 3

    With his return, rumors are brewing that we will see " Daredevil " season 3 adapt " Born Again ", a famous comic book arc. D'Onofrio did an excellent job portraying the complex and layered villain of Daredevil's first season.
    Hard Drive Missing From Las Vegas Shooter's Laptop

    Hard Drive Missing From Las Vegas Shooter's Laptop

    Unlike some other mass killers, Mr Paddock did not leave behind a note, manifesto or video explaining his actions. The incident became the largest mass shooting in USA history, leaving 58 dead and over 500 injured.
  • NY  bans vaping anywhere cigarettes are prohibited

    NY bans vaping anywhere cigarettes are prohibited

    The dangers of e-cigarettes have become a hot debate topic in recent years, even as the devices have seen massive popularity. When this new measure will be implemented as New York's new law, it will cover vaping in the State's Clean Indoor Air Act.
    BJP to observe first anniversary of DeMo as 'anti-black money day'

    BJP to observe first anniversary of DeMo as 'anti-black money day'

    He pointed out that sale of gold through digital transactions doubled this time on dhanteras festival. The government collected resources before it moved yesterday to infuse money into banks, he said.
    Spurs set Premier League attendance record in Liverpool thrashing

    Spurs set Premier League attendance record in Liverpool thrashing

    A majority of 14 of the 20 top-flight clubs must back any changes for them to be passed. But a meeting set for Wednesday was called off as no decision was close.
  • OnePlus 5T vs OnePlus 5: What's the rumoured difference?

    According to the site, the device will be powered by a Snapdragon 835 processor and features a 6-inch QHD Full HD+ display. The Chinese phone manufacturer is now in the process of launching an upgraded version of OnePlus 5 which is OnePlus 5T .
    Apple Pay Lands In More Countries

    Apple Pay Lands In More Countries

    Cue said the company is looking at India's payments market, though a specific launch time frame was not shared. Apple Pay can be used at payment terminals where the Apple Pay or contactless card symbol is visible.
    NAACP warns black passengers about traveling with American Airlines

    NAACP warns black passengers about traveling with American Airlines

    In the advisory, the NAACP listed four incidents in which black passengers said they were discriminated against by AA employees. William Barber, who sued American after being removed from a flight past year .
  • Twitter bans ads from Russian media outlets

    Twitter bans ads from Russian media outlets

    In its latest quarterly report, Twitter said that since 2014 it has double-counted users running some third-party apps. On Twitter , advertising largely consists of the platform promoting a user's tweets in exchange for money.
    Dodgers Leave Ex-Tiger Granderson Off World Series Roster

    Dodgers Leave Ex-Tiger Granderson Off World Series Roster

    He went 3 for 11 with four walks in the NL Division Series against Arizona, but tweaked his back during a slide in Game 3. Granderson also made a superb leaping catch in Game 1 , part of an equally consistent defensive effort during the series.
    Daniel Day-Lewis' final screen performance teased in first Phantom Thread trailer

    Daniel Day-Lewis' final screen performance teased in first Phantom Thread trailer

    Until then, get excited for Phantom Thread , and wonder to what degree Day-Lewis' character is a projection of PTA himself. This time, Paul Thomas Anderson has lensed his own film by serving as cinematographer for this lovely motion picture.


Popular

Khloe Kardashian steps out in a baggy sweatshirt amid pregnancy rumors Video
Khloe Kardashian arrived at the venue wearing a black oversized hoodie instead of her usual skin-tight fashion. However, the baggy sweatshirt concealed any possible glimpse of her baby bump .

Patriots DT Malcom Brown misses practice Thursday
Hightower has played in all 16 regular-season games just once in his National Football League career to date, in 2013. A bunch of guys have to step up and kind of try to fill that role - and in this case, a bunch of different roles.

Bad Rabbit ransomware sweeps across Russian Federation and Europe
The Flash download has been installed in websites using JavaScript injected into the HTML or Java files of the affected websites. The United States Computer Emergency Readiness Team (US-CERT) has advised victims not to pay ransom if they fall for BadRabbit.

Apple Faces A Major Challenge With iPhone X
It's not hard to imagine a scenario in which Apple only has half as many iPhone X units as it was supposed to this year. The iPhone X caps Apple's 2017 refresh of its phone lineup, which comes a decade after the first iPhone hit the market.

Apple acquires New Zealand-based wireless charging company
AirPower will be able to charge multiple devices , including the iPhone and Apple Watch, at the same time. PowerbyProxi founder, Fady Mishriki, said that he, along with his team, is thrilled to join Apple .

HIV-positive ex-school aide allegedly sexually assaulted 42 students
Carlos DeAngelo Bell faces 206 charges on accusations of sexually assaulting 42 underage students and recording it on video. According to the State's Attorney for Charles County, Maryland, the victims range in age from 11 to 17 years old.

Netflix's 'Bright': Will Smith Fantasy-Drama Gets Second Official Trailer
Bright is genre-bending action movie that follows two cops from very different backgrounds. Bright will be released on Netflix on December 22.

Metal Gear Survive Launches February 20, 2018
Metal Gear Survive was originally scheduled for a 2017 release, but was pushed back to allow more time to polish the game . In addition, the Metal Gear Solid 5 follow-up features a cooperative multiplayer component.

The Kit Kat Quesadilla has arrived at Taco Bell
If Taco Bell can stuff a tortilla with three different types of Doritos, why not a candy bar filling for a quesadilla? And if the social media response to its Kit Kat "Chocoladilla" is any indication, it's probably correct.

Tuesday Apple Rumors: iPhone X Will Be Available for Walk-In Customers
The Bernstein survey polled 1,112 iPhone owners in the USA , U.K., and China reports Reuters . As a reminder , pre-orders for the 5.8-inch iPhone X begin this Friday, Oct. 27 at 12:01 a.m.