UwidoNews

ICICI Bank joint managing director Chanda Kochar was Friday named the bank's next chief executive. She will assume charge May 1 from K.V. Kamath, who will take over as the non-executive chairman from N. Vaghul. Kochar, a veteran with ICICI Bank - India's largest private sector bank - has been serving on the board of directors since 2001.

The buzz is getting stronger of a recast of top managerial personnel at ICICI group. CNBC-TV18’s Sajeet Manghat reports.It is learnt from sources that a recast of the top managerial personals of ICICI group is on the cards. The buzz that Shikha Sharma is quitting ICICI Prudential Life is getting stronger by the day, and if that happens, V Vaidyanathan, the current Executive Director of ICICI Bank, will take over as MD and CEO of ICICI Prudential Life.

ICICI Bank plans to press the accelerator on growth once the deposit base mix gets realigned towards a higher percentage of low-cost deposits.The bank plans an aggressive increase of current account and saving account CASA to 33 per cent from the present level of 28 per cent by next year, said Chanda Kochhar,the new chief executive officer and managing director of ICICI Bank.

ICICI Bank may consider acquiring Bank of Rajasthan (BoR), whose promoters are being pushed by the Reserve Bank of India (RBI) to offload their stake. If the deal were to go through, then what are the synergies and over lapses, lets analyze – ICICI Bank’s 2,000 branch network would be complemented by BoR’s 463 branch network.

State-run infrastructure financing company IIFCL on Friday said the World Bank will disburse USD 1.2 billion loan next month for its various infrastructure projects."We have been told on Thursday, that they (World Bank) are doing $ 1.2 billion (disbursing it) in April meeting," India Infrastructure Finance Company Ltd (IIFCL) Chairman SS Kohli told reporters on the sidelines of a FICCI summit here, when asked about assistance from the World Bank.

Kalpana Morparia, vice chairperson, ICICI Bank, has quit the bank. Morparia was joint managing director till May 2007. The bank has confirmed the resignation of Morparia.

India’s second-largest lender, ICICI Bank, has shot off a legal notice to a senior official of HDFC Bank, for airing views on ICICI in a HDFC Bank business magazine.

A person, who duped several private finance institutions and a corporate bank to the tune of Rs 1.75 crore, and his two associates were arrested.

Two leading lenders ICICI Bank and IDBI Bank on Friday reduced their deposit rates by up to 100 basis points (bps) across various maturities.Click on the link to read the story in detail.