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ICICI Bank

ICICI clocks net profit of $1 bn

by Indo-Asian News Service April 26, 2008 Business

Mumbai, April 26 (IANS) India’s second largest bank ICICI Bank Ltd posted a net profit of $1 billion (Rs.40 billion) during 2007-08 as compared to $775 million of the previous fiscal.

This was achieved despite the US sub-prime mortgage crisis that affected the bank’s overseas business.
In the last quarter of the fiscal (January-March), the bank, which [...]

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ICICI Bank repurchases bonds worth $50 million

by Indo-Asian News Service March 7, 2008 Business

India’s largest private sector lender ICICI Bank Friday said it has repurchased its 6.625 percent bonds worth $50 million and subsequently “extinguished” them.
An ICICI Bank spokesman told IANS that by extinguishing, the bonds now stand “cancelled”.
These were a part of bonds worth $2 billion issued Oct 3, 2007 from the Bahrain branch of the bank [...]

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Markets fall for 4th day in a row, ICICI Bank slumps

by Agencies March 4, 2008 Business

After the meltdown on Monday, the benchmark Sensex dropped another 338 points, stretching the downward trend for the fourth day in a row, with banking stocks sliding on reports of ICICI Bank reporting a market to market loss of 264.34 million dollar.
“Following the sub-prime crisis overseas, ICICI Bank’s overseas operations had reported market-to-market [...]

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ICICI Bank loses $264 million to sub-prime crisis

by Indo-Asian News Service March 4, 2008 Business

India’s leading private bank ICICI Bank has suffered losses of over $264 million due to the sub-prime mortgage meltdown in the US, the highest loss reported by an Indian bank.
Minister of State for Finance P.K. Bansal told the Indian parliament that owing to the sub-prime crisis in US markets, ICICI Bank’s international operations had suffered [...]

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ICICI Bank opening branch in New York

by Indo-Asian News Service February 26, 2008 Business

ICICI Bank, India’s largest private sector bank, is opening its first branch in the US, in New York, on Friday.
K.V. Kamath, managing director and chief executive officer, and Sonjoy Chatterjee, executive director of the bank, will be present at the opening of the branch.
On the occasion, Kamath will ring the closing bell at the New [...]

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