India's second largest private lender ICICI Bank on Tuesday confirmed its exposure to the Singapore-based troubled oil trader Hin Leong Trading Pte Ltd (HLT) and said it is taking steps to protect its interest. "We confirm that the Bank, in the normal course of its business, has exposure to the borrower group in question, is taking due steps to protect its interests, and will appropriately reflect the same in its financial statements, as it would do in respect of all its banking exposures," ICICI said in a stock exchange filing. The Bank did not elaborate the extent of its exposure and the steps it is taking to protect its interest.
ICICI Bank (IBN) witnesses rise in revenues and higher expenses in third-quarter fiscal 2020 (ended Dec 31).
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of ICICI Bank Limited (ICICI) and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
India's ICICI Bank is seeking the impounding of two vessels operated by Ocean Tankers (Pte) Ltd, a unit of Singapore oil-trading company Hin Leong Trading Pte Ltd (HLT), an ICICI source said on Monday. The tankers, Wu Yi San and Chang Bai San, were carrying cargoes financed by ICICI, the source said, adding that the bank had about $100 million exposure to HLT.
In India, falling stock prices means bargains may be for the taking in what has been the most expensive big emerging market.
ICICI Bank (IBN) saw a big move last session, as its shares jumped nearly 10% on the day, amid huge volumes.
Carl Delfeld is a long-standing expert on international investing; more recently, he became the senior editor of Cabot Global Stocks Explorer. Here, he looks at a trio of Asian play in the financial sector.
Hedge funds and large money managers usually invest with a focus on the long-term horizon and, therefore, short-lived dips or bumps on the charts, usually don't make them change their opinion towards a company. This time it may be different. During the fourth quarter of 2018 we observed increased volatility and small-cap stocks underperformed the […]
At Insider Monkey, we pore over the filings of nearly 750 top investment firms every quarter, a process we have now completed for the latest reporting period. The data we've gathered as a result gives us access to a wealth of collective knowledge based on these firms' portfolio holdings as of September 30. In this […]
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Rating Action: Moody's takes rating actions on 11 Indian financial institutions, after change in sovereign outlook. Global Credit Research- 08 Nov 2019. Singapore, November 08, 2019-- Moody's Investors ...
Moody's Investors Service, ("Moody's") today affirmed the Baa1 long-term deposit, senior unsecured debt ratings and Counterparty Risk Ratings (CRRs) of ICICI Bank UK PLC ("ICICI UK"), as well as its Baa1(cr) Counterparty Risk Assessment (CR Assessment). Furthermore, Moody's affirmed ICICI UK's ba2 standalone Baseline Credit Assessment (BCA) , ba1 Adjusted BCA, Ba1 subordinated debt and (P)Ba3 junior subordinated programme ratings.
Rise in top line and lower credit costs support ICICI Bank's (IBN) fiscal Q2 results.
Revenue growth supports ICICI Bank's (IBN) fiscal Q4 results. However, increase in provisions is an undermining factor.
Moody's Investors Service ("Moody's") has affirmed the deposit ratings of ICICI Bank Limited ("ICICI") and Axis Bank Ltd ("Axis") at Baa3, and of IDBI Bank Ltd ("IDBI") at Ba2. The baseline credit assessment (BCA) and adjusted BCA of ICICI and Axis are affirmed at ba1. The BCA and adjusted BCA of IDBI has also been affirmed at b2.
Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]
Surprise tax cuts in India fueled the domestic stock markets as well as India stocks and India ETFs trading in the U.S. HDFC Bank stock popped.
Here are 5 stocks added to the Zacks Rank 5 (Strong Sell) List today
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of ICICI Bank UK Plc. London, 15 November 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of ICICI Bank UK Plc. and other ratings that are associated with the same analytical unit. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
Indian shares erased early gains to end little changed on Monday, weighed down by losses in ICICI Bank after Reuters reported its exposure to a troubled oil trader, while sentiment was hurt by rising coronavirus cases in the country. ICICI Bank Ltd was the biggest drag on the indexes, falling 3.8%, after Reuters reported that the bank had about $100 million exposure to troubled oil trader Hin Leong. Larger peer HDFC Bank Ltd, however, led gains with a 3.8% jump after the private-sector lender reported an 18% rise in quarterly profit and said it had shortlisted candidates for the position of chief executive officer.