ICICI Bank Reports Robust Q2 Results
ICICI Bank reported a rise in its 2Q2022 net profits by 32% YoY to INR 55bn ($742mn). The bank’s net interest income (NII) rose 25% YoY to INR 116bn ($1.6bn) and fee income grew 21% YoY to INR 381bn ($513mn). Profits were helped by a 9% reduction in provisions...
Indian Banks Expected to Raise ~$2bn via Offshore AT1s
Five top Indian banks – HDFC Bank, SBI, Axis Bank, ICICI Bank and Bank of Baroda (BoB) are expected to raise a combined ~$2bn via offshore AT1s to boost their capital bases as demand for credit increases. ET sources report that Axis and HDFC Bank are likely to...
