ICICI Bank to foray into credit cards, Internet banking etc - Views on News from Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  
  • Home
  • Outlook Arena
  • Mar 28, 2000 - ICICI Bank to foray into credit cards, Internet banking etc

ICICI Bank to foray into credit cards, Internet banking etc

Mar 28, 2000

ICICI Bank is likely to make a series of launches in the area of credit cards, Internet banking and other related areas such as e-commerce. Credit Cards being an overcrowded market, the bankís success in this sector is open to doubt. ICICI Bank is a leading private sector bank promoted by Indiaís leading development financial institution ICICI. The advances of ICICI Bank have grown by 50% in 1999-2000.

ICICI Bank is all set to install 2000 ATMís all over the country. This will facilitate banking around the clock.

ICICI Bank is also likely to come out with an American Depository Shares (ADS) issue with a view to improve its capital adequacy ratio. The ADS issue will provide the bank with adequate funds for its acquisition plans and maiden ventures. The issue is likely to evoke a positive response in view of the fact that ICICIís issue was oversubscribed on the NYSE recently.

In line with a recent RBI announcement ICICI is to bring down itís holding in ICICI Bank from 74% to 40%. This will provide more of operational autonomy to ICICI Bank.

As of now the Non Performing Assets (NPAs) are 2.9 per cent of the advances, but this is likely to go up significantly owing to the recent RBI pronouncement directing ICICI Bank to make an additional provision to the extent of 135 m. This will adversely impact the bottom line.

ICICI Bank along with HDFC Bank has been one of the earliest to provide net based services. This has given the bank a headstart over its nearest competitors and has enabled it to bag loyal clientele for itself.Most private sector banks have consolidated their client bases by virtue of providing efficient and courteous service. It has also endeavoured to keep procedural formalities to a bare minimum and has been engaged in providing hassle free banking.

This is likely to increase in view of the recent launch of ICICI Direct.com which facilitates web based stock trading which requires ICICI bank to be the depository.


Equitymaster requests your view! Post a comment on "ICICI Bank to foray into credit cards, Internet banking etc". Click here!

  

More Views on News

BANK OF INDIA Announces Quarterly Results (2QFY20); Net Profit Up 123.0% (Quarterly Result Update)

Nov 4, 2019 | Updated on Nov 4, 2019

For the quarter ended September 2019, BANK OF INDIA has posted a net profit of Rs 3 bn (up 123.0% YoY). Sales on the other hand came in at Rs 107 bn (up 9.1% YoY). Read on for a complete analysis of BANK OF INDIA's quarterly results.

How the YES Bank Collapse Unfolded - 10 Points (Sector Info)

Mar 9, 2020

A timeline of how YES Bank went from a stock market darling to a pariah.

Today's Stock Market Crash: 10 Points (Sector Info)

Mar 6, 2020

Top factors that dragged the markets lower today.

BANK OF INDIA Announces Quarterly Results (1QFY20); Net Profit Up 155.1% (Quarterly Result Update)

Jul 31, 2019 | Updated on Jul 31, 2019

For the quarter ended June 2019, BANK OF INDIA has posted a net profit of Rs 2 bn (up 155.1% YoY). Sales on the other hand came in at Rs 103 bn (up 3.2% YoY). Read on for a complete analysis of BANK OF INDIA's quarterly results.

More Views on News

Most Popular

Why We Picked This Small-cap Stock for Our Hidden Treasure Subscribers (Profit Hunter)

Sep 17, 2020

This leading household brand will profit big time in a post covid world.

My Top Stock to Buy in this Market Selloff (Profit Hunter)

Sep 22, 2020

The recent correction offers a great opportunity to buy this high conviction smallcap stock.

What Do the Charts Say About Buying Smallcaps Now? (Fast Profits Daily)

Sep 18, 2020

Everyone seems to be excited about buying smallcaps now...but is it the right thing to do? What do the charts tell us? Find out in this video...

How Much Money Do You Need to Be a Professional Trader? (Fast Profits Daily)

Sep 17, 2020

In this video I'll answer a question I get asked often: How much capital do I really need to trade the markets for a living? Let's find out...

More

Covid-19 Proof
Multibagger Stocks

Covid19 Proof Multibaggers
Get this special report, authored by Equitymaster's top analysts now!
We will never sell or rent your email id.
Please read our Terms

BANK OF INDIA SHARE PRICE


Sep 25, 2020 (Close)

TRACK BANK OF INDIA

  • Track your investment in BANK OF INDIA with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
  • Add To MyStocks

BANK OF INDIA 5-YR ANALYSIS

COMPARE BANK OF INDIA WITH

MARKET STATS