PR Log - ICICI Bank Ltd growth

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                                             ICICI Bank Ltd growth

       By Pokjat Personal Finance
       Dated: Dec 30, 2009

       ICICI Bank Ltd. (ICICIBC IN): The country's second-biggest lender is raising up to 12 billion rupees ($257
       million) by selling bonds

       The financial tsunami, so that the world's largest bank lending conservative, but the State Bank of India
       (State Bank of India) but because people move to the state-owned bank deposits, a huge cash, and can
       ignore the economic plight, and actively expand lending operations and thus help support the India's
       economic growth.

        In terms of assets, the Government of India holding 60% of the SBI is India's largest banks, but the bank
       has always been a conservative style, only bearing deposits for the traditional business, has never been
       involved in financial derivatives products. Of private banks have lost confidence in the people who have
       recently transferred deposits, the bank's depositors in the fourth quarter of last year's jump of nearly 40%.

        The influx of cash deposits to SBI overflowing with money, the bank has recently reduced interest rates
       and the bank's customers grab opponents, but also to prevent India from struggling with playing the role of
       a global recession.

        39-year-old phone company employees Chatterjee, personal deposits and mortgages in the past has always
       been in India's largest private bank ICICI Bank (ICICI). But in the past six months, he saw banks around
       the world have fallen to the private bank's confidence has vanished. This month, he decided to individual
       deposits and 4 million in mortgages moved to SBI.

        Major banks around the world have the whole business with the tightening the occasion, SBI is expanding
       rapidly in the past year, new recruits 25000 employees and 10000 this year, plans to recruit and prepare the
       country an additional 4,000 ATMs and 2,000 branches, so that revenue base to 1 million.

        As the SBI and other Indian state-owned banks have ample financial resources, coupled with the economic
       downturn to lenders, so that the Indian economy seems healthy compared with many other countries. This
       year, India's economic growth rate forecast is still 6%, although not as good as 9% in the past two years, it
       has hard to come by.

        Founded more than 200 years of SBI bank, have experienced British colonial era, the post-independence
       by the Indian government formally takes over, has since been given the mission to enhance the national
       well-being. In the past, which means that with the Government's policy-based lending, and in unprofitable
       to set up branches in remote areas. But in the past 15 years, government intervention, fewer, SBI
       independence of the higher and higher, so that the modernization of firms to pursue profits, and compete
       with the private banks.

        SBI Bank's recent decision to reduce the mortgage, car loans and small business lending rate. At present
       the bank's mortgage rate was just 8% lower than the competition more than 2%.


        According to statistics, India's state-owned bank last year's total lending operations grew 29%, higher than
       in 2007 20%. Excluding the funds required for normal operation, SBI banks are currently sitting on nearly
       20 billion U.S. dollars in cash, if used properly, will allow the bank to become the wave of global economic


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PR Log - Global Press Release Distribution




downturn a big winner.

Chexsystems info:
http://www.chexsystems.info/2009/12/26/which-banks-do-not-use-chexsystems/
First Asia Pasific Islamic world mastercard
http://www.pokjat.com/2009/12/22/first-islamic-world-mastercard-in-asia-pacific/
Maybank information:
http://www.bankviews.info/2009/12/maybank-ib-and-mizuho-securities-sign.html

Category           Banking, Finance, Loans
Tags               banking, icici bank ltd, bonds, Finance, Money
Email              Click to email author




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