Important News About ICICI Bank And Market Updates

ICICI Bank Q4 net rises 21%, Shares Fall On Profit Booking

India's largest private sector lender ICICI Bank  on Friday reported 21 percent year-on-year rise in its fourth quarter (January-March) net profit at about Rs 2,300 crore on standalone basis, driven by robust growth in net interest income (NII) or the difference between interest earned and paid out. During the same period, NII grew forecast beating 22 percent to Rs 3,800 crore.

Analysts on an average were expecting net profit at Rs 2307 crore (or 21 percent Y-o-Y) and NII at Rs 3,644 crore (or 17 percent Y-o-Y) for the quarter.

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ICICI Bk Rules Out Money Laundering, Sees Transaction Error

India's largest private sector lender - ICICI Bank has not traced any evidence of alleged money laundering cases within it. It has just completed its internal investigation based on charges made by a media sting operation on top three private sector lenders. However, the bank has hinted at some transactional errors that may have occured during the process.

HSBC Cuts Gold, Silver Price Forecasts For 2013, 2014

HSBC lowered its gold forecast for this year and next on Friday, saying the recent tumble in prices for the yellow metal has dealt a severe blow to investor confidence, which may take many months to restore.

The bank cut its 2013 gold price forecast to USD 1,542 per ounce from USD 1,700 and the 2014 price outlook to USD 1,600 per ounce from USD 1,720.

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