ICICI Bank faces $264 million credit hit


ICICI Bank, the second largest bank in India by assets, has taken total mark-to-market (MtM) losses of $264.3 million in the 10 months to January 31, due to its exposure to credit derivatives and other investments, says ICICI joint managing director Chanda Kochhar.

The bank charged $90 million to the profit-and-loss account in the nine months to December 31, and an additional $70 million will be set aside in the fourth quarter, Kochhar said in the bank's latest earnings statement - ICICI's

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

If you already have an account, please sign in here.


Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here