INSUBCONTINENT EXCLUSIVE:
ICICI bank, country second-largest private lender, said its board met on Tuesday to discuss about the budget and financial outlay for
financial year 2018-19 and not to discuss Videocon loan case
"The Board today met to discuss the budget and the financial plan for the current fiscal," an ICICI Bank spokesperson said
"The board meets at the beginning of every year to discuss this agenda
The Videocon loan was not discussed in the meeting.On Monday, ICICI Bank MD and CEO Chanda Kochhar had said that the private lender's Board
meeting on Tuesday is a "normal" one to deliberate upon budget and strategy for the current financial year.The meet comes after the banking
major on Monday reported a 50 per cent decline in its stand alone net profit for the quarter ended March 31, 2018 and said that it plans to
deploy a "preserve, change and grow" strategy to get back to the growth trajectory.The bank's standalone net profit for the fourth quarter
of 2017-18 decreased to Rs 1,020 crore from Rs 2,025 crore reported for the corresponding period of the previous fiscal.However, ICICI
Bank's net interest income inched up to Rs 6,022 crore in the quarter ended March 31, 2018 from Rs 5,962 crore earned in the period ended
