Tuesday 30 September 2008

Baseless and malicious - Kamath

In a statement, Mr K.V. Kamath, Managing Director and CEO, said, “ICICI Bank is aware that rumours are being repeatedly circulated in certain centres regarding the financial strength of the bank. The bank states that these rumours are baseless and malicious.”

The bank said the absorption of the impact of current market conditions on investment portfolio valuation will not pose any challenge to the bank’s capital position.

It has a capital adequacy ratio of 13.4 per cent as on June 30, 2008, which reflects the healthy capital position and comfortable level of leverage.

The stock on Tuesday, which had suffered heavy pressure on Monday, gained 8.42 per cent on the Bombay Stock Exchange and closed at Rs 534.85 against the previous close of Rs 493.30. On Monday, the share was down 12.11 per cent.

Posted by Harsh at 21:58

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