RBI permits ICICI-Pru AMC and ICICI-Pru Life to acquire up to 9.95% stake in RBL Bank
The approval has been granted with reference to an application submitted by I-Pru AMC and I-Pru Life to RBI
The approval has been granted with reference to an application submitted by I-Pru AMC and I-Pru Life to RBI
As of date, it has approximately 3 million credit card customers and is the fifth largest credit card issuer in the country with approximately 5 per cent market share.
CASA ratio stood at 31.8 per cent, higher than 29.6 per cent a year ago.
For ICICI Prudential Life, the partnership will deepen and further strengthen its multi-channel distribution network.
It can be noted that Indian banks are on a capital raising spree since the onset of the pandemic because they expect heavy losses due to the economic impact of lockdowns.
The bank said during the July-September period, its core net interest income (NII) grew 7 per cent to Rs 932 crore, but was down 10 per cent as compared to the preceding June quarter.
The bank's net interest income jumped 38 per cent to Rs 1,021 crore, compared with Rs 739 crore a year ago.
The corporate agency agreement was signed between both the organisations in Mumbai.
