IMA NEWS
Good Morning! This Monday morning Image presents you the latest happening in IMA in the current edition of IMAge.
The first internal assessments of the IMA batch were held on the 22nd and 23rd of February, 2008. The results are expected to be released on a one-to-one basis in this week. The next assessments for Basic of IT and Managerial communication is expected to be held on 15th of March. Other exams will be held during the first week of April.
A new caterer will render services to all IMA participants and this change is to take effect from the first week of March. The caterer services will also appease the palate of non-vegetarians as the menu is going to be reformed to accommodate everyone’s taste. Also the female participants will be served breakfast at the academy like their male counterparts.
Gymnasium facilities for women have already commenced from the 25th of this month. Also yoga timings at the women’s hostel have been revised.
IMA participants celebrated Valentine’s Day on 14th February. Various performances like dance, skits were staged. There were quite a few participants who livened the occasion with their melodious voice..
IMA cricket tournament to be held between 8 sections. It will be Knock out tournament series. First round of matches will be held on 2nd of March and then semi-finals and finals will be held on 9th of March.
In order to avoid accommodation inconveniences caused at the two hostels, a few participants will be shifted to the IMA Bangalore campus. Some participants have voluntarily submitted their name for the same.
ICICI NEWS
AWARDS AND RECOGNITION 2008
The asset triple and transaction banking award 2008:
Best trade finance bank in India.
Best transaction bank in India.
Best cash management bank in India.
Best domestic custodian in India.
Mr. K.V.Kamath, MD and CEO of ICICI bank awarded the “Padmabhushan.”
ICICI’s UK arm in Germany with Frankfurt branch
ICICI bank UK, a wholly owned subsidiary of ICICI Bank, is entering the German market, with its Frankfurt branch being launched on Thursday in Frankfurt. The branch is a member of the Association of German Banks. The bank will serve customers through internet and telephone banking. It will also focus on serving corporate business with significant Germany-Indian Linkages. ICICI Bank Uk has launched a cal money account product “HiZins” with an interest rate of 4.75 %. This would be no-frills saving account with withdrawals available on a daily basis, and no restriction on the amount that can be deposited. The Customer will be served through a call centre that will be located in Germany.
2007 FINANCIAL RESULTS
HIGHLIGHTS
Profit after tax for the quarter ended December 31, 2007 (Q3-2008) increased 35% to Rs. 1,230 crore (US$ 312 million) from Rs. 910 crore (US$ 231 million) for the quarter ended December 31, 2006 (Q3-2007). Operating profit excluding treasury income increased 37% in Q3-2008 to Rs. 1,977 crore (US$ 502 million) from Rs. 1,442 crore (US$ 366 million) for the quarter ended December 31, 2006 (Q3-2007).
Net interest income increased 32% to Rs. 1,960 crore (US$ 497 million) for Q3-2008 from Rs. 1,485 crore (US$ 377 million) for Q3-2007. Current and savings account deposits increased 33% to Rs. 62,494 crore (US$ 15.9 billion) at December 31, 2007 from Rs. 47,062 crore (US$ 11.9 billion) at December 31, 2006 resulting in an increase in CASA ratio to 27% at December 31, 2007.
Total advances increased 25% to Rs. 215,517 crore (US$ 54.7 billion) at December 31, 2007 from Rs. 172,763 crore (US$ 43.8 billion) at December 31, 2006. Profit after tax for the nine months ended December 31, 2007 (9M-2008) increased 32% to Rs. 3,008 crore (US$ 763 million) from Rs. 2,285 crore (US$ 580 million) for the nine months ended December 31, 2006 (9M-2007).