BOM:542867

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ICICI Prudential AMC Gets RBI Nod to Invest in Four Banks

ICICI Prudential Asset Management (NSE:ICICIAMC, BOM: 544658) received Reserve Bank of India approval to acquire an aggregate holding of up to 9.95% in CSB Bank (BOM:542867, NSE:CSBBANK), DCB Bank (BOM:532772, NSE:DCBBANK), Kotak Mahindra Bank (BOM:500247, NSE:KOTAKBANK) and AU Small Finance Bank, according to an exchange filing.The approvals are subject to applicable statutory and regulatory conditions.The asset management company will make the investments on behalf of its mutual fund, alternative investment fund, and portfolio management service clients.

BOM:500247BOM:532772BOM:542867BOM:544658NSE:CSBBANKNSE:DCBBANKNSE:ICICIAMCNSE:KOTAKBANK

Asia128d ago

CSB Bank Posts Higher Fiscal Q4 Net Profit

CSB Bank (NSE:CSBBANK, BOM:542867) recorded an increase in its net profit to 2.02 billion Indian rupees in the fiscal fourth quarter against 1.90 billion rupees a year ago, according to a Monday filing to the stock exchanges.Shares of the bank fell nearly 2% in Tuesday's trade.Earnings per share during the quarter ended March 31 climbed to 11.62 rupees from 10.98 rupees a year earlier.Interest earned by the lender in fiscal Q4 also increased year on year to 12.0 billion rupees from 9.81 billion rupees, the filing said.

BOM:542867NSE:CSBBANK

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