Mr. KV Kamath, Managing Director and CEO of ICICI Bank said that the bank is well equipped to face the global financial crises. 

Despite the financial turmoil, ICICI Bank will continue to uphold a fair growth in its balance sheet. He said that "malicious rumours" are being spread to strike down its share price. 

Speaking to a private TV channel here on Friday, Kamath said, “I just want to reiterate ICICI Bank is an extremely healthy institution.” 

Tehran - Iran's Central Bank Chief Tahmasseb Mazaheri has resigned and is to soon be replaced by the bank's general secretary Mahmoud Bahmani, Fars news agency reported Saturday.

Mazaheri, who declined to comment on the report but did not deny it, is said to have had grave differences with President Mahmoud Ahmadinejad over economic policies, and observers had considered him as the most likely next official to leave Ahmadinejad's administration.

Frankfurt - A German bank that handed over 350 million euros this week to bankrupt Lehman Brothers and got nothing in exchange may pursue criminal charges against its own executives, a report said Saturday.

KfW, a government bank that administers federal shareholdings and passes out soft loans to home-owners, was dubbed "Germany's dumbest bank" by the mass-circulation newspaper Bild when the scandal broke.

Munich - Two more German public banks, Bayern LB and NRW Bank, disclosed Friday they were exposed by the collapse this week of US investment bank Lehman Brothers.

The admissions came a day after a federally controlled German bank KfW said its exposure to Monday's Lehman failure totalled 536 million euros (772 million dollars).

In a letter to staff obtained by Deutsche Presse-Agentur dpa, Munich-based Bayern LB, which is controlled by Bavaria state, put its risk at up to 300 million euros (432 million dollars).

Stock market analysts have maintained ‘buy’ rating on ICICI Bank stock with an intraday target of Rs 588. 

According to them, interested traders can purchase the stock above Rs 576 with a strict stop loss of Rs 557. If the stock market remains positive, the stock pricing becomes more attractive, and reach above Rs 602. 
 
Shares of the company, on Thursday (Sep 18), closed at Rs 575.85 on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 4581171. Current EPS & P/E ratio stood at 36.93 and 16.06 respectively. The share price has seen a 52-week high of Rs 1465 and a low of Rs 515.10 on BSE. 

The interest rates on foreign currency non-resident FCNR (B) account deposits and non resident external (NRE) term deposits were raised by State Bank of India (SBI) on Wednesday, to come into effect from today.

 FCNR (B) deposits in US Dollar, which matures in 1-2 years, had rate of interest raised from 2.46 percent, to 2.96 percent.

According to a press released statement, “Rates for deposits having a 2-3 years, 3-4 years and 4-5 years tenures have been hiked to 3.06 percent (2.56), 3.38 per cent (2.88) and 3.6 per cent (3.10) respectively.”