ICICI may loose around RS 375 Crore as US major Lehman has filed for Brankruptcy. ICICI hs already provided $12 million against the investment in these bonds. Considering 50% recovery estimate, ICICI is planning to provide for additional $28 million against the expected losses. The total exposure of the ICICI Bank is less than 1% of its total assets which is over Rs 4.8 lakh crore.
On Tuesday, while ICICI bank stock fell by over Rs 6% to close at Rs 591, the public sector bnk scrips surged smartly.
The 30 share sensitive index of BSE closed at 13,518.80, down 12.47 pints after falling over 400 points in the morning.
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