Greek crisis not to impact ICICI Bank: Chanda Kochhar

The country’s largest private sector lender ICICI Bank on Monday said it sees no impact of the Greek debt crisis on the bank as it has no exposure to Europe.

“We have no exposure in Europe. So the question of Greek debt crisis impacting the bank does not arise,” the bank’s managing director and chief executive Chanda Kochhar told PTI on the sidelines of its 21st AGM here.

There have been fears of the cash-strapped European nation missing its debt-repayment deadline of June 30.

The situation may prompt Greece’s European partners to shut the door on extending a credit lifeline after the country’s surprise move to hold a referendum on bailout terms.

Earlier in the day, Greece imposed capital controls and closed banks until at least July 6 after Prime Minister Alexis Tsipras decided to call a July 5 referendum on a proposed bailout package.

Meanwhile, Kochhar said the bank has declared an equity dividend of 250 per cent amounting to ₹5 a share for the recently concluded fiscal, adding that it has maintained a good dividend record for the last five years.

Its standalone profit after tax crossed the ₹10,000-crore mark for the first time, logging ₹11,178 crore in profits in 2014-15.

The bank will continue to focus on leveraging technology to deliver innovative and convenient banking solutions, capitalising on the growth opportunities that will arise as the economy grows; and sustaining its operating parameters, to further enhance the return on equity.

The ‘digital village’ initiative undertaken by the bank is an effort to leverage technology to improve the lives of people, Kochhar said.

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