I’m only focused on my job, says ICICI Bank CEO Chanda Kochhar

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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ICICI Bank’s Managing Director and Chief Executive Officer Chanda Kochhar on Monday made it clear that as a professional, she is only focused on her job.

Addressing the first media interaction since the Videocon loan controversy, she said board has made its stand very clear that ICICI Bank will continue to co-operate with investigative agencies and nothing was discussed on Monday’s meeting.

Read also: ICICI Bank Q4 net profit falls 50% to Rs 1,020 crore

Kochhar said tomorrow’s board meeting is a usual one that happens annually to focus on strategy and annual plans.

Soothing investors in the backdrop of a series of allegations of impropriety in ICICI Bank, she added that there is no risk to the stability of the bank.

Talking on non-performing assets (NPA), she said additions may happen but will be less than past year.

Kochhar confirmed that government nominee Lok Ranjan, a joint secretary in the department of financial services, was not able to attend the board meeting.

“Don’t see any future impact from Reserve bank of India’s February Circular on stressed assets,” she said in the press conference.

ICICI Bank on Monday reported 45% decline in consolidated net profit to Rs 1,142 crore for the fourth quarter ended March 31, 2017-18.

It had a net profit of Rs 2,083 crore in the January-March quarter of the preceding fiscal, 2016-17.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow