New Delhi: The country's largest private
sector lender, ICICI Bank, today said there would be no
revision in interest rates for sometime, even as major players
like SBI and PNB have slashed deposit rates.
"There is nothing like taking a call on interest rate on
daily basis and dynamic basis, when there is a need to change
we change it, but given the current scenario I think interest
rate would remain stable for sometime," ICICI Bank CEO and
Managing Director Chanda Kochhar told reporters at the India
Economic Summit here.
Country's largest lender SBI and Punjab National Bank,
last week, cut deposit rates by 0.25-0.50 percentage points to
reduce cost of funds.
Speaking about bad assets, Kochhar said addition to
non-performing assets (NPAs) was down on quarter-on-quarter
basis and provisions were down.
"I think peak should be behind us (NPA level) and going
forward we should see an improvement in this regard (reduction
in NPA level)," she said.
ICICI Bank's net non-performing assets, as on September
30, 2009, stood at 2.36 per cent compared to 1.91 per cent in
the year-ago period.
Bureau Report
First Published: Tuesday, November 10, 2009, 20:40