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Net profit goes down, no bonus for higher officials in ICICI
Posted on: 03/May/2016 5:25:07 PM
The CEO of one of the leading private banks in the country, ICICI Bank, Ms. Chanda Kochar, announced that following the reduction in the last quarter profit, the higher officials will not be given any performance bonus.
However, the bonus will be paid for all the employees in positions lower than Assistant General Manager.
For the financial year 2014-15, the CEO received a performance-based bonus of Rs. 1.6 Crores.
Another Executive Director S. Kannan was given a performance bonus of Rs. 1.1 Crores.
ICICI has come up with an unprecedented low performance in the last years. The net profit had down mainly due to the unsettled debts.
The capital status of ICICI bank was sound enough during the last financial year. The capital self-sufficiency rate was 13.09 percent.
6238 new recruits were made during the last quarter.
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