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Allegations against ICICI Bank pose reputational risk, says Fitch

Updated : April 10, 2018 09:45 AM IST

The allegation relates to a $500 million loan to Videocon Group, whose controlling shareholder co-founded a separate company with the spouse of ICICI's CEO Chanda Kochhar.
The bank has stressed that it has not given any credit to the borrower group outside of the consortium.
Fitch believes corporate governance at private banks, like ICICI, is generally stronger than at state-owned banks due to better-qualified board members and more professional management.
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