March 28, 2018 / 12:57 PM / a month ago

BRIEF-ICICI Bank Says Has Full Confidence, Reposes Full Faith In MD, CEO Kochhar

March 28 (Reuters) - Icici Bank Ltd:

* REVIEWS BANK’S INTERNAL PROCESS FOR CREDIT APPROVAL

* SAYS NO INDIVIDUAL EMPLOYEE, WHATEVER MAY BE HIS OR HER POSITION, HAS THE ABILITY TO INFLUENCE CREDIT DECISION AT THE BANK

* BANK’S SHARE OF BANKING SECTOR’S EXPOSURE TO VIDEOCON GROUP WAS LESS THAN 10 PERCENT

* WAS NOT LEAD BANK TO CONSORTIUM TO VIDEOCON; BANK ONLY SANCTIONED ITS SHARE OF FACILITIES OF ABOUT 32.50 BILLION RUPEES

* SAYS “THERE IS NO QUESTION OF ANY QUID PRO QUO/NEPOTISM/CONFLICT OF INTEREST AS IS BEING ALLEGED IN VARIOUS RUMOURS”

* NONE OF THE INVESTORS OF NUPOWER RENEWABLES ARE BORROWERS OF BANK

* SAYS "BOARD HAS FULL CONFIDENCE AND REPOSES FULL FAITH IN BANK'S MD&CEO CHANDA KOCHHAR" Source text: bit.ly/2Gi9gtr Further company coverage:

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