ICICI Bank on top 100 global brands list

New York: Software giant Apple has emerged as the world's most valuable brand surpassing search engine major Google, while ICICI Bank is the lone Indian company to feature in the list of top 100 global brands.

With a brand value of USD 14.9 billion, India's largest private sector lender ICICI Bank is ranked at the 53rd position in the league of world's 100 most valuable brands compiled by global brands agency Millward Brown.

This is the second straight appearance for ICICI bank in annual BrandZ study.

Interestingly, the report said that with a rise of 27 per cent in brand value to USD 8.2 billion, India's Infosys was one of the most valuable technology brands in the world and is expected to soon rank among the top 100 most valuable global brands across all sectors.

The iPhone maker's brand is valued at USD 153.3 billion, an 84 per cent increase since last year. Besides, Google's brand is now valued at USD 111.5 billion (rpt) USD 111.5 billion, a 2 per cent fall from 2010.

IBM has bagged the third position with a brand value of USD 100.84 billion followed by McDonalds (USD 81.01 billion) and Microsoft (USD 78.24 billion).

The BrandZ index calculates brand value on several factors, such as an estimate of the brand's contribution to earnings, valuation of intangible assets, measures of customer perception and an estimate of growth potential.

The brand rankings are dominated by technology companies, with six out of the top 10 places cornered by Apple, Google, IBM, Microsoft, AT&T and China Mobile.

Facebook entered the top-100 list for the first time at Number 35 with a brand value of USD 19.1 billion. Besides, Citi's scored the 47th spot with a brand value of USD 15.67 billion.

Other brands in the list include -- Coca-Cola (6th), Vodafone (12th), Toyota (27th), HSBC (28th), Colgate (55th), Pepsi (63rd), Intel (58th) and Samsung (67th).

Source: Financial Express

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Temasek Holdings will not buy TPG Stake in Shriram Transport Finance

MUMBAI: Singapore state investment fund Temasek Holdings has decided to drop its plans to buy private equity major TPG Capital's stake in India's largest commercial vehicle financing company Shriram Transport Finance , two people familiar with the matter told ET.

"Temasek, after evaluating the company (Shriram Transport), has taken a call not to go ahead with the stake buy," said a person with direct knowledge of the deal. Shriram Transport and TPG were not available for comment.

Temasek's decision comes in the wake of the Reserve Bank of India's move to take away priority sector lending status for nonbanking finance companies. The removal of priority lending status is likely to increase cost of funds for NBFCs and dent net interest margin.

Priority lending enabled NBFCs to get fund from banks at a discount to market rates. NBFCs borrowed more than 50% from banks in 2010-11 compared with just 14% in 2009-10 . In the past one year, the central bank has taken various measures to tighten regulations for NBFCs to bring them at par with regular banks.

TPG, which holds 20% stake valued at Rs 3,000 crore in Shriram Transport, was in talks with Temasek to offload part of its holding . The PE major is also in talks with other sovereign wealth funds, including Government of Singapore Investment Corporation to sell its stake in the NBFC.

TPG wants to exit Shriram Transport and invest in other businesses of Shriram Group . It is planning to invest Rs 450 crore in Shriram Properties. It already owns 49% in Shriram Retail Private Holdings and 28% in Shriram City Union Finance.

Source: EconomicTimes

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Kotak Mahindra raises base rate, BPLR by 50 bps

MUMBAI: Private lender Kotak Mahindra Bank said on Monday it has raised its base rate by 50 basis points to 9.25 percent and benchmark prime lending rate by a similar quantum effective May 10.

All categories of loans, other than exceptions permitted by the Reserve Bank of India (RBI), will henceforth be priced with the reference to the revised base rate, it said in a statement to the stock exchanges.

ICICI Bank , India's second-largest lender, said on Friday it would raise its benchmark base rate by 50 basis points to 9.25 percent per annum with effect from Saturday.

Last week, the RBI raised the repo and reverse repo rate by a larger-than-expected 50 basis points to battle a stubbornly high inflation.

Source: EconomicTimes

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Development Credit Bank ups base rate, BPLR by 0.5 per cent

MUMBAI: Private sector lender Development Credit Bank (DCB) today said it has hiked both its base rate and benchmark prime lending rate (BPLR) by 0.5 per cent.

Its base rate now stands at 9.50 per cent, while the BPLR is at 16.75 per cent, the bank said in a press release issued here.

The new rates came into effect from May 7.

Source: EconomicTimes

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YES Bank hikes interest rates on term deposits

MUMBAI: Private sector lender YES Bank today increased interest rates on term deposits by up to 50 basis points depending on the maturity.

The move, which comes within a week of the Reserve Bank hiking its key short term rates by 50 basis points, is in line with other lenders like Kotak Mahindra Bank and Union Bank of India .

Under the revised rates which are applicable from today, a 7-14 day deposit under Rs 15 lakh will earn an interest of 4 per cent per annum from 3.5 per cent earlier, YES Bank said.

Similarly, 12 months to 15 months 21 days deposit under Rs 15 lakh will earn the depositor a rate of 8.75 per cent per annum, 50 basis points more than the earlier 8.25 per cent.

Rates on the Rs 15 lakh to Rs 1 crore bucket have also been increased by the bank, a release issued here said, adding the deposit rates were hiked last on March 21.

Source: EconomicTimes

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