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'ICICI Bank has lost $264 mn due to subprime exposure'

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    • ENS Economic Bureau Tags : Posted: Wednesday, Mar 05, 2008 at 0037 hrs

    CREDIT crunch

    • ICICI Bank’s aggregate credit derivatives exposure is $ 2.2 bn As of January 31, 2008, the mark-to-market negative on this portfolio due to movement of credit spreads was about $ 155 mn

    • Of this, $ 88 million had been provided for in financial statements of the bank and its subsidiaries for the 9 months till December 2007

    •In case of fixed income investment portfolios, as of January 31, 2008, negative was about $108 million, of which $101 million had been accounted for in the financial statement up to Dec 31, 2007

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