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Article: High acquisition cost makes ICICI look for internal growth.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- June 3, 2008
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High acquisition cost makes ICICI look for internal growth
Mumbai, June 3 (PTI) -- With valuation of banks going up and a very few private ones available for takeover, ICICI Bank is looking at growing internally rather than go for consolidation.
"The public sector is not open for consolidation with private sector and in the private sector, there are very few options," ICICI Bank Joint Managing Director Chanda Kochhar told PTI.
"Emphasis is on organic growth because of valuations...In the domestic market, the way valuations moved, have made consolidation options very expensive," she said.
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