ICICI Bank has no liquidity problem as it has Rs 90,000 crore in government securities, besides the global subsidiaries have $2.5 billion in cash, country's leading private sector lender's Chief Executive K V Kamath said.
"We have Rs 90,000 crore investment in government securities.... As of Friday (October 10) we did not borrow from the call market... Our global subsidiaries are with $2.5 billion of cash," Kamath told NDTV.
Asked whether ICICI Bank is being targeted, Kamath said "you spread a rumour the stock reacts... Someone is trying to build a vicious circle...There is an organised attempt to spread rumour."
Explaining about the safety of depositor's money, he said, "I assure you they are safe.... We have a cash adequacy ratio of 150 per cent of the normal requirement... The bank is liquid."
Clarifying further, he said, "We have a very small exposure in the US. None at all in sub-prime. We are well capitalised... And cushion to take shock is there in the balance sheet."
Private sector lender ICICI Bank, whose shares tumbled by 20 per cent on Friday, today said that it has evidence of organised attempts having been made to destabilise it.
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"We (ICICI Bank) have evidence of organised attempts to destabilise the bank," ICICI Bank's Managing Director and CEO K V Kamath said here.
The bank, India's largest in the private space, is also over-capitalised and is one of the strongest financial institutions in the world, he said.
The bank was in good financial health and it "has not seen any drastic decline in deposits in the past few weeks," the ICICI Bank chief said.
According to Kamath, there has been no deterioration in credit quality as well.