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ICICI Bank denies stake buy in Karnataka Bank

ICICI Bank denies stake buy in Karnataka Bank

Wednesday, April 12, 2017, 10:55 AM

Shares of Karnataka Bank dropped nearly 5% in Wednesday’s trade after ICICI Bank denied media reports suggesting that it had bought over 1% stake in the smaller bank. While March quarter shareholding pattern showed ICICI Bank as a shareholder with 1.09% stake in the midcap lender, the bank said it was not its personal stake, but that of its clients.
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