ICICI Bank received on Saturday the approval of the board of directors for a fundraising of up to ₹25,000 crores in the current financial year FY23 through the issuance of debt securities.
The issue will be by private placement. ICICI Bank Board Approves Fundraising
At a board meeting held today, the directors of ICICI Bank approved “the raising of funds through the issuance of debt securities, including through non-convertible debentures on national markets up to an aggregate limit of ₹25,000 crore through the private placement.”
In addition, the Board approved the issuance of offshore bonds/notes/certificates of deposit in overseas markets up to $1.50 billion in single/multiple tranches for a period of one year, commencing on date of adoption of a resolution by the council.
The bank also announced its financial performance for the quarter and year ended March 31, 2022.
ICICI Bank achieved an autonomous net profit of ₹7,019 crores in Q4FY22 up 59% YoY. Net interest income (NII) amounts to ₹12,605 crore in Q4FY22 up 21% from ₹10,431 in the same quarter a year ago.