Icici Bank Board Approves ₹25,000 Cr Fund Raising Via Debt Securities

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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.

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