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ICICI Bank board nods fundraising of ₹25,000 cr via debt securities

ICICI Bank on Saturday received the board of directors’ approval for fundraising to the tune of 25,000 crore in the current financial year FY23 through the issuance of debt securities.

The issuance will be through private placement. ICICI Bank board nods fundraising

In a board meeting held today, ICICI Bank directors approved “fundraising by way of issuances of debt securities including by way of non-convertible debentures in domestic markets up to an overall limit of 25,000 crore by way of the private placement.”

Further, the board approved the issuance of bonds/notes/offshore certificates of deposits in overseas markets up to $1.50 billion in single/multiple tranches for a period of one year, from the date of passing of a resolution by the Board.

The bank also announced its financial performance for the quarter and year ended March 31, 2022.

ICICI Bank garnered a standalone net profit of 7,019 crore in Q4FY22 rising by a whopping 59% year-on-year. Net interest income (NII) stood at 12,605 crore in Q4FY22 up by 21% from 10,431 in the same quarter a year ago.

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