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