ICICI Bank Limited (NYSE: IBN) has received aggregate capital repatriation of USD 100 million from ICICI Bank UK PLC (ICICI Bank UK), its wholly owned banking subsidiary in the United Kingdom. This comprises redemption of USD 50 million of preference share capital and return of USD 50 million of equity capital, after receiving requisite approvals.
ICICI Bank UK PLC had a capital adequacy ratio of 31.5% at December 31, 2012. Post the repatriation, the capital base of ICICI Bank UK is US$ 495 million and its capital adequacy ratio continues to be strong.
ICICI Bank Limited already has a strong capital adequacy ratio, and the above return of capital would further improve the same and enhance ICICI Bank's ability to optimise capital deployment and return on equity.
Except for the historical information contained herein, statements in this release which contain words or phrases such as 'will', ‘expected to’, etc., and similar expressions or variations of such expressions may constitute 'forward-looking statements'. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results, opportunities and growth potential to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, the actual growth in demand for banking and other financial products and services in the countries that we operate or where a material number of our customers reside, our ability to successfully implement our strategy, including our use of the Internet and other technology, our rural expansion, our exploration of merger and acquisition opportunities, our ability to integrate recent or future mergers or acquisitions into our operations and manage the risks associated with such acquisitions to achieve our strategic and financial objectives, our ability to manage the increased complexity of the risks we face following our rapid international growth, future levels of impaired loans, our growth and expansion in domestic and overseas markets, the adequacy of our allowance for credit and investment losses, technological changes, investment income, our ability to market new products, cash flow projections, the outcome of any legal, tax or regulatory proceedings in India and in other jurisdictions we are or become a party to, the future impact of new accounting standards, our ability to implement our dividend policy, the impact of changes in banking regulations and other regulatory changes in India and other jurisdictions on us, the bond and loan market conditions and availability of liquidity amongst the investor community in these markets, the nature or level of credit spreads, interest spreads from time to time, including the possibility of increasing credit spreads or interest rates, our ability to roll over our short-term funding sources and our exposure to credit, market and liquidity risks as well as other risks that are detailed in the reports filed by us with the United States Securities and Exchange Commission. ICICI Bank undertakes no obligation to update forward- looking statements to reflect events or circumstances after the date thereof.
This release does not constitute an offer of securities.
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ICICI Bank Limited
ICICI Bank Towers
Bandra Kurla Complex
Mumbai 400 051
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News Release
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March 5, 2013 |
For further press queries please call Sujit Ganguli at 91-22-2653 8525 or email ganguli.sujit@icicibank.com.
For investor queries please call Rakesh Mookim at 91-22-2653 6114 or email ir@icicibank.com.
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