ICICI Bank to consider raising funds via debt securities
Summary
The board will take up the matter on April 27. Shares of ICICI Bank Ltd ended at ₹1,066.40, up by ₹10.95, or 1.04%, on the BSE.
Private sector lender ICICI Bank on Friday (April 19) is looking at raising funds via debt securities. The board will take up the matter on April 27.
“We wish to inform you that the Board of the Bank at its meeting scheduled on April 27, 2024, will consider, the following fundraising by way of issuance of debt securities including by way of non-convertible debentures in domestic markets by way of the private placement and issuance of bonds/notes/offshore certificate of deposits in overseas markets; and buyback of debt securities within the limits that the Board is authorised to approve under applicable law,” the lender said in a regulatory filing.
ICICI Bank reported a 23.5% increase in standalone profit and a 13% rise in net interest income for the third quarter that ended on December 2023. The Mumbai-based bank’s standalone profit surged to ₹10,271.54 crore for the third quarter, marking an increase from the ₹8,311.85 crore reported in the same period the previous year.
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The bank’s net interest income (NII) experienced a year-on-year growth of 13.4%, reaching ₹18,678 crore for the quarter under review from ₹16,465 crore in the same period a year ago.
The net interest margin (NIM) stood at 4.43% in the third quarter, compared to 4.53% in the previous September quarter and 4.65% in the corresponding quarter of last year. The net interest margin was 4.57% in the first nine months of last year.
Shares of ICICI Bank Ltd ended at ₹1,066.40, up by ₹10.95, or 1.04%, on the BSE.
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