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ICICI Bank gets repatriation of equity capital from foreign units

ICICI Bank said today that it has repatriated excess funds from its  two overseas subsidiaries.

“The bank has, in March 2015, received further equity capital repatriation of CAD 80 million from ICICI Bank Canada and USD 75 million from ICICI Bank UK,” it said in a BSE filing.

To optimise the capital for the ICICI Group and to improve its return on equity the bank has commenced the efforts for repatriating capital from its overseas banking subsidiaries, it said.

“ICICI Bank Ltd 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,” the bank said.

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