ICICI Bank, the country’s private sector lender, has exited its investment by selling six percent stake in Cibil to global credit information company TransUnion. The bank had earlier guided its intentions to sell stakes in non-core assets in the aftermath of RBI’s asset quality review, which led to erosion of profits.
After this transaction, the remaining shareholders in Cibil are Indian Overseas Bank (5%), Union Bank of India (5%), Bank of India (5%), Aditya Birla Trustee Company (4%), India Alternatives Private Equity (2.9%) and India Infoline Finance (1%).
ICICI Bank is India's largest private sector bank with consolidated total assets of $ 132.17 billion at March 31, 2015. The Bank's subsidiaries include India's leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms.
