ICICI Bank has executed the share purchase agreement (SPA) with ICICI Prudential Life Insurance Company (ICICI Life) and ICICI Prudential Pension Funds Management Company (ICICI PFM) for acquisition of 100% shareholding in ICICI PFM. Subsequently, all the formalities have been completed. The Bank now holds 100% shareholding in ICICI PFM and ICICI PFM has become a wholly owned subsidiary of the Bank.
ICICI Bank is a large private sector bank in India offering a diversified portfolio of financial products and services to retail, SME and corporate customers.
