ICICI Bank has secured Reserve Bank of India’s (RBI) approval to acquire additional shareholding of up to 2% in ICICI Prudential Life Insurance Company (ICICI Life). The acquisition is primarily aimed at maintaining the bank’s majority shareholding in the event of exercise of stock-based compensation of ICICI Life.
Earlier, the board of directors of the bank, in its meeting held on February 28, 2026, had approved the acquisition.
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.
