-12.90 (-1.01%) ICICI Bank has received aggregate capital repatriation of $100 million from ICICI Bank UK PLC (ICICI Bank UK), its wholly owned banking subsidiary in the United Kingdom. This comprises redemption of $50 million of preference share capital and return of $50 million of equity capital, after receiving requisite approvals.
ICICI Bank UK PLC had a capital adequacy ratio of 31.5% at December 31, 2012. Post the repatriation, the capital base of ICICI Bank UK is $495 million and its capital adequacy ratio continues to be strong.
ICICI Bank 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 optimize capital deployment and return on equity.