ICICI to repatriate Excess Funds From 2 Overseas Subsidiaries | SupportBiz

Market Tracker

ICICI to repatriate Excess Funds From 2 Overseas Subsidiaries

 
Tags: ICICI, RBI
Post repatriation, share capital of ICICI Bank Canada is CAD 777 mn and that of ICICI Bank UK is USD 420 mn

As part of capital optimisation, the ICICI Bank 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, according to a PTI report.

Under Pillar 1 of the RBI guidelines on Basel III, the Bank follows the standardised approach for credit and market risk and basic indicator approach for operational risk.

RBI issued Basel III guidelines, applicable with effect from April 1, 2013. The guidelines provide a transition schedule for Basel III implementation till March 31, 2019.

Upon full implementation, Basel III guidelines target minimum capital to risk-weighted assets ratio (CRAR) would be11.5%, minimum Common Equity Tier-1 (CET1) CRAR ratio would be 8.0% and minimum Tier-1 CRAR ratio would be 9.5%.

The Bank is subject to the capital adequacy norms stipulated by the RBI guidelines on Basel III. RBI guidelines on Basel III require the Bank to maintain a minimum ratio of total capital to risk weighted assets of 9.00%, with a minimum Tier 1 capital adequacy ratio of 6.50%.

Post repatriation, share capital of ICICI Bank Canada is CAD 777 million and that of ICICI Bank UK is USD 420 million, said the PTI report.