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ICICI repatriates capital from subsidiary ventures

ICICI Bank is repatriating capital from its overseas banking subsidiaries in order to optimize capital for the group and improve its return on equity. The bank had received approvals for and repatriated $100 million of capital from its wholly owned subsidiary in the UK, ICICI Bank UK, in March 2013 and CAD75 million from its wholly owned subsidiary in Canada, ICICI Bank Canada in May 2013. In March 2015, the bank received further equity capital repatriation of CAD80 million from ICICI Bank Canada and $75 million from ICICI Bank UK. ICICI Bank Canada and ICICI Bank UK had capital adequacy ratios of 33.2% and 21.8% respectively at 31 December 2014. Post the repatriation, the share capital of ICICI Bank Canada is CAD777 million and of ICICI Bank UK $420 million, and their capital adequacy ratios continue to be strong.

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