ICICI Bank authorised to raise up to USD 5 billion through overseas borrowings

ICICI Bank's board approved a $5 billion limit for overseas borrowing via bonds, notes, and offshore CDs. The bank has already raised $1.7 billion under RBI's swap facility. This move is part of a trend of Indian banks accessing global markets for funding.

ICICI Bank's board approved up to $5 billion in overseas borrowing. Shares rose 0.4% to Rs 1,417.50. HDFC Bank recently raised $1.75 billion via bonds, with tranches at 5.159% and 5.401% coupons. Other Indian banks have also tapped overseas debt markets.

ICICI Bank's board approved a $5 billion overseas borrowing limit for debt instruments. The Reserve Bank of India's swap facility caps hedging costs at 1.5%. ICICI has raised $1.7 billion, while HDFC Bank issued $1.75 billion in dollar-denominated bonds. ICICI shares rose 0.42% on the news.

ICICI Bank's board approved a USD 5 billion offshore borrowing limit, doubling its previous USD 2.5 billion cap. The bank has already raised USD 2.05 billion in debt this month, with Q1 FY27 net profit up 15.95% YoY. The move aims to secure low-cost capital ahead of RBI's swap window closure.

ICICI Bank's Q1FY27 profit after tax rose 15.9% YoY to ₹148.05 billion. Advances grew 19.6% YoY to ₹16,312.60 billion. The board approved a ₹12 per share dividend for FY26. The bank's CET-1 ratio was 16.19% at Q1FY27. Deposit growth was 14.0% YoY, while advances grew 19.6% YoY, indicating aggressive credit expansion.

ICICI Bank, an Indian financial institution, has increased its overseas borrowing limit from $2.5 billion to $5 billion. This move may enhance its ability to fund international operations and investments. According to the bank, the decision reflects its strategy to strengthen its global presence and capital base.