ICICI Bank gets RBI nod to buy up to 2% more stake in arm ICICI Pru Life
This story was originally published at 21:32 IST on 24 June 2026
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--RBI OKs ICICI Bank's purchase of up to 2% more stake in arm ICICI Pru Life
NEW DELHI – The Reserve Bank of India Wednesday gave its approval to ICICI Bank to acquire up to 2?ditional stake in ICICI Prudential Life Insurance Co. Ltd., the lender said in an exchange filing. This will help the bank maintain a majority shareholding in its subsidiary, ICICI Bank said.
The bank's Board had approved the proposal to acquire up to 2% stake in the life insurance arm on Feb. 28. Currently, ICICI Bank holds a 50.89% share in ICICI Prudential. With the 2?quisition, its share will increase to 52.89%, comfortably crossing the majority shareholding threshold of 50%.
Over the last year, ICICI Bank has raised its shareholding in many of its arms to improve its presence across sectors, including asset management and pension funds, among others. Wednesday, shares of ICICI Bank, India's second-largest private sector lender, closed at INR 1,373.60 on the National Stock Exchange, up 2.6%. ICICI Prudential Life Insurance's shares, on other hand, closed at INR 496.35, down 0.5%.
For 2025-26 (Apr-Mar), the bank had reported net profit of INR 501.47 billion, up over 6%. Its total income for the year was INR 2.01 trillion, up 5%. During the same period, the bank's life insurance arm reported net profit of INR 16 billion, up 35% on year. Its net premium income for the year had risen 9% on year to INR 513.36 billion. End
Reported by Priyasmita Dutta
Edited by Akul Nishant Akhoury
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