ICICI Bank mobilised FCNR deposits worth $17.88 bln under swap facility
This story was originally published at 11:42 IST on 2 September 2026
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--ICICI Bank raises $17.88 bln via FCNR (B) deposits till Aug 31
--ICICI Bk: Intl arms gives $9 bln as loans vs FCNR(B) deposits till Aug 31
NEW DELHI – ICICI Bank Ltd. has mobilised foreign currency non-resident (banks) deposits worth $17.88 billion under the Reserve Bank of India's special swap facility till Monday, which was the deadline, the bank said in an exchange filing Wednesday.
ICICI Bank's international branches and subsidiaries have provided loans worth $9 billion against the FCNR deposits. Further, standby letters of credit issued by the bank to other banks in respect of loans against such deposits amount to $3.63 billion, the large private sector lender said. The bank reiterated that it has issued $3.55 billion of dollar-denominated bonds during Jul-Aug.
In June, the RBI had announced a swap window to boost foreign capital inflows, under which it would bear the hedging costs for banks converting funds raised through mobilisation of three- to five-year FCNR(B) deposits. In August, the RBI had revised the deadline for the FCNR(B) swap facility, saying it would remain available only until Monday, against the earlier deadline of Sept. 30.
For the June quarter, ICICI Bank had reported net profit of INR 148.05 billion on total income of INR 542.47 billion. At 1103 IST, shares of the bank traded at INR 1,429.0 apiece on the National Stock Exchange, down 0.6% from their previous close. End
US$1 = INR 94.95
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Radhika Tiwari
Edited by Akul Nishant Akhoury
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