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Informist, Wednesday, Sept. 2, 2026

--ICICI Bk: Bought 2% more stake in ICICI Pru Life for INR 14.70 bln 

NEW DELHI – ICICI Bank Ltd. has bought another 2% stake in ICICI Prudential Life Insurance Co. Ltd. for INR 14.70 billion, the lender informed exchanges Wednesday. The acquisition was done through multiple tranches between Jul. 22 and Wednesday, the lender said. 

With this, ICICI Bank's total stake in ICICI Prudential Life Insurance stands around 52.8%, the lender said, comfortably crossing the majority shareholding threshold of 50%. 

The bank's Board had approved the proposal to acquire up to a 2% stake in the life insurance arm on Feb. 28. with the intent to help the bank maintain a majority shareholding in its subsidiary. The Reserve Bank of India had on Jun. 24 given a green signal to the large private sector bank to acquire up to 2% additional stake in ICICI Prudential Life Insurance.

Over the last year, ICICI Bank has raised its shareholding in many 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 1,426.50 on the National Stock Exchange, down 0.8%. ICICI Prudential Life Insurance's shares, on the other hand, closed at INR 499.50, up 0.8%. 

For the June quarter, ICICI Bank had reported a net profit of INR 148.05 billion on total income of INR 542.47 billion. During the same period, the bank's life insurance arm reported net profit of INR 3.86 billion, with its net premium income for the quarter rising 15% on year to INR 97.49 billion.   End

Reported by Priyasmita Dutta

Edited by Deepshikha Bhardwaj

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