RBI OKs ICICI Pru AMC, ICICI Bk group companies buying up to 9.95% in multiple banks
This story was originally published at 20:39 IST on 11 February 2026
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--RBI OKs ICICI Pru AMC, ICICI Bk group cos to buy 9.95% in IDFC First Bank
--RBI OKs ICICI Pru AMC, ICICI Bk group cos to buy 9.95% in Karur Vysya Bank
--RBI OKs ICICI Pru AMC, ICICI Bk group cos to buy up to 9.95% in RBL Bank
--RBI OKs ICICI Pru AMC, ICICI Bk group cos to buy up to 9.95% in Bandhan Bk
MUMBAI – The Reserve Bank of India Wednesday allowed ICICI Prudential Asset Management Co. Ltd. and group entities of ICICI Bank Ltd. to buy up to 9.95% stake in multiple banks. These banks are IDFC FIRST Bank, Karur Vysya Bank, RBL Bank, Federal Bank, Bandhan Bank, and Equitas Small Finance Bank.
The RBI also said that if ICICI Prudential Asset Management Co. and group entities of ICICI Bank fail to acquire the shareholding permitted within one year from the date of approval, the approval will stand cancelled, the banks said in exchange filings. "Further, the applicant shall ensure that the 'aggregate holding' in the bank does not exceed 9.95% of the paid-up share capital or voting rights of the bank at all times," the banks said.
ICICI Prudential Asset Management Co.'s net profit for the December quarter jumped over 45% on year to INR 9.17 billion. Equitas Small Finance Bank's net profit for the quarter rose nearly 36% on year to INR 900.28 million and Federal Bank's net profit rose nearly 9%, both on year and on quarter, to INR 10.41 billion.
IDFC FIRST Bank's net profit for the December quarter was 48% higher on year at INR 5.03 billion. Karur Vysya's bottom line rose over 39% on year to INR 6.9 billion. RBL Bank's net profit for the December quarter jumped more than six times on year to INR 2.14 billion. Wednesday, ICICI Prudential AMC's shares ended 0.4% lower at INR 3,045.20 on the National Stock Exchange. End
Reported by Pratiksha
Edited by Rajeev Pai
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