FORM
6-K
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Report
of Foreign Issuer
Pursuant
to Rule 13a-16 or 15d-16 of
the
Securities Exchange Act of 1934
For the
month of September 2008
Commission
File Number: 001-15002
ICICI Bank
Limited
(Translation
of registrant’s name into English)
ICICI
Bank Towers,
Bandra-Kurla
Complex
Mumbai,
India 400 051
(Address
of principal executive office)
Indicate
by check mark whether the registrant files or will file
annual
reports under cover Form 20-F or Form 40-F.
|
Form
20-F X
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Form
40-F
|
Indicate
by check mark if the registrant is submitting the Form 6-K
in paper
as permitted by Regulation S-T Rule 101(b)(1):
|
Yes
|
No X
|
Indicate
by check mark if the registrant is submitting the Form 6-K
in paper
as permitted by Regulation S-T Rule 101(b)(7):
|
Yes
|
No X
|
Indicate
by check mark whether by furnishing the information
contained
in this Form, the Registrant is also thereby furnishing the
information
to the Commission pursuant to Rule 12g3-2(b)
under the
Securities Exchange Act of 1934:
|
Yes
|
No X
|
If “Yes”
is marked, indicate below the file number assigned to the registrant
in
connection
with Rule 12g3-2(b): Not
Applicable
Table
of Contents
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Item
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1.
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Press
release dated September 29,
2008
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SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
| For ICICI Bank Limited | ||||||
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Date:
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September 29,
2008
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By:
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/s/
Mehernosh
Kapadia
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|||
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Name:
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Mehernosh
Kapadia
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|||||
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Title:
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General
Manager &
Joint
Company Secretary
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|||||
Item
1
 |
ICICI Bank
Limited
ICICI Bank
Towers
Bandra Kurla
Complex
Mumbai 400
051
|
|
Release
|
September
29, 2008
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ICICI
Bank Limited clarifies that 98% of ICICI Bank UK PLC’s non-India investment book
is rated investment grade and above
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●
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ICICI Bank UK
PLC has zero exposure to US sub-prime credit, whether directly or through
credit derivatives such as
CDO/CLN/CDS.
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|
●
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About 98% of
ICICI Bank UK PLC’s non-India investment book of USD 3.5 billion is rated
investment grade and above (by S&P/Moody’s/Fitch). About 89% is rated
A- and above (by
S&P/Moody’s/Fitch).
|
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●
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Only about 18%
of ICICI Bank UK PLC’s non-India investment book is exposure to the United
States.
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●
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In addition,
ICICI Bank UK PLC holds cash equivalent instruments (inter-bank placements
and certificates of deposit) of USD 1.1 billion. There is no exposure to
US banks in this category.
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●
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ICICI Bank UK
PLC has a total balance sheet size of USD 8.5 billion and has zero NPLs on
the balance portfolio of USD 3.9
billion.
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●
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As on the last
balance sheet date of June 30, 2008, ICICI Bank UK PLC had a capital
adequacy ratio of 17.4%.
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Our
financial performance is subject to a number of risks, uncertainties and other
factors that could cause actual results, opportunities and growth potential to
differ materially from those suggested by the forward-looking statements. These
risks and uncertainties include, but are not limited to, the actual growth in
demand for banking and other financial products and services in the countries
that we operate or where a material number of our customers reside, our ability
to successfully implement our strategy, including our use of the Internet and
other technology, our rural expansion, our exploration of merger and acquisition
opportunities, our ability to integrate recent or future mergers or acquisitions
into our operations and manage the risks associated with such acquisitions to
achieve our strategic and financial objectives, our ability to manage the
increased complexity of the risks we face following our rapid international
growth, future levels of impaired loans, our growth and expansion in domestic
and overseas markets, the adequacy of our allowance for credit and investment
losses, technological changes, investment income, our ability to market new
products, cash flow projections, the oucome of any legal, tax or regulatory
proceedings in India and in other jurisdictions we are or become a party to, the
future impact of new accounting standards, our ability to implement our dividend
policy, the impact of changes in banking regulations and other regulatory
changes in India and other jurisdictions on us, including on the assets and
liabilities of ICICI, a former financial institution not subject to Indian
banking regulations, the bond and loan market conditons and availability of
liquidity amongst the investor community in these markets, credit spreads and
interest spreads prevailing from time to time, including the possibility of
increasing credit spreads or interest rates, our ability to roll over our
short-term funding sources and our exposure to credit, market and liquidity
risks as well as other risks
| |
ICICI Bank
Limited
ICICI Bank
Towers
Bandra Kurla
Complex
Mumbai 400
051
|
that are detailed in
the reports filed by us with the United States Securities and Exchange
Commission. ICICI Bank undertakes no obligation to update forward-looking
statements to reflect events or circumstances after the date
hereof.
For
further press queries please call Charudatta Deshpande at 91-22-2653 8208 or
e-mail: charudatta.deshpande@icicibank.com.
For
investor queries please call Rakesh Jha at 91-22-2653 6157 or Rupesh Kumar at
91-22-2653 7126 or email at ir@icicibank.com.
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