ICICI Bank's request for cancellation of South Africa license approved

The Prudential Authority (PA) of South Africa has noted ICICI Bank Limited South Africa Branch's (ICICISA) request for the cancellation of its authorisation to conduct the business of a bank by means of a branch in the Republic of South Africa (the Republic). The PA has accordingly regarded ICICISA's authorisation to conduct the business of a bank by means of a branch in the Republic as being cancelled with effect from December 15, 2022. The cancellation has been granted by the PA with the concurrence of the Financial Sector Conduct Authority as required by section 126 of the Financial Sector Regulation Act 9 of 2017.

Shares of ICICI Bank Limited was last trading in BSE at Rs. 902.25 as compared to the previous close of Rs. 908.60. The total number of shares traded during the day was 132184 in over 5250 trades.

The stock hit an intraday high of Rs. 913.55 and intraday low of 899.45. The net turnover during the day was Rs. 119686540.00.

Source : Equity Bulls

Keywords

ICICIBank INE090A01021 IBN SouthAfrica