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Icici Bank Ltd. - Company Update

| Updated on July 27, 2018 Published on July 27, 2018

We refer to the emails dated July 26, 2018 received from both the Exchanges seeking clarification on the Livemint/MINT media report, US SEC steps up probe into ICICI Banks accounting practices

As a large and internationally active bank with operations and listing of its equity and debt instruments in multiple jurisdictions, the Bank is regularly engaged with regulators, including the United States Securities and Exchange Commission (SEC), on a range of matters. The Bank has been responding to requests for information from the SEC investigatory staff regarding an enquiry relating to the timing and amount of the Banks loan impairment provisions taken under U.S. GAAP. The Bank evaluates loans for impairment under U.S. GAAP for the purpose of preparing the annual footnote reconciling the Banks Indian GAAP financial statements to U.S. GAAP. The Bank has voluntarily complied with all requests of the U.S. SEC investigatory staff for information and interviews related to the Banks U.S. GAAP loan impairment process.

There is no matter at this point of time which requires disclosure as per Regulation 30 of the Listing Regulations.

Pdf Link: Icici Bank Ltd. - Company Update

Source : BSE - www.bseindia.com

Published on July 27, 2018
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