ICICI Bank gets approval for closing down operations in Sri Lanka

The Monetary Board of the Central Bank of Sri Lanka, having considered the request made by ICICI Bank Limited ("the Bank") has granted approval to close down business operations of the Bank in Sri Lanka and cancel the licence issued to it in terms of the provisions of the Banking Act, No. 30 of 1988, subject to certain terms and conditions.

The Director of Bank Supervision being satisfied with the Bank complying with the terms and conditions imposed by the Monetary Board, the licence issued to the Bank to carry on banking business in Sri Lanka is cancelled with effect from October 23, 2020.

Shares of ICICI BANK LTD. was last trading in BSE at Rs.416.85 as compared to the previous close of Rs. 412.95. The total number of shares traded during the day was 754528 in over 10306 trades.

The stock hit an intraday high of Rs. 420.55 and intraday low of 411.6. The net turnover during the day was Rs. 314160751.

Source : Equity Bulls

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