ICICI Bank update on SEC investigation into loan impairment provisions under US GAAP

ICICI Bank has via its legal counsel received a communication from the United States Securities and Exchange Commission (SEC) that they have concluded their investigation into the Bank's loan impairment provisions under US GAAP and that the SEC does not intend to take any enforcement action against the Bank. For details please refer to our earlier disclosure dated 27 July 2018, regarding requests for information from the SEC investigatory staff linked to the timing and amount of the Bank's loan impairment provisions taken under US GAAP for fiscal years prior to 2017, in respect of which the Bank extended complete co-operation to the SEC.

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