ICICI Bank confirms exposure to Singapore-based oil trader Hin Leong

The Bank did not elaborate the extent of its exposure and the steps it is taking to protect its interest

India's second largest private lender ICICI Bank on Tuesday confirmed its exposure to the Singapore-based troubled oil trader Hin Leong Trading Pte Ltd (HLT) and said it is taking steps to protect its interest.

"We confirm that the Bank, in the normal course of its business, has exposure to the borrower group in question, is taking due steps to protect its interests, and will appropriately reflect the same in its financial statements, as it would do in respect of all its banking exposures," ICICI said in a stock exchange filing.

The Bank did not elaborate the extent of its exposure