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ICICI Bank closes its banking business in Sri Lanka

Capital Market 

With effect from 23 October 2020

ICICI Bank announced that the Monetary Board of the Central Bank of Sri Lanka, having considered the request made by ICICI 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 23 October 2020.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, October 26 2020. 11:20 IST