ICICI Bank revises NRI deposit rates

ICICI Bank Ltd announced today that it has revised the interest rates on its NRE Fixed Deposits and FCNR(B) Deposits with effect from September 17, 2008. The one year NRE deposit rate has been increased by 50 bps to 3.71% p.a. For FCNR (B) deposits denominated in USD, the interest rate for one year has been increased by 50bpsto2.96% p.a. whereas for FCNR(B)deposit denominated in GBP, the rate has been increased to 5.77% p.a.

About ICICI Bank:
ICICI Bank Ltd (N YSE:IBN ) is India's largest private sector bank and the second largest bank in the country with consolidated total assets of about $113 bi ion as of June 30, 2008. ICICI Bank’s subsidiaries include India’s leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms. ICICI Bank’s presence currently spans 19 countries, including India.