ICICI Bank Board Approves Up to 2% Additional Stake in ICICI Prudential Life Insurance

Mumbai, February 28, 2026 – ICICI Bank Limited has announced that its Board of Directors approved the purchase of up to 2% additional shareholding in its subsidiary, ICICI Prudential Life Insurance Company Limited (ICICI Life). The decision was made at the Board meeting held from February 26–28, 2026, which concluded today at 11:06 AM.

Key Details of the Board Meeting

• Meeting Duration: February 26, 2026, 5:30 PM – February 28, 2026, 11:06 AM

• Agenda: Approval to acquire additional shares in ICICI Life to maintain majority ownership in case of exercise of stock-based compensation.

• Conditionality: The purchase is subject to receipt of requisite regulatory approvals.

Strategic Implications

This move ensures that ICICI Bank retains majority control over ICICI Life, safeguarding its influence over strategic decisions while supporting employee stock-based compensation plans. Analysts see this as a proactive step to protect shareholder interests and strengthen governance in the growing insurance subsidiary.

ICICI Prudential Life Insurance

ICICI Life is one of India’s leading life insurance providers, offering a wide range of protection, savings, and investment products. Maintaining a majority stake enables ICICI Bank to continue driving the subsidiary’s growth while leveraging synergies in bancassurance and financial services.

Stock Exchange Disclosure

The decision has been communicated to:

• BSE Limited, Phiroze Jeejeebhoy Towers, Mumbai

• National Stock Exchange of India Limited, Bandra-Kurla Complex, Mumbai

• International exchanges including NYSE, Japan Securities Dealers Association, Singapore Stock Exchange, and SIX Swiss Exchange