ICICI bank shut its operations in Sri Lanka

by Psu Connect
Date: 26-10-20

The ICICI mentions its regulatory filling that, The Monetary Board of the Central Bank of Sri Lanka, having considered the request made by ICICIBank, has granted approval to close down the business operation of the bank in Sri Lanka and cancel the license issued to it.

ICICI bank shut its operations in Sri Lanka

ICICI Bank (PSU connect)

Sri Lanka: ICICI Bank, an Indian multinational banking and financial services company on Saturday shuts its operations in sri lanka after getting approval from sri lanka monetary authority.

The ICICI mentions its regulatory filling that, The Monetary Board of the Central Bank of Sri Lanka, having considered the request made by ICICIBank, has granted approval to close down the business operation of the bank in Sri Lanka and cancel the license issued to it.

ICICI Bank is one of the Big Four banks of India. The bank has subsidiaries in the United Kingdom and Canada; branches in United States, Singapore, Bahrain, Hong Kong, Qatar, Oman, Dubai International Finance Centre, China and South Africa as well as representative offices in United Arab Emirates, Bangladesh, Malaysia and Indonesia. The company's UK subsidiary has also established branches in Belgium and Germany.

"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 October 23, 2020," the private sector lender said.

ICICI bank shut its operations in Sri Lanka

The ICICI mentions its regulatory filling that, The Monetary Board of the Central Bank of Sri Lanka, having considered the request made by ICICIBank, has granted approval to close down the business operation of the bank in Sri Lanka and cancel the license issued to it.

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