ICICI Bank disclosed the mobilisation of approximately USD 17.88 billion in Foreign Currency Non-Resident (Banks) deposits under the Reserve Bank of India’s swap facility as of August 31, 2026.

The bank also issued USD 3.55 billion in USD-denominated bonds during July and August 2026. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Deposit and Lending Details

The gross mobilisation of FCNR(B) deposits totals USD 17.88 billion, which translates to approximately ₹1,702 billion at the exchange rate prevailing on August 31, 2026. Loans provided by the bank’s international branches and subsidiaries against these deposits amount to ~USD 9.00 billion (₹856 billion).

Additionally, standby letters of credit issued by ICICI Bank to other banks regarding loans against these deposits stand at USD 3.63 billion (₹346 billion).

What the Numbers Show

The data reveals a significant utilization of the RBI swap facility, with loans against FCNR(B) deposits representing roughly half of the total gross mobilisation. This indicates a structured approach to funding international operations while managing currency exposure through regulatory mechanisms.

The information provided is provisional and unaudited. The disclosure was signed by Prachiti Lalingkar, Company Secretary, on September 2, 2026.

ICICI Bank completed the issuance of USD 1 billion in senior unsecured fixed rate notes on August 27, 2026. The bank priced the notes on August 24 under its Global Medium Term Note Programme.

The transaction was executed through the bank’s IFSC Banking Unit. The notes carry a coupon of 5.410% and mature in five years. Moody’s Ratings assigned a ‘Baa3’ rating, while S&P Global Ratings assigned a ‘BBB’ rating to the issuance.

Issuance Details

The bank will use the net proceeds for general corporate purposes, in accordance with relevant regulatory guidelines. The notes are proposed to be listed on the Global Securities Market of the India International Exchange IFSC Limited, the Debt Securities Market of the NSE IFSC Limited, and SGX-ST.

Interest payments will be made semi-annually, starting from the allotment date until maturity. The instrument is unsecured and carries no special rights or privileges.

What the Numbers Show

The completion of the issuance confirms the bank’s ability to raise long-term foreign currency debt at a 5.410% coupon. With a five-year tenure, the issuance extends the bank’s liability profile, providing stable funding for general corporate purposes without creating immediate repayment pressure.