ICICI Bank Limited Files Annual Report on Form 20-F for Fiscal Year 2024

Rhea-AI Summary

ICICI Bank (NYSE: IBN) has filed its annual report on Form 20-F for the fiscal year ended March 31, 2024 (FY2024) with the U.S. Securities and Exchange Commission (SEC) on July 31, 2024. The report includes:

• Consolidated financial statements under Indian GAAP
• Reconciliation of profit and net worth under Indian GAAP to U.S. GAAP
• Approval from the Audit Committee of the Board

The Form 20-F is available on the SEC website and ICICI Bank's investor relations page. Shareholders can request a free copy of the complete audited financial statements by contacting the Company Secretary.

Positive

• Timely filing of annual report Form 20-F with the SEC
• Provision of both Indian GAAP and U.S. GAAP financial information
• Transparency in making the report easily accessible to investors

Negative

• None.

Insights

Financial Analyst

ICICI Bank's filing of its annual report on Form 20-F for FY2024 is a routine regulatory requirement for foreign private issuers listed on U.S. exchanges. While this doesn't provide new financial information, it offers a comprehensive view of the bank's performance and financial position.

Key points to note:

• The report includes consolidated financial statements under Indian GAAP and a reconciliation to U.S. GAAP, which is important for international investors to compare ICICI Bank's performance with global peers.
• The availability of this report on the SEC website enhances transparency and accessibility for investors, particularly those in the U.S. market.
• The bank's proactive approach in offering shareholders free copies of the complete audited financial statements demonstrates good corporate governance practices.

For investors, this filing doesn't typically move the stock price significantly but provides valuable insights into the bank's operations, risk factors and strategic direction. It's an essential document for conducting thorough due diligence on ICICI Bank.

MUMBAI, India--(BUSINESS WIRE)-- ICICI Bank Limited (NYSE: IBN) filed its annual report in Form 20-F for the year ended March 31, 2024 (FY2024) on July 31, 2024, as required by United States securities regulations. The Form 20-F annual report includes the Bank’s consolidated financial statements under Indian GAAP and a reconciliation of consolidated profit after tax and net worth under Indian GAAP to net income and stockholders’ equity under U.S. GAAP, approved by the Audit Committee of the Board.

Copies of the Form 20-F are available from the United States Securities and Exchange Commission (SEC) website www.sec.gov or via a direct link to the SEC website at "About Us/Investor Relations/SEC Filings" page of ICICI Bank's website:

https://www.sec.gov/Archives/edgar/data/1103838/000095010324011297/dp213313_20f.htm

Shareholders may obtain a copy of the complete audited financial statements free of charge by writing to Company Secretary, ICICI Bank Limited, ICICI Bank Towers, Bandra Kurla Complex, Mumbai 400051 or sending an e-mail to companysecretary@icicibank.com, with details of their shareholding and mailing address.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240731524625/en/

For further press queries please call Sujit Ganguli / Kausik Datta at 91-22-4008 8525 / 91-22-4008 7026 or e-mail at corporate.communications@icicibank.com.

For investor queries please call Abhinek Bhargava / Nitesh Kalantri at 91-22-4008 6173 / 91-22-4008 7107 or email at ir@icicibank.com.

Source: ICICI Bank Limited

FAQ

When did ICICI Bank (IBN) file its Form 20-F for fiscal year 2024?

ICICI Bank (IBN) filed its Form 20-F for fiscal year 2024 on July 31, 2024.

What financial information does ICICI Bank's (IBN) Form 20-F include?

ICICI Bank's Form 20-F includes consolidated financial statements under Indian GAAP and a reconciliation to U.S. GAAP for profit after tax and net worth.

How can shareholders obtain a copy of ICICI Bank's (IBN) audited financial statements?

Shareholders can obtain a free copy of ICICI Bank's audited financial statements by writing to the Company Secretary or emailing companysecretary@icicibank.com with their shareholding details and mailing address.

Where can investors find ICICI Bank's (IBN) Form 20-F for FY2024?

Investors can find ICICI Bank's Form 20-F for FY2024 on the SEC website or through a direct link on ICICI Bank's investor relations page.