FORM
6-K
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Report
of Foreign Issuer
Pursuant
to Rule 13a-16 or 15d-16 of
the
Securities Exchange Act of 1934
For the
month of June 2008
Commission
File Number: 001-15002
ICICI
Bank Limited
(Translation
of registrant’s name into English)
ICICI Bank
Towers,
Bandra-Kurla
Complex
Mumbai,
India 400 051
(Address
of principal executive office)
Indicate
by check mark whether the registrant files or will file
annual
reports under cover Form 20-F or Form 40-F.
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Form 20-F X
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Form 40-F
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Indicate
by check mark if the registrant is submitting the Form 6-K
in paper
as permitted by Regulation S-T Rule 101(b)(1):
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Yes
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No X
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Indicate
by check mark if the registrant is submitting the Form 6-K
in paper
as permitted by Regulation S-T Rule 101(b)(7):
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Yes
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No X
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Indicate
by check mark whether by furnishing the information
contained
in this Form, the Registrant is also thereby furnishing the
information
to the Commission pursuant to Rule 12g3-2(b)
under the
Securities Exchange Act of 1934:
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Yes
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No X
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If “Yes”
is marked, indicate below the file number assigned to the registrant
in
connection with Rule 12g 3-2(b): Not
Applicable
Table
of Contents
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Item
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1.
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News
Release dated June 30, 2008
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SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorised.
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ICICI Bank Limited
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||||||
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Date:
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June 30,
2008
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By:
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/s/ Nilesh Trivedi | |||
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Name
:
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Mr.
Nilesh Trivedi
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|||||
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Title :
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Assistant Company
Secretary
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Item
1
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ICICI
Bank Ltd.
ICICI
Bank Towers
Bandra-Kurla
Complex
Bandra
(E) Mumbai-400051.
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News
Release
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June
30, 2008
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For
Immediate Publication
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ICICI Bank hikes
deposit and lending rates
ICICI
Bank has announced an increase in interest rates on Fixed Deposits of value less
than Rs. 1.50 million by 0.50%-1.00% with effect from July 01,
2008.
ICICI
Bank has also announced an increase of 0.75% in its Floating Reference Rate
(FRR) for consumer loans (including home loans) with effect from June 30, 2008.
The revised FRR will be 13.50% p.a. as against 12.75% p.a. at
present.
For
existing floating rate customers, the increase in Floating Reference Rate (FRR)
by 0.75% will be effective from July 01, 2008. The existing fixed rate customers
whose loans are fully disbursed will, however, not be impacted by the increase
and their contracted rates will remain unchanged.
ICICI
Bank has also announced an increase of 0.75% in its Benchmark Advance Rate
(I-BAR). The revised I-BAR will be 16.50% p.a. payable monthly as against 15.75%
p.a. at present.
Customers
can call the ICICI Bank 24 hour customer care help line or log on to the website
(www.icicibank.com)
for more details.
About
ICICI Bank:
ICICI Bank Limited
(NYSE:IBN) is India's largest private sector bank and the second largest bank in
the country, with consolidated total assets of about USD 121 billion at March
31, 2008. ICICI Bank’s subsidiaries include India’s leading private sector
insurance companies and among the largest securities brokerage firms, mutual
funds and private equity firms. ICICI Bank’s presence currently spans 19
countries including India. For more information visit www.icicibank.com
Except
for the historical information contained herein, statements in this release,
which contain words or phrases such as 'will', 'would', etc., including about
transactions that may be finalized at a later stage, and similar expressions or
variations of such expressions may constitute 'forward-looking statements'.
These forward-looking statements involve a number of risks, uncertainties and
other factors that could cause actual results to differ materially from those
suggested by the forward-looking statements. These risks and uncertainties
include, but are not limited to our ability to obtain statutory and regulatory
approvals and to successfully implement our strategy, future levels of
non-performing loans, transactions that may not fructify, our growth and
expansion in business, the adequacy of our allowance for credit losses,
technological implementation and changes, the actual growth in demand for
banking products and services, investment income, cash flow projections, our
exposure to market risks ICICI Bank undertakes no obligation to update
forward-looking statements to reflect events or circumstances after the date
thereof.
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ICICI
Bank Ltd.
ICICI
Bank Towers
Bandra-Kurla
Complex
Bandra
(E) Mumbai-400051.
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For
Press Queries:
Mr
Charudatta Deshpande
Head
Corporate Communications
ICICI
Bank Limited
BKC,
Mumbai – 400051
T:
+91 22 2653 8208
E-mail: charudatta.deshpande@icicibank.com