Aysiaysiay Eurasia Bank (ICICI Bank)

Performance Indicators

According to the international reporting, the net profit of ICICI Bank Eurasia Limited Liability Company (IBEL) according to the results of 2014 financial year was 140 million rupees (121 million rubles at the rate of the Central Bank of the Russian Federation) that is 58% lower than similar result of 2013. The result was negatively affected by devaluation of Russian ruble and need to considerably dosozdavat reserves, it was noted in the reporting. Authorized capital is 1.59 billion rubles.

History

In Russia the bank works since 1998.

2005: Indians acquire "Investment credit bank". Renaming into Aysiaysiay Bank Evraziya

The Indian ICICI Bank Limited acquired 100% of shares of "Investment credit bank" and, having carried out its rebranding, in 2005 brought to the Russian market "Aysiaysiay Eurasia Bank". The bank offers a broad spectrum of the corporate and investment banking products expected the international and Russian companies and financial institutions and also services to private clients.

2014: Sale of bank to Sovcombank

On December 8, 2014 it became known that the Indian ICICI Bank sells Russian "subsidiary" ICICI Bank Eurasia Limited Liability Company (IBEL) to Sovcombank, said in the statement of the Indian bank according to the results of a meeting of Board of Directors on December 5.

"The Board of Directors of bank at today's meeting approved the offer to sell a share in IBEL to Sovcombank which is the Russian bank, not affiliated with ICICI Bank", - it was said in the statement.

The transaction is going to be closed within 2015 financial year.

According to the results of 2014 financial year which ended on September 30, 2014 ICICI Bank reflected Russian "subsidiary" in the reporting as an asset for sale.