ICICI Bank Limited has reported gross mobilisation of Foreign Currency Non-Resident Banks (FCNR(B)) deposits of around $17.88 billion (approximately ₹1,702 billion) through the Reserve Bank of India’s special swap facility. This mobilization window was held open for financial institutions through August 31, 2026. The bank communicated the financial disclosure formally under the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015.

This was how the lender used its worldwide distribution network to bring in significant foreign currency deposits from Non-Resident Indians (NRIs) and employed the regulatory mechanisms of the central bank to facilitate lending and capital management abroad.

Mobilized funds deployment and bond issuance

After receiving foreign currency deposits, ICICI Bank gradually invested substantial resources in overseas financing and in trade finance products. The bank deployed its overseas branches and foreign subsidiaries to disburse loans on these FCNR(B) deposits valued at approximately $9.00 billion (approximately ₹856 billion). 

Other banking institutions received standby letters of credit against these customer loans, valued at about $3.63 billion (approximately ₹346 billion) from ICICI Bank. The balance of the fund was used to strengthen FCL liquidity throughout the private sector lender’s international network of operations.

ICICI Bank also carried out standalone international capital-raising efforts in the same period, apart from the deposit mobilization through the Reserve Bank of India window. The financial institution raised approximately $3.55 billion (approximately ₹338 billion) from global investors through bond issues between July and August 2026. 

The bond offering is consistent with other recent notices made by the bank on several dates concerning its capital management and overseas borrowing strategy. The bond issuances, along with the FCNR inflows, bolstered ICICI Bank’s foreign currency reserves and enhanced its global balance sheet.

Financial details and regulatory submission

ICICI Bank clarified in its official regulatory communication signed by Company Secretary Prachiti Lalingkar on September 2, 2026, that the figures it stated for gross mobilization, international loan disbursement, standby letters of credit and bond issuances are all provisional and unaudited. 

The regulatory announcement was made to several top exchanges around the world that trade the bank’s financial instruments, to ensure transparent compliance throughout international capital markets. 

The exchanges covered in these exchanges include the New York Stock Exchange, the Singapore Stock Exchange, the Japan Securities Dealers Association, the SIX Swiss Exchange Limited, as well as local exchanges in India such as BSE Limited and the National Stock Exchange of India Limited.

Conclusion

ICICI Bank has demonstrated its robust foreign currency collection capabilities and deep global network through the mobilisation of $17.88 billion deposited in FCNR(B) accounts under the Reserve Bank of India swap facility. The private sector lender not only optimized cross-border financial operations but also preserved capital flexibility, turning foreign dirham inflow into $9.00 billion in foreign loans and $3.63 billion in standby letters of credit.

ICICI Bank’s execution reflects its ability to pursue foreign capital sources, with an additional $3.55 billion raised via foreign bond issuances in USD during the first half of 2026, thereby strengthening its international presence.