News Release
May 29, 2000
Annual General Meeting of the Members of ICICI Bank Limited (IBN)
The Sixth Annual General Meeting (AGM) of the Members of the ICICI Bank Limited
was held on Monday, May 29, 2000 at Vadodara, India. The Members approved all
the business items as enumerated in the Notice convening the Meeting. The
Members adopted the audited Profit and Loss Account for the financial year
ended March 31, 2000, the Balance Sheet and the Cash Flow Statement as at March
31, 2000 together with Reports of the Board of Directors and the Statutory
Auditors thereon.
A dividend of Rs. 1.50 per equity share (15 per cent) has been declared on
16,50,00,700 equity shares of the Bank for the financial year ended March 31,
2000. Further, the underlying 3,18,18,180 equity shares allotted on March 31,
2000 pursuant to issue of 1,59,09,090 American Depositary Shares are not
entitled for any dividend for the year ended March 31, 2000 in terms of the
issue prospectus.
Shri R. Rajamani and Shri Somesh R. Sathe were re-appointed directors.
M/s. S. B. Billimoria and Company, Chartered Accountants, were re-appointed the
Statutory Auditors for the Bank for the year 2000-20001.
For further queries, contact:
Shri P. H. Ravikumar - (91)-22-653 8413 or 653 8433
Shri G. Venkatakrishnan - (91)-22-653 8516 or 653 8529
Shri Mohan N. Shenoi - (91)-22-653 8418 or 653 8487
For investors' queries, contact:
Shri Bhashyam Seshan
Phone: (91)-22-653 8420 or 653 7560
e-mail: [email protected]
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Except for the historical information contained herein, statements in this
Release which contain words or phrases such as 'will', 'would', 'aim', 'will
likely result', 'believe', 'expected', 'will continue', 'anticipate',
'estimate', 'enable', 'enabling', 'intend', 'plan', 'contemplate', 'seek to',
'future', 'objective', 'goal', 'project', 'should', 'will pursue', 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 or ICICI's Group's ability
to obtain statutory and regulatory approvals and to successfully implement our
strategy, future levels of non-performing loans, our growth and expansion in
business, the adequacy of our allowance for credit losses, technology
implementation and changes, the actual growth in demand for banking products
and services, investment income, cash flow projections, our exposure to market
risks as well as other risks detailed in the report filed by us with the United
States Securities and Exchange Commission. The Bank undertakes no obligation to
update forward-looking statements to reflect events or circumstances after the
date thereof.
