ICICI Bank is ?adequately capitalised? and doesn?t need additional funds for growth, managing director and CEO Chanda Kochhar said. ?As far as we are concerned, we operate at a capital adequacy of 19% against Reserve Bank of India?s current requirement of 9%,? Kochhar told TickerNews in an exclusive interview here Tuesday. ICICI Bank ended Apr-Jun with capital adequacy ratio of 20.2% under Basel II and tier-I capital adequacy of 14.0%.
As per new Basel III norms, the key capital ratio has been raised to 7% of risky assets, while Tier-I capital has to be 4.5%. Also, banks will have to set aside another 2.5% as a contingency for future stress. Kochhar said the different subsidiaries of the group have reached the ?right stage? to grow its businesses.