SEC Form 6-K filed by ICICI Bank Limited

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN ISSUER PURSUANT TO RULE 13a -16 OR 

15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of August 2024

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.

Table of Contents

Items:

August 1, 2024

The United States

Securities and Exchange Commission

Washington D.C. 20549

United States of America

Attn.: Filing Desk

Dear Madam/Sir,

IBN

ICICI Bank Limited (the ‘Company’) Report on Form 6-K

On behalf of the Company, I am enclosing for filing, signed copy of the Company’s Report on Form 6-K dated August 1, 2024 in connection with filing of Annual Report in Form 20-F with Securities and Exchange Commission for the year ended March 31, 2024. We enclose herewith the details of Form 20-F as forwarded to Indian Stock Exchanges in this regard.

This is for your reference and records.

Yours sincerely,

For ICICI Bank Limited

Vivek Ranjan

Assistant General Manager

Encl.: As above

Filing of Form 20-F

ICICI Bank Limited (NYSE: IBN) filed its annual report in Form 20-F for the year ended March 31, 2024 (FY2024) as required by United States securities regulations, on July 31, 2024. The Form 20-F annual report includes the Bank’s consolidated financial statements under Indian GAAP and a reconciliation of consolidated profit after tax and net worth under Indian GAAP to net income and stockholders’ equity under U.S. GAAP, approved by the Audit Committee of the Board.

There are significant differences in the basis of accounting between U.S. GAAP and Indian GAAP primarily relating to business combinations, allowance for loan losses, consolidation, valuation of securities and derivatives, amortization of fees and costs, securitization, income taxes and fixed assets.

The consolidated profit after tax under Indian GAAP increased from 34,037 crore (US$ 4,084 million) in FY2023 to Rs. 44,256 crore (US$ 5,310 million) in FY2024. The consolidated net income under U.S. GAAP in FY2024 was Rs. 61,376 crore (US$ 7,365 million) as compared to Rs. 24,999 crore (US$ 3,000 million) in FY2023.

Stockholders’ equity as per U.S. GAAP was Rs. 310,990 crore (US$ 37.3 billion) at March 31, 2024 compared to the consolidated net worth as per Indian GAAP of Rs. 256,144 crore (US$ 30.7 billion). The reconciliation of consolidated profit after tax and net worth under Indian GAAP to net income and stockholders’ equity under U.S. GAAP is explained in detail in note 21 on page F-122 of the consolidated financial statements of the Bank in the Form 20-F.

Pursuant to its issuance and listing of securities in the United States under registration statements filed with the Securities and Exchange Commission, ICICI Bank files annual report in Form 20-F with the SEC as required by U.S. securities laws and regulations. ICICI Bank in its annual report in Form 20-F includes consolidated financial statements under Indian GAAP, with a reconciliation of profit after tax and net worth under Indian GAAP to net income and stockholders' equity under U.S. GAAP and a description of significant differences between Indian GAAP and U.S. GAAP.

Copies of the Form 20-F are available from the United States Securities and Exchange Commission (SEC) website www.sec.gov or via a direct link to the SEC website at "About Us/Annual reports" page of ICICI Bank's website:

(https://www.sec.gov/Archives/edgar/data/1103838/000095010324011297/dp213313_20f.htm)

Shareholders may obtain a copy of the complete audited financial statements free of charge by writing to Company Secretary, ICICI Bank Limited, ICICI Bank Towers, Bandra Kurla Complex, Mumbai 400051 or sending an e-mail to [email protected], with details of their shareholding and mailing address.

For further press queries please contact Sujit Ganguli / Kausik Datta at [email protected] / [email protected] or [email protected].

For investor queries please contact Abhinek Bhargava / Nitesh Kalantri at [email protected] / [email protected] or [email protected].

1 crore = 10 million

US$ amounts represent convenience translations at US$1= Rs. 83.34

August 1, 2024

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.