ICICI Bank shuts down operations in Sri Lanka

ICICI Bank has recently shut down operations in Sri Lanka after getting approval from Sri Lankan monetary authority.

The ICICI Bank informed that the Monetary Board of the Central Bank of Sri Lanka, considering the request by ICICI Bank has granted approval to close down the business operation of the bank in Sri Lanka and cancel the license issued to it.

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The private sector lender said, “The Director of Bank Supervision being satisfied with the bank complying with the terms and conditions imposed by the Monetary Board, the licence issued to the bank to carry on banking business in Sri Lanka is cancelled with effect from October 23, 2020.”

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