ICICI Bank sells 18.8% stake in NIIT-IFBI to NIIT

Private sector lender ICICI Bank Ltd on Wednesday (June 11) said it has executed a share purchase agreement (SPA) with NIIT Limited and NIIT Institute of Finance Banking and Insurance Training Ltd (NIIT-IFBI) at 10:06 a.m. for the sale of its entire 18.8% stake in NIIT-IFBI.

The transaction, approved by the bank’s Board of Directors, involves a consideration of ₹6.11 crore. With the completion of this sale, NIIT-IFBI has ceased to be an associate company of ICICI Bank, effective immediately.

NIIT-IFBI was established to address the talent development needs of the banking and financial services industry. With ICICI Bank’s exit, NIIT Ltd assumes full ownership of the training institution.

Also Read: ICICI Bank revises fixed deposit interest rates

NIIT-IFBI, a key player in providing financial and banking training, reported revenue from operations of ₹56.67 crore for the fiscal year 2024. The company's net worth stood at ₹21.93 crore as of March 31, 2024.

Fourth Quarter

ICICI Bank reported a 15.7% jump in the March quarter consolidated net profit at ₹13,502 crore. On a standalone basis, the second-largest private sector lender's net profit for the January-March quarter came at ₹12,630 crore, up 18%, as against ₹10,708 crore in the year-ago period.

The core net interest income moved up 11% to ₹21,193 crore, from the year-ago period's ₹19,093 crore. The non-interest income, excluding treasury, increased 18.4% to ₹7,021 crore.

Also Read: ICICI Prudential's Anand Shah bets on services as urban consumption shifts

Provisions came at ₹891 crore in the March quarter, as against ₹718 crore in the year-ago period. The gross non-performing assets ratio improved to 1.67% at the end of March 2025, from 1.96% in December 2024.

Shares of ICICI Bank Ltd ended at ₹1,430.85, up by ₹7.95, or 0.56%, on the BSE.