ICICI Bank Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on August 30, 2025
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ICICI Bank has sent out the notice for its 31st Annual General Meeting (AGM) to be held on August 30, 2025 at 11:00 a.m. via video conferencing, along with the Annual Report for FY2024-25. Key items on the agenda include adoption of FY25 financial statements, declaration of a dividend on equity shares, and re-appointment of Mr. Sandeep Batra as a director. The bank is also seeking shareholder approval to revise the remuneration of MD & CEO Sandeep Bakhshi (basic salary of ₹28.87 lakh/month plus ₹20.15 lakh/month supplementary allowance from April 1, 2025) and three executive directors at ₹25.47 lakh/month basic plus ₹18.45 lakh/month supplementary. Additionally, Mr. Sandeep Batra is being re-appointed as Whole-time Director for two years from December 23, 2025. A large number of material related party transactions covering lending, forex, derivatives, securities, loans, repos, insurance and CSR grants are proposed for FY2026 and FY2027.
This is largely a procedural AGM notice, but shareholders should watch the dividend declaration and the pay hike for the CEO and executive directors, which could draw some attention. The long list of related party transaction approvals is standard for banks but confirms continued inter-company dealings at arm's length. Net impact on the stock is expected to be neutral.