CSB Bank gets RBI approval for ICICI Prudential AMC to acquire up to 10% stake

Thrissur-based CSB Bank Ltd on Tuesday (September 8) said the Reserve Bank of India (RBI) has approved ICICI Prudential Asset Management Company Ltd to acquire an aggregate holding of up to 9.95% of the bank’s paid-up share capital or voting rights.

The approval was conveyed by the RBI through a letter dated September 8, 2026, CSB Bank said in a regulatory filing.

"...we wish to inform you that the Reserve Bank of India, vide letter dated September 8, 2026, has conveyed its approval to ‘ICICI Prudential Asset Management Company Limited’ to acquire 'aggregate holding' of up to 9.95% of the paid-up share capital or voting rights in the Bank, subject to the conditions specified therein," according to a stock exchange filing.

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The approval is subject to compliance with the applicable provisions of the Banking Regulation Act, 1949, the RBI’s Commercial Banks – Acquisition and Holding of Shares or Voting Rights Directions, 2025, and the provisions of the Foreign Exchange Management Act, 1999.

ICICI Prudential Asset Management Company will also have to comply with regulations issued by the Securities and Exchange Board of India (SEBI), along with other applicable statutes, regulations and guidelines.

CSB Bank said the RBI approval is subject to the conditions specified in its letter.

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Shares of CSB Bank Ltd ended at ₹312.50, down by ₹8.35, or 2.60%, on the BSE.