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ICICI Bank has acquired the entire paid-up capital of Investitsionno-Kreditny Bank of Russia as part of its business plans to expand international operations.
The bank has registered its office in Balabanovo in Kaluga region of Russia and one branch in Moscow, ICICI Bank said in a release in Mumbai on Thursday.
IKB had an asset base of $4.4 million as on March 31, 2005, the release added.
ICICI Bank, however, did not elaborate on the timing of the acquisition and the cost involved.