ICICI denies report it’s in talks with Spring Bank

A statement by the Nigerian lender said it is in negotiations with potential investors including ICICI.

ICICI Bank said on Wednesday it was not in talks with Nigeria's Spring Bank about any investment, denying a statement made a day earlier by the Nigerian lender.

"ICICI Bank is not in discussions with Spring Bank for any investment," a spokesman for the Indian bank said in a report in Money Control.

Spring Bank said in a statement on Tuesday it was in recapitalisation talks with several possible investors including ICICI and US-based private equity firm Cloudleap Partners.