NE ECONOMIC BUREAU
MUMBAI, JULY 20
India’s credit engine continues to gather speed. Reflecting the resilience of the country’s banking sector and the sustained momentum in economic activity, ICICI Bank has reported another impressive quarter, delivering double-digit growth across profits, lending, deposits and operating income while maintaining one of the strongest asset quality profiles in the industry. The performance reinforces the bank’s position as one of India’s most consistently profitable and well-capitalised private sector lenders.
- Q1 FY27 net profit climbs to ₹14,805 crore as strong lending momentum, healthy deposits and resilient operating performance reinforce growth trajectory
- Core operating profit crosses ₹20,000 crore; Net Interest Income rises 12.7% amid disciplined expansion across retail, business, rural and corporate portfolios
- Asset quality remains among the industry’s best with Gross NPA at 1.38% and Net NPA at just 0.35%; capital position stays comfortably above regulatory norms
- Deposits touch ₹18.34 lakh crore while advances surge to ₹16.31 lakh crore, reflecting sustained customer confidence and accelerating economic activity
- Insurance, asset management and securities subsidiaries continue to create value, powering consolidated profit to ₹15,440 crore
- ICICI Bank expands nationwide footprint to 7,608 branches while maintaining a technology-led, customer-centric banking franchise
For the first quarter ended June 30, 2026 (Q1 FY27), ICICI Bank reported a 15.9% year-on-year increase in standalone Profit After Tax (PAT) at ₹14,805 crore, while Profit Before Tax rose 13% to ₹19,126 crore.
The Bank’s core operating profit increased 15.6% year-on-year to ₹20,235 crore, while core operating profit excluding dividend from subsidiaries grew 18.3% to ₹19,125 crore, highlighting the strength of its core banking franchise.
Net Interest Income (NII), the key indicator of lending performance, climbed 12.7% year-on-year to ₹24,384 crore, supported by healthy loan growth and a stable Net Interest Margin (NIM) of 4.36%.
Non-interest income excluding treasury operations rose 16% to ₹8,425 crore, while fee income registered an impressive 23.5% growth to ₹7,286 crore, with retail, rural and business banking contributing nearly 72% of total fees.
Loan Book Continues to Expand
ICICI Bank maintained strong momentum across all lending segments.
The total loan portfolio expanded 19.6% year-on-year to ₹16.31 lakh crore, driven by broad-based growth across retail, business banking, rural and corporate lending.
Among the key segments:
- Business Banking: up 28.2%
- Rural Portfolio: up 35.4%
- Domestic Corporate Portfolio: up 18.5%
- Retail Loan Portfolio: up 12%
The broad-based expansion reflects healthy credit demand from individuals, MSMEs and corporates as India’s economic growth continues to remain resilient.
Deposits Reflect Strong Customer Confidence
Customer deposits continued to grow steadily.
Total deposits rose 14% year-on-year to ₹18.34 lakh crore, while average deposits also increased 14% to ₹17.48 lakh crore.
The Bank maintained a healthy average CASA ratio of 38.1%, providing a strong low-cost funding base.
During the quarter, ICICI Bank added 97 new branches, taking its nationwide network to 7,608 branches and 12,190 ATMs and Cash Recycling Machines.
Asset Quality Remains Among the Best
The Bank’s asset quality remained robust.
- Gross NPA: 1.38%
- Net NPA: 0.35%
- Provision Coverage Ratio: 74.7%
The Bank also maintained contingency provisions of ₹13,100 crore, alongside additional standard asset provisions as directed by the Reserve Bank of India, underscoring its prudent risk management approach.
Its Capital Adequacy Ratio stood at a comfortable 16.84%, while the Common Equity Tier-I (CET-1) Ratio remained strong at 16.19%, significantly above regulatory requirements.
Subsidiaries Continue to Deliver
ICICI Bank’s diversified financial services ecosystem continued to generate value.
On a consolidated basis:
- Profit After Tax: ₹15,440 crore, up from ₹13,558 crore a year earlier.
- Consolidated Assets: ₹30.02 lakh crore, representing 12.5% growth year-on-year.
Among major subsidiaries:
- ICICI Prudential Life Insurance reported higher premium collections, improved Value of New Business (VNB) and PAT of ₹386 crore.
- ICICI Lombard General Insurance recorded Gross Direct Premium Income of ₹8,318 crore.
- ICICI Prudential Asset Management Company posted PAT of ₹965 crore.
- ICICI Securities delivered consolidated PAT of ₹419 crore.
The Board also approved the quarterly financial statements after the statutory auditors issued an unmodified review report.
With sustained growth in lending, deposits, profitability and fee income, backed by disciplined risk management and one of the strongest capital buffers in the industry, ICICI Bank has begun FY27 on a confident note, reinforcing investor confidence and its leadership position in India’s rapidly expanding banking landscape.
