ICICI Bank Q1 Profit Rises 16% to ₹14,805 Crore

ICICI Bank reported a standalone net profit of ₹14,805 crore for the first quarter ended June 30, 2026, marking a year-on-year increase of approximately 16%. This result significantly exceeded market projections from Motilal Oswal Financial Services and Systematix Research, which had estimated profit growth between 1.7% and 3.1%. The surge was driven by a 13% rise in net interest income to ₹24,384 crore and a 31% decline in provisions for bad loans.

Loan growth remained robust, with gross advances increasing roughly 20% to ₹16,31,260 crore, led by a 35.4% expansion in the rural portfolio. Total deposits grew 14% to ₹18,33,586 crore. Asset quality showed marginal improvement, as the gross non-performing asset ratio declined to 1.38% from 1.40% in the previous quarter.

Executive Director Sandeep Batra attributed the margin improvements to income tax refunds and term deposits repricing, though he noted that margins should remain range-bound for the fiscal year. Parallelly, a report from Ashika Institutional Equities highlighted a positive broader outlook for Indian banks in FY27, citing non-food credit growth of 18.6% as of June 30 and expecting system credit growth to remain around 15% for the year.