ICICI Bank
NII growth improves as NIM rises: Interest income increased 2% to Rs 41965.84 crore, while interest expenses fell 4% to Rs 20033.60 crore in Q3FY2026. NII improved 8% to Rs 21932.24 crore in Q3FY2026.
Margins improve: The bank has shown 36 bps YoY decline in cost of deposits to 4.55%, while yield on advances declined 57 bps YoY to 9.08% in Q3FY2026. NIM has improved 5 bps YoY to 4.30%, while remained flat qoq in Q3FY2026.
Slow growth in the core fee income: The non-interest income of the bank increased 4% to Rs 7368.16 crore in Q3FY2026. Bank has posted strong 6% growth in core fee income to Rs 6572 crore, while there were losses in the treasury segment at Rs 157 crore. The recoveries and other income improved 3300% to Rs 272 crore in Q3FY2026.
Expense ratio rises: The operating expenses of the bank increased 13% to Rs 11944.44 crore, as other expenses moved up 14% to Rs 7522.64 crore, while employee expenses rose 13% to Rs 4421.8 crore in Q3FY2026. Cost to income ratio moved up to 40.8% in Q3FY2026 compared with 38.5% in Q3FY2025. Operating Profit moved up 3% to Rs 17355.96 crore.
Provisions and contingencies increase: The bank has shown 108% increase in provisions to Rs 2556 crore.
PBT declined 5% to Rs 14800.38 crore in Q3FY2026. Effective tax rate declined to 23.5% in Q3FY2026 from 24.7% in Q3FY2025. Net Profit declined 4% YoY to Rs 11317.86 crore in Q3FY2026.
Asset quality improves: The bank has improved asset quality in Q3FY2026.
The fresh slippages of loans stood at Rs 5356 crore in Q3FY2026 compared with Rs 5034 crore in previous quarter and Rs 6085 crore in the corresponding quarter last year. The recoveries and upgradations of NPAs stood at Rs 3282 crore, while the write-off of loans was at Rs 2046 crore in Q3FY2026. Provision coverage ratio was steady at 75.40% at end December 2025 compared to 75.00% a quarter ago and 78.20% a year ago. The capital adequacy ratio of the bank stood at 15.6% with Tier I ratio at 14.7% at end December 2025. The risk weighted assets of the bank has increased 13% YoY to Rs 1709747 crore end December 2025.| Asset Quality Indicators: ICICI Bank | ||||||||
| ? | Dec-25 | Sep-25 | Jun-25 | Mar-25 | Dec-24 | Variation | ||
| QoQ | YTD | YoY | ||||||
| Gross NPA (Rs Crore) | 23757.88 | 23849.66 | 24732.65 | 24166.18 | 27745.33 | 0 | -2 | -14 |
| Net NPA (Rs Crore) | 5731.95 | 5827.00 | 5971.09 | 5589.41 | 5897.76 | -2 | 3 | -3 |
| % Gross NPA | 1.53 | 1.58 | 1.67 | 1.67 | 1.96 | -5 | -14 | -43 |
| % Net NPA | 0.37 | 0.39 | 0.41 | 0.39 | 0.42 | -2 | -2 | -5 |
| % PCR | 75.40 | 75.00 | 75.30 | 76.20 | 78.20 | 40 | -80 | -280 |
| % CRAR - Basel III | 15.59 | 15.76 | 16.31 | 16.55 | 14.71 | -17 | -96 | 88 |
| % CRAR - Tier I - Basel III | 14.71 | 15.11 | 15.65 | 15.94 | 14.04 | -40 | -123 | 67 |
| Variation in basis points for figures given in percentages and in % for figures in Rs crore | ||||||||
Business Highlights:
Business growth improves: The business of the bank has increased at an accelerated pace of 10% YoY to Rs 3125765 crore end December 2025, as advances growth improved to 12% to Rs 1466154 crore and deposits growth also improved to 9% to Rs 1659611 crore at end December 2025. With the faster growth in advances, the credit to deposit ratio rose to 88.3% at end December 2025 from 86.5% at end December 2024.
CASA deposits ratio stable: The CASA deposits of the bank increased 8% YoY to Rs 667590 crore at end December 2025. The current account deposits moved up 14% to Rs 206747 crore, while saving account deposits increased 6% to Rs 452124 crore end December 2025. The CASA ratio was nearly stable at 40.2% at end December 2025 compared to 40.5% at end December 2024 and 40.9% at end September 2025. The term deposits have increased 10% to Rs 992021 crore end December 2025.
Loan growth improves: Within the loan book, the retail loans increased 7% YoY to Rs 753798 crore at end December 2025, while credit to agriculture increased 5% to Rs 83389 crore and MSME credit increased 23% to Rs 304536 crore. The corporate credit has also increased 6% to Rs 296452 crore end December 2025. The overseas credit has increased 12% to Rs 35259 crore end December 2025. The share of retail, agriculture and MSME (RAM) eased to 77.9% at end December 2025 compared to 78.4% at end December 2024, while that of corporate loans rose to 22.1% at end December 2025 compared to 21.6% at end December 2024.
Investment book of the bank increased 5% YoY to Rs 494642 crore at end December 2025. The SLR book moved up 5% to Rs 404337 crore, while non SLR book rose 4% to Rs 90305 crore at end December 2025.
Branch expansion: The bank has added 139 branches and added 1373 ATMs in Q3FY2026, taking overall tally to 7385 branches and 11983 ATM`s end December 2025.
Book value of the bank stood at Rs 443.1 per share at end December 2025, while the adjusted book value (net of NNPA and 10% of restructured advances) was Rs 434.9 per share at end December 2025.
Consolidated results
The consolidated profit after tax was Rs 12538 crore in Q3FY2026 compared to Rs 12883 crore in Q3FY2025. Consolidated assets grew by 8.8% year-on-year to Rs 2753471 crore at end December 2025 from Rs 2531488 crore at end December 2024.Key subsidiaries
The annualised premium equivalent of ICICI Prudential Life Insurance (ICICI Life) was Rs 6,811 crore in 9MFY2026 compared to Rs 6,905 crore in 9MFY2025. Value of New Business (VNB) of ICICI Life increased to Rs 1,664 crore in 9MFY2026 from Rs 1,575 crore in 9MFY2025. The VNB margin was 24.4% in 9MFY2026 compared to 22.8% in FY2025 and 9MFY2025. The profit after tax increased to Rs 992 crore in 9MFY2026 from Rs 803 crore in 9MFY2025 and Rs 390 crore in Q3FY2026 from Rs 326 crore in Q3FY2025. The Gross Direct Premium Income (GDPI) of ICICI Lombard General Insurance Company (ICICI General) increased to Rs 7,041 crore in Q3FY2026 from Rs 6,214 crore in Q3FY2025. The combined ratio stood at 104.5% in Q3FY2026 compared to 102.7% in Q3FY2025. The profit after tax of ICICI General was Rs 659 crore in Q3FY2026 compared to Rs 724 crore in Q3FY2025. The profit after tax of ICICI Prudential Asset Management Company, as per Ind AS, was Rs 917 crore in Q3FY2026 compared to Rs 632 crore in Q3 2025. The profit after tax of ICICI Securities, on a consolidated basis, as per Ind AS, was Rs 475 crore in Q3FY2026 compared to Rs 504 crore in Q3FY2025. The profit after tax of ICICI Home Finance, as per Ind AS, was Rs 195 crore in Q3FY2026 compared to Rs 203 crore in Q3FY2025Financial Performance 9MFY2026:
Bank has posted 5% increase in net profit to Rs 36444.96 crore in the nine months ended December 2025 (9MFY2026). The net interest income increased 9% to Rs 65096.16 crore, while non-interest income moved up 10% to Rs 23448.60 crore, leading net total income to increase 9% to Rs 88544.76 crore in 9MFY2026. The operating expenses increased 11% to Rs 35145.00 crore, while provision and contingencies jumped 39% to Rs 5284.26 crore. PBT increased 5% to Rs 48115.50 crore in 9MFY2026. The cost-to-income ratio rose to 39.7% in 9MFY2026 compared to 38.9% in 9MFY2025. An effective tax rate eased to 24.3% in 9MFY2026 compared to 24.5% in 9MFY2025. The net profit has increased 5% to Rs 36444.96 crore in 9MFY2026. ?| ICICI Bank: Results | |||||||||
| Particulars | 2512 (3) | 2412 (3) | Var % | 2512 (9) | 2412 (9) | Var % | 2503 (12) | 2403 (12) | Var % |
| Interest Earned | 41965.84 | 41299.82 | 2 | 126670.70 | 120832.98 | 5 | 163263.78 | 142890.94 | 14 |
| Interest Expended | 20033.60 | 20929.21 | -4 | 61574.54 | 60861.48 | 1 | 82099.34 | 68585.22 | 20 |
| Net Interest Income | 21932.24 | 20370.61 | 8 | 65096.16 | 59971.50 | 9 | 81164.44 | 74305.72 | 9 |
| Other Income | 7368.16 | 7068.05 | 4 | 23448.60 | 21246.63 | 10 | 28506.70 | 22957.77 | 24 |
| Net Total Income | 29300.40 | 27438.66 | 7 | 88544.76 | 81218.13 | 9 | 109671.14 | 97263.49 | 13 |
| Operating Expenses | 11944.44 | 10552.11 | 13 | 35145.00 | 31583.56 | 11 | 42372.32 | 39132.73 | 8 |
| Operating Profits | 17355.96 | 16886.55 | 3 | 53399.76 | 49634.57 | 8 | 67298.82 | 58130.76 | 16 |
| Provisions & Contingencies | 2555.58 | 1226.65 | 108 | 5284.26 | 3791.92 | 39 | 4682.62 | 3642.93 | 29 |
| Profit Before Tax | 14800.38 | 15659.90 | -5 | 48115.50 | 45842.65 | 5 | 62616.20 | 54487.83 | 15 |
| EO | 0.00 | 0.00 | - | 0.00 | 0.00 | - | 0.00 | 0.00 | - |
| PBT after EO | 14800.38 | 15659.90 | -5 | 48115.50 | 45842.65 | 5 | 62616.20 | 54487.83 | 15 |
| Provision for tax | 3482.52 | 3867.48 | -10 | 11670.54 | 11245.24 | 4 | 15389.21 | 13599.56 | 13 |
| PAT | 11317.86 | 11792.42 | -4 | 36444.96 | 34597.41 | 5 | 47226.99 | 40888.27 | 16 |
| EPS*(Rs) | 63.3 | 66.8 | ? | 67.9 | 65.3 | ? | 66.3 | 58.2 | ? |
| Equity | 1430.4 | 1412.1 | ? | 1430.4 | 1412.1 | ? | 1424.6 | 1405.0 | ? |
| Adj BV (Rs) | 434.9 | 369.3 | ? | 434.9 | 369.3 | ? | 394.8 | 325.0 | ? |
| * EPS and Adj BV are calculated on diluted equity as given for each year. Face Value: Rs 2, Figures in Rs crore | |||||||||
| Source: Capitaline Corporate Database | |||||||||
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