| Stocks Details | |
| Market Cap.(₹ Cr) | 10,48,589 |
| Equity (₹Cr) | 1,434.9 |
| Face Value (₹) | 2 |
| 52 Wk. high/low (₹) | 1,494.10 / 1,187.55 |
| BSE Code | 532174 |
| NSE Code | ICICIBANK |
| Book Value (₹) | 521.1 |
| Industry | PVT. BANK |
| P/E | 20.88x |
| Ratios | |
| NIM % | 4.4 |
| GNPA % | 1.38 |
| NNPA % | 0.35 |
| ROA % | 2.49 |
| EPS | 20.42 |
| CASA % | 38.1 |
| PCR % | 74.7 |
- Interest earned increased 6.34% YoY to ₹45,670.80 crore in Q1FY27 from ₹42,946.90 crore in Q1FY26 and grew 5.54% QoQ from ₹43,275.40 crore in Q4FY26.
- Net Interest Income (NII) delivered a strong performance, rising 12.71% YoY to ₹24,384.40 crore from ₹21,634.50 crore and 6.12% QoQ from ₹22,979.10 crore. Net Interest Margin (NIM) improved to 4.36% in Q1FY27 from 4.32% in Q4FY26 and 4.34% in Q1FY26.
- Operating Profit increased 8.75% YoY to ₹20,386.20 crore from ₹18,745.90 crore and registered a strong 12.02% QoQ growth over ₹18,199.10 crore reported in Q4FY26.
- Profit After Tax remained healthy, growing 15.95% YoY to ₹14,804.70 crore from ₹12,768.20 crore and 8.05% QoQ from ₹13,701.60 crore, reflecting continued earnings momentum.
- The bank maintained robust business growth, with total deposits increasing ~14% YoY to ₹18.34 lakh crore from ₹16.09 lakh crore and 2.17% QoQ from ₹17.95 lakh crore. Total advances grew 19.58% YoY to ₹16.31 lakh crore from ₹13.64 lakh crore and nearly 5% QoQ from ₹15.54 lakh crore, indicating sustained credit demand.
- Capitalisation remained strong, with the Capital Adequacy Ratio (CAR) at 16.84% and the CET-1 ratio at 16.19% on a standalone basis, providing a comfortable capital buffer to support future growth.
- Asset quality continued to improve, with the Gross NPA ratio declining to 1.38% in Q1FY27 from 1.40% in Q4FY26 and 1.67% in Q1FY26. The Net NPA ratio stood at 0.35%, compared with 0.33% in the previous quarter and 0.41% a year ago, reflecting stable and healthy asset quality.
- The CASA ratio stood at 38.1% in Q1FY27 compared with 38.6% in Q4FY26 and 38.7% in Q1FY26, while the Provision Coverage Ratio (PCR) was 74.7%, compared with 75.8% in Q4FY26 and 75.3% in Q1FY26.
- The bank’s average Liquidity Coverage Ratio (LCR) for Q1FY27 stood at ~ 124%, comfortably above regulatory requirements, indicating strong liquidity buffers. This positions ICICI Bank well to fund incremental loan growth while maintaining resilience against potential systemic liquidity tightening in coming quarters.
- Business banking grew 28.2% YoY, with management comfortable expanding this secured, granular book despite macro headwinds. Domestic corporate loans grew 18.5% YoY, reflecting shift from bond markets to bank credit and liquidity buffering. Overseas portfolio stayed at 3.1% of book, gaining from trade finance and NRI borrowings.
- Branch network expanded by 97 branches in Q1FY27, taking total branch count to 7,608 as of June 30, 2026, reflecting continued physical distribution investment even as technology expenses remained a meaningful 11.4% of total operating expenses for the quarter under review.
Management Commentary and Guidance:
- Management indicated NIM should remain broadly range-bound going forward assuming stable policy rates, though the upcoming FCNR(B) deposit mobilization scheme could exert some margin pressure over time as the international branches’ balance sheet expands materially, even though the overall program remains earnings accretive.
- On the upcoming ECL (Expected Credit Loss) transition, management expects negligible impact on net worth given existing provisioning buffers, though ongoing credit costs may rise due to new Stage 2 provisioning requirements, partially offset by lower Stage 3 provisions under the shift to predictive loss modeling.
- Management confirmed a one-off recovery this quarter stemming from an NCLT judgment on an asset previously sold to NARCL, contributing to headline recovery numbers; excluding such chunky one-offs, normalized credit costs are expected to trend around 50 basis points on a more sustainable basis going forward.
- On agri-portfolio remediation, management stated validation and regulatory sign-off processes are actively underway but declined to commit to a specific timeline for potential provision write-backs, suggesting resolution could extend over the next few months rather than materializing immediately in Q2FY27.
- Management does not see PSU bank competitive intensity easing meaningfully, noting some public sector banks have used up LCR/LDR buffers, but emphasized their own strategy is focused on capturing untapped market share within their existing risk framework rather than reacting to competitor pricing behaviour.
Outlook:
ICICI Bank delivered a strong operational performance in Q1FY27, supported by healthy growth across key financial and business metrics. Net Interest Income (NII) increased 12.71% YoY, while Profit After Tax (PAT) grew 15.95% YoY, reflecting resilient earnings momentum. Business growth remained robust, with total advances rising 19.58% YoY and total deposits increasing ~ 14% YoY, highlighting sustained credit demand. Asset quality continued to improve, with the Gross NPA ratio declining to 1.38% and Net NPA to 0.35%, underscoring prudent underwriting and effective risk management. The bank also continued to strengthen its distribution network by adding 97 branches during the quarter, taking the total branch count to 7,608, which supports its long-term growth strategy. Management expects Net Interest Margin (NIM) to remain broadly range-bound, assuming a stable interest rate environment. Overall, ICICI Bank remains well-positioned to deliver sustainable growth, backed by strong asset quality, healthy business expansion, and consistent execution.
Profit and Loss Statement:
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