Mumbai: ICICI Bank Q1 FY27 results showed a strong performance for the quarter ended June 30, 2026, with standalone profit after tax rising 15.9% year-on-year to ₹14,805 crore.
The bank also reported healthy growth across core operating profit, net interest income, advances and deposits, while maintaining stable asset quality and strong capital adequacy.
The Board of Directors of ICICI Bank approved the standalone and consolidated financial statements for the quarter ended June 30, 2026. The statutory auditors conducted a limited review and issued an unmodified report on both the standalone and consolidated financial statements.
Profitability
The ICICI Bank Q1 FY27 performance reflected continued growth in core earnings.
- Profit before tax excluding treasury increased 20.9% year-on-year to ₹18,975 crore from ₹15,690 crore.
- Core operating profit rose 15.6% to ₹20,235 crore from ₹17,505 crore.
- Core operating profit excluding dividend from subsidiaries increased 18.3% to ₹19,125 crore.
- Profit before tax increased 13.0% to ₹19,126 crore.
- Profit after tax rose 15.9% to ₹14,805 crore, compared with ₹12,768 crore in the corresponding quarter last year.
Net Interest Income and Margins
The ICICI Bank Q1 FY27 earnings were supported by healthy growth in interest income.
- Net interest income (NII) increased 12.7% year-on-year to ₹24,384 crore, compared to ₹21,635 crore in Q1 FY26.
- Net interest margin (NIM) stood at 4.36%, compared with 4.32% in Q4 FY26 and 4.34% in Q1 FY26.
- Fee Income and Non-Interest Income
Non-interest income excluding treasury increased 16.0% year-on-year to ₹8,425 crore.
Fee income grew 23.5% to ₹7,286 crore from ₹5,900 crore in the year-ago period. Fees from retail, rural and business banking customers accounted for approximately 72% of total fees during the quarter.
Operating expenses increased 10.4% year-on-year to ₹12,574 crore.
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The bank reported a treasury gain of ₹151 crore, compared with a treasury loss of ₹106 crore in the previous quarter and a gain of ₹1,241 crore in Q1 FY26.
Provisions excluding tax declined to ₹1,260 crore from ₹1,815 crore a year ago. At June 30, 2026, ICICI Bank continued to hold contingency provisions of ₹13,100 crore along with an additional standard asset provision of ₹1,283 crore made in Q3 FY26 as directed by the Reserve Bank of India for the agricultural priority sector portfolio.
Credit Growth
The ICICI Bank Q1 FY27 loan portfolio expanded strongly across segments.
- Total advances increased 19.6% year-on-year and 5.0% sequentially to ₹16,31,260 crore.
Segment-wise growth included:
- Retail loan portfolio grew 12.0% year-on-year and represented 49.2% of the total loan portfolio.
- Including non-fund outstanding, the retail portfolio accounted for 41.1% of the total portfolio.
- Business banking portfolio grew 28.2% year-on-year.
- Rural portfolio expanded 35.4% year-on-year.
- Domestic corporate portfolio increased 18.5% year-on-year.
- Domestic advances grew 18.8% year-on-year.
Deposit Growth
The ICICI Bank Q1 FY27 results also reflected healthy liability growth.
Total period-end deposits increased 14.0% year-on-year and 2.2% sequentially to ₹18,33,586 crore.
Average deposits rose 14.0% year-on-year to ₹17,48,028 crore.
Average current and savings account (CASA) deposits increased 12.1% year-on-year, while the average CASA ratio stood at 38.1% during the quarter.
The bank added 97 branches during the quarter, taking its network to 7,608 branches and 12,190 ATMs and cash recycling machines as of June 30, 2026.
Asset Quality
The ICICI Bank Q1 FY27 asset quality remained stable.
- Gross NPA ratio stood at 1.38%, compared with 1.40% at March 31, 2026 and 1.67% a year ago.
- Net NPA ratio was 0.35%, compared with 0.33% in the previous quarter and 0.41% a year ago.
- Gross NPA additions during the quarter were ₹5,552 crore, compared with ₹6,245 crore in Q1 FY26.
- Recoveries and upgrades excluding write-offs and sales amounted to ₹2,845 crore.
- Net additions to gross NPAs excluding write-offs and sales were ₹2,707 crore.
- Gross NPAs written off during the quarter amounted to ₹1,673 crore.
- Provisioning coverage ratio on non-performing loans stood at 74.7%.
Excluding NPAs, fund-based outstanding under various resolution frameworks declined to ₹1,363 crore from ₹1,496 crore in the previous quarter.
The bank held total provisions other than specific provisions on NPAs amounting to ₹22,963 crore, representing 1.4% of loans.
Capital Position
The ICICI Bank Q1 FY27 capital position remained well above regulatory requirements.
- Total capital adequacy ratio stood at 16.84%.
- CET-1 ratio was 16.19%, compared with the minimum regulatory requirements of 11.70% and 8.20%, respectively.
Consolidated Performance
On a consolidated basis:
- Profit after tax increased to ₹15,440 crore from ₹13,558 crore in Q1 FY26.
- Consolidated assets grew 12.5% year-on-year to ₹30,02,407 crore.
- Performance of Key Subsidiaries
ICICI Prudential Life Insurance reported:
- Annualised Premium Equivalent (APE) of ₹2,136 crore, up from ₹1,864 crore.
- Value of New Business (VNB) increased to ₹571 crore.
- VNB margin improved to 26.7% from 24.7% in FY26.
- Profit after tax increased to ₹386 crore.
ICICI Lombard General Insurance recorded:
- Gross Direct Premium Income (GDPI) of ₹8,318 crore, up from ₹7,735 crore.
- Combined ratio stood at 107.2%.
- Profit after tax was ₹403 crore.
ICICI Prudential Asset Management Company reported profit after tax of ₹965 crore, compared with ₹784 crore in the corresponding quarter last year.
ICICI Securities posted consolidated profit after tax of ₹419 crore, compared with ₹391 crore in Q1 FY26.
ICICI Home Finance reported profit after tax of ₹200 crore, compared with ₹214 crore in the year-ago quarter.
