ICICI Bank delivered a solid performance in the first quarter of FY26, with strong year-on-year growth in both profit and core income.
The private sector lender reported a net profit of ₹12,768 crore, a 15.4% increase from ₹11,059 crore in Q1 FY25. The net interest income (NII) — the difference between interest earned and interest expended — came in at ₹21,634 crore, up 10.6% YoY from ₹19,553 crore.
In terms of asset quality, gross non-performing assets (GNPA) stood at 1.67%, unchanged from the previous quarter. However, net NPA slightly rose to 0.41%, compared to 0.39% in the March quarter.
Total advances grew by 11.5% year-on-year and 1.7% sequentially to ₹13.64 lakh crore as of June 30, 2025. Net domestic advances registered a 12% increase over the previous year and rose 1.5% from the March quarter. Within the loan book, the retail portfolio grew 6.9% year-on-year and 0.5% sequentially, accounting for 52.2% of the total loan book. Including non-fund-based exposure, retail made up 43.2% of the portfolio. Business banking loans grew 29.7% year-on-year and 3.7% sequentially. The rural loan book, however, declined 0.4% year-on-year and 1.5% from the previous quarter. The domestic corporate portfolio recorded a 7.5% annual increase but fell 1.4% on a quarter-on-quarter basis.
On the deposit side, period-end deposits rose 12.8% year-on-year to ₹16.08 lakh crore. Average deposits during the quarter increased 11.2% year-on-year and 3.1% sequentially to ₹15.33 lakh crore. Within this, average current account deposits were up 11.2% over the year and 4.6% sequentially, while average savings account balances increased 7.6% year-on-year and 3.6% over the previous quarter. The bank also added 83 branches during the quarter, taking its total network to 7,066 branches and 13,376 ATMs and cash recycling machines.
Asset quality remained largely stable. Gross non-performing assets (GNPA) ratio stood at 1.67%, unchanged from the March quarter but lower than the 2.15% reported a year ago. Net NPA rose slightly to 0.41% from 0.39% in the previous quarter but was below the 0.43% level seen in Q1 FY25. Gross additions to NPAs came in at ₹6,245 crore in Q1 FY26, while recoveries and upgrades (excluding write-offs and sales) totaled ₹3,211 crore. Net additions to gross NPAs stood at ₹3,034 crore. The bank wrote off ₹2,359 crore of bad loans during the quarter. The provision coverage ratio on NPAs stood at 75.3%.
