ICICI Bank announced its results for the third quarter of fiscal year 2026. The bank reported a 6.0% year-over-year growth in core operating profit, reaching ₹175.13 billion. The results reflect adjustments related to new labor codes and additional standard asset provisions mandated by the Reserve Bank of India (RBI). Despite these regulatory impacts, ICICI Bank maintained a strong asset quality and capital adequacy.
Financial Performance Overview
For Q3 2026, ICICI Bank’s core operating profit increased by 6.0% year-over-year to ₹175.13 billion. This includes the impact of ₹1.45 billion related to provisions for the new Labour Codes. Provisions for the quarter totaled ₹25.56 billion (compared to ₹12.27 billion in Q3 2025). The results reflect a balance between growth and adaptation to evolving regulatory requirements.
Key Financial Metrics
- Average deposits grew by 8.7% year-over-year.
- Domestic loans increased by 11.5% year-over-year.
- Retail loans grew by 7.2% year-over-year.
- Business banking portfolio grew by 22.8% year-over-year.
- Domestic corporate portfolio increased by 5.6% year-over-year.
Asset Quality and Capital Adequacy
ICICI Bank maintained a strong asset quality profile. Net additions to gross NPAs were ₹20.74 billion. The net NPA ratio stood at 0.37% as of December 31, 2025. The provision coverage ratio was 75.4%. The Common Equity Tier 1 ratio was 16.46%, and the total capital adequacy ratio was 17.34%.
RBI Supervisory Review Impact
Following its annual supervisory review, the RBI has directed ICICI Bank to make a standard asset provision of ₹12.83 billion in respect of a portfolio of agricultural priority sector credit facilities. This additional provision contributes to the higher provision numbers for the quarter but does not affect asset classifications or borrower terms.
Subsidiary Performance
Several key subsidiaries also reported their performance. ICICI Prudential Life Insurance saw annualised premium equivalent of ₹68.11 billion. ICICI Lombard General Insurance had gross direct premium income of ₹70.41 billion. ICICI Prudential Asset Management saw MF QAAUM grow by 23.2% year-over-year. ICICI Securities reported a 4.1% year-over-year growth in total assets.
Source: BSE
