ICICI Bank's Stellar Q1 Performance: Riding the Wave of Growth
ICICI Bank Limited has reported an impressive set of numbers for its first quarter of financial year 2027, with profit before tax excluding treasury growing by a robust 20.9% year-on-year to INR 189.75 billion. This significant jump in profitability is a testament to the company's strategic focus on delivering customer-centric solutions and capitalizing on opportunities across various ecosystems and micro-markets.
The core operating profit increased by 15.6% year-on-year to INR 202.35 billion, while the core operating profit excluding dividend from subsidiaries grew by 18.3% year-on-year to INR 191.25 billion. Profit after tax also witnessed a substantial growth of 15.9% year-on-year to INR 148.05 billion.
In terms of deposits, ICICI Bank has seen a notable increase with total deposits growing by 14% year-on-year and 2.2% sequentially at June 30, 2026. Average deposits have grown by 14% year-on-year and 6.1% sequentially, while average current and savings accounts deposits grew by 12.1% year-on-year and 4.7% sequentially during the quarter.
The bank's liquidity position remains strong with an average liquidity coverage ratio (LCR) of about 124%. The overall loan portfolio has grown by a substantial 19.6% year-on-year and 5% sequentially at June 30, 2026. Retail loan growth has been particularly impressive, increasing by 12% year-on-year and 2.7% sequentially.
The rural portfolio, which includes gold loans, witnessed significant growth of 35.4% year-on-year and 6.2% sequentially. Business banking and domestic corporate portfolios also saw substantial increases with growth rates of 28.2% year-on-year and 6.9% sequentially and 18.5% year-on-year and 6.9% sequentially respectively.
While the net NPA ratio has increased to 0.35% at June 30, 2026 from 0.33% at March 31, 2026, the bank's provisioning coverage ratio on non-performing loans remains healthy at 74.7%. The total provisions during the quarter were INR 12.60 billion, which is a mere 6.2% of the core operating profit and 0.32% of average advances.
In addition to these notable achievements, ICICI Bank continues to hold contingency provisions worth INR 131 billion or about 0.8% of total advances at June 30, 2026. The bank's capital position remains strong with a CET1 ratio of 16.19% and a total capital adequacy ratio of 16.84% at June 30, 2026.
The company's vision for the future is clear, with a focus on driving risk-calibrated profitable growth and expanding its market share across key segments while maintaining a strong balance sheet and delivering sustainable returns to shareholders.
