What the Board approved
At its meeting on October 17, 2026, ICICI Bank's Board approved the unaudited standalone and consolidated results for the quarter and six months ended September 30, 2026 (Q2-FY2027). The joint statutory auditors, B S R & Co. LLP and C N K & Associates LLP, issued an unmodified limited-review conclusion. The Board also approved filing an application with the RBI seeking continuation of Mr. Pradeep Kumar Sinha as Non-executive Part-time Chairperson for a further period from July 1, 2027 to February 16, 2029, within his approved tenure as an Independent Director.
The quarter's story
The defining feature of the quarter is a steep expansion of the balance sheet. Total advances grew 30.0% year-on-year and deposits 27.1% year-on-year, both aided by FCNR (B) inflows — excluding those, loans grew 24.1% and deposits 17.0%. Profit growth ran below balance-sheet growth: net interest margin narrowed to 4.18% from 4.30% a year earlier, and the bank recorded a treasury loss of ₹230 crore against a gain in the comparable quarter. Core operating profit, which the bank reports excluding treasury, grew 21.8% year-on-year. Asset quality improved on reported ratios, with the gross NPA ratio easing to 1.20% and net NPA to 0.30%.
Capital, provisions and subsidiaries
The bank continued to hold a contingency provision of ₹13,100 crore and an additional standard asset provision of ₹1,283 crore made in Q3-2026 as directed by the RBI against an agricultural priority-sector portfolio, pending completion of a review. On the consolidated side, it acquired an additional 2% shareholding in ICICI Life Insurance Limited for ₹1,470 crore during the quarter, recognising goodwill of ₹1,178.39 crore. Total capital adequacy stood at 16.68% and the CET-1 ratio at 16.01%, both above the stated minimum regulatory requirements.