ICICI Bank Reports 20% Profit Surge in Q2, Asset Quality Improves
ICICI Banks consolidated profit rose by over 20% in Q2, with enhanced asset quality and reduced provisioning, signaling strong financial health.
Mumbai, October 17 (Daily Kiran) : ICICI Bank announced its financial results for the second quarter of FY27 on Saturday, revealing a consolidated profit of ₹14,843 crore. This marks a significant increase of 20.1% compared to ₹12,359 crore during the same period last year.
The July-September quarter saw not only profit growth but also improvements in asset quality and a decrease in provisioning. The bank’s gross non-performing assets (NPA) fell to 1.20%, down from 1.38% in the previous quarter. Meanwhile, net NPA decreased from 0.35% to 0.30%.
Provisioning for the private bank also saw a decline, dropping to ₹851 crore from ₹1,260 crore in the June quarter, and down from ₹914 crore a year prior.
Additionally, the bank’s net interest income (NII) rose by 18% to ₹25,339 crore, compared to ₹21,529 crore in the same quarter last year. However, the net interest margin (NIM) slightly decreased from 4.36% to 4.18%.
In a related matter, ICICI Bank has submitted an application to the Reserve Bank of India (RBI) seeking approval for Pradeep Kumar Sinha to continue as the bank’s non-executive part-time chairman from July 1, 2027, to February 16, 2029. This proposed period aligns with the term for which the bank’s board and shareholders have already approved his role as an independent director.
In the previous trading session, ICICI Bank’s shares closed at ₹1,397, reflecting a gain of 0.55%. Over the past month, the stock has returned approximately 4%, although it has seen a decline of about 3% over the last year.
