Performance Review: Quarter ended December 31, 2025

• Core operating profit grew by 6.0% year-on-year to ₹ 17,513 crore (US$ 1.9 billion) in the quarter ended December 31, 2025 (Q3-2026)
• 
  
• Provisions (excluding provision for tax) were ₹ 2,556 crore (US$ 284 million) in Q3-2026
  
  • Includes additional standard asset provision of ₹ 1,283 crore (US$ 143 million) made pursuant to Reserve Bank of India’s annual supervisory review
• 
  
• Profit before tax excluding treasury was ₹ 14,957 crore (US$ 1.7 billion) in Q3-2026
•  
• Profit after tax was ₹ 11,318 crore (US$ 1.3 billion) in Q3-2026
• 
  
• Average deposits grew by 8.7% year-on-year to ₹ 15,86,088 crore (US$ 176.5 billion) in Q3-2026
  
  • Average current account and savings account (CASA) ratio was 39.0% in Q3-2026
• 
  
• Total period-end deposits grew by 9.2% year-on-year to ₹ 16,59,611 crore (US$ 184.7 billion) at December 31, 2025
• 
  
• Domestic loan portfolio grew by 11.5% year-on-year to ₹ 14,30,895 crore (US$ 159.2 billion) at December 31, 2025
• 
  
• Net NPA ratio was 0.37% at December 31, 2025
• 
  
• Provisioning coverage ratio was 75.4% at December 31, 2025
• 
  
• Including profits for the nine months ended December 31, 2025 (9M-2026), total capital adequacy ratio was 17.34% and CET-1 ratio was 16.46%, on a standalone basis, at December 31, 2025

 

The Board of Directors of ICICI Bank Limited (NSE: ICICIBANK, BSE: 532174, NYSE: IBN) at its meeting held at Mumbai today, approved the standalone and consolidated accounts of the Bank for the quarter ended December 31, 2025 (Q3-2026). The statutory auditors have conducted a limited review and have issued an unmodified report on the standalone and consolidated financial statements for the quarter ended December 31, 2025.

 

Profit & loss account

 

• Core operating profit grew by 6.0% year-on-year to ₹ 17,513 crore (US$ 1.9 billion) in Q3-2026 from ₹ 16,516 crore (US$ 1.8 billion) in the quarter ended December 31, 2024 (Q3-2025)
•  
• Net interest income (NII) increased by 7.7% year-on-year to ₹ 21,932 crore (US$ 2.4 billion) in Q3-2026 from ₹ 20,371 crore (US$ 2.3 billion) in Q3-2025. Net interest margin was 4.30% in Q3-2026 compared to 4.25% in Q3-2025 and 4.30% in Q2-2026
•  
• Non-interest income, excluding treasury, increased by 12.4% year-on-year to ₹ 7,525 crore (US$ 837 million) in Q3-2026 from ₹ 6,697 crore (US$ 745 million) in Q3-2025
•  
• Fee income grew by 6.3% year-on-year to ₹ 6,572 crore (US$ 731 million) in Q3-2026 from ₹ 6,180 crore (US$ 688 million) in Q3-2025. Fees from retail, rural and business banking customers constituted about 78% of total fees in Q3-2026
•  
• Operating expenses increased by 13.2% year-on-year to ₹ 11,944 crore (US$ 1.3 billion) in Q3-2026 from ₹ 10,552 crore (US$ 1.2 billion) in Q3-2025. This includes ₹ 145 crore (US$ 16 million) of provisions on an estimated basis pursuant to the new Labour Codes
•  
• There was a treasury loss of ₹ 157 crore (US$ 17 million) in Q3-2026 as compared to gain of ₹ 371 crore (US$ 41 million) in Q3-2025 primarily reflecting market movements
•  
• Provisions (excluding provision for tax) were ₹ 2,556 crore (US$ 284 million) in Q3-2026 compared to ₹ 1,227 crore (US$ 137 million) in Q3-2025
  
  • Following its annual supervisory review, RBI has directed the Bank to make a standard asset provision of ₹ 1,283 crore (US$ 143 million) in respect of a portfolio of agricultural priority sector credit facilities wherein the terms of the facilities were found to be not fully compliant with the regulatory requirements for classification as agricultural priority sector lending. There is no change in asset classification or in the terms and conditions applicable to the borrowers or in the repayment behaviour of borrowers as per these terms. This additional standard asset provision will continue until the loans are repaid or renewed in conformity with the PSL classification guidelines
•  
• Profit before tax excluding treasury was ₹ 14,957 crore (US$ 1.7 billion) in Q3-2026 compared to ₹ 15,289 crore (US$ 1.7 billion) in Q3-2025
•  
• Profit before tax was ₹ 14,800 crore (US$ 1.6 billion) in Q3-2026 compared to ₹ 15,660 crore (US$ 1.7 billion) in Q3-2025
•  
• Profit after tax was ₹ 11,318 crore (US$ 1.3 billion) in Q3-2026 compared to ₹ 11,792 crore (US$ 1.3 billion) in Q3-2025

 

Credit growth

 

The net domestic advances grew by 11.5% year-on-year and 4.0% sequentially at December 31, 2025 compared to 10.6% and 3.3% at September 30, 2025. The retail loan portfolio grew by 7.2% year-on-year and 1.9% sequentially, and comprised 51.2% of the total loan portfolio at December 31, 2025. Including non-fund outstanding, the retail portfolio was 42.2% of the total portfolio at December 31, 2025. The business banking portfolio grew by 22.8% year-on-year and 4.7% sequentially at December 31, 2025. The rural portfolio grew by 4.9% year-on-year and 7.2% sequentially at December 31, 2025. The domestic corporate portfolio grew by 5.6% year-on-year and 6.5% sequentially at December 31, 2025. Total advances increased by 11.5% year-on-year and 4.1% sequentially to ₹ 14,66,154 crore (US$ 163.1 billion) at December 31, 2025.

 

Deposit growth

 

Average deposits increased by 8.7% year-on-year and 1.8% sequentially to ₹ 15,86,088 crore (US$ 176.5 billion) in Q3-2026. Average current and savings account deposits increased by 8.9% year-on-year and 1.5% sequentially in Q3-2026. Total period-end deposits increased by 9.2% year-on-year to ₹ 16,59,611 crore (US$ 184.7 billion) at December 31, 2025 (₹ 16,12,825 crore (US$ 179.5 billion) at September 30, 2025).

 

With the addition of 402 branches during 9M-2026, the Bank had a network of 7,385 branches and 11,983 ATMs & cash recycling machines at December 31, 2025.

 

Asset quality

 

The gross NPA ratio was 1.53% at December 31, 2025 compared to 1.58% at September 30, 2025  and 1.96% at December 31, 2024. The net NPA ratio was 0.37% at December 31, 2025 compared to 0.39% at September 30, 2025 and 0.42% at December 31, 2024. The gross NPA additions were ₹ 5,356 crore (US$ 596 million) in Q3-2026 compared to ₹ 6,085 crore (US$ 677 million) in Q3-2025. The Bank typically witnesses higher NPA additions from the kisan credit card portfolio in the first and third quarter of a fiscal year. Recoveries and upgrades of NPAs, excluding write-offs and sale, were ₹ 3,282 crore (US$ 365 million) in Q3-2026 compared to ₹ 3,392 crore (US$ 377 million) in Q3-2025. The net additions to gross NPAs, excluding write-offs and sale, were ₹ 2,074 crore (US$ 231 million) in Q3-2026 compared to ₹ 2,693 crore (US$ 300 million) in Q3-2025. The Bank has written-off gross NPAs amounting to ₹ 2,046 crore (US$ 228 million) in Q3-2026. The provisioning coverage ratio on non-performing loans was 75.4% at December 31, 2025.

 

Excluding NPAs, the total fund based outstanding to all borrowers under resolution as per the various extant regulations/guidelines were ₹ 1,666 crore (US$ 185 million) or about 0.1% of total advances at December 31, 2025.

 

The loan and non-fund based outstanding to performing corporate borrowers rated BB and below was ₹ 3,392 crore (US$ 377 million) at December 31, 2025.

 

At December 31, 2025, the Bank holds total provisions, other than specific provisions on fund-based outstanding to borrowers classified as non-performing, amounting to ₹ 22,657 crore (US$ 2.5 billion) or 1.5% of loans. These provisions include the contingency provisions of ₹ 13,100 crore (US$ 1.5 billion) as well as general provision on standard assets, provisions held for non-fund based outstanding to borrowers classified as non-performing, loan and non-fund based outstanding to standard borrowers under resolution and the BB and below portfolio. These provisions do not include additional standard asset provision as directed by RBI in respect of a portfolio of agricultural priority sector credit facilities.

 

Capital adequacy

 

Including profits for the nine months ended December 31, 2025 (9M-2026), the Bank’s total capital adequacy ratio at December 31, 2025 was 17.34% and CET-1 ratio was 16.46% compared to the minimum regulatory requirements of 11.70% and 8.20% respectively.

 

Consolidated results

 

The consolidated profit after tax was ₹ 12,538 crore (US$ 1.4 billion) in Q3-2026 compared to ₹ 12,883 crore (US$ 1.4 billion) in Q3-2025.

 

Consolidated assets grew by 8.8% year-on-year to ₹ 27,53,471 crore (US$ 306.4 billion) at December 31, 2025 from ₹ 25,31,488 crore (US$ 281.7 billion) at December 31, 2024.

 

Key subsidiaries  

 

The annualised premium equivalent of ICICI Prudential Life Insurance (ICICI Life) was ₹ 6,811 crore (US$ 758 million) in 9M-2026 compared to ₹ 6,905 crore (US$ 768 million) in 9M-2025. Value of New Business (VNB) of ICICI Life increased to ₹ 1,664 crore (US$ 185 million) in 9M-2026 from ₹ 1,575 crore (US$ 175 million) in 9M-2025. The VNB margin was 24.4% in 9M-2026 compared to 22.8% in FY2025 and 9M-2025. The profit after tax increased to ₹ 992 crore (US$ 110 million) in 9M-2026 from ₹ 803 crore (US$ 89 million) in 9M-2025 and ₹ 390 crore (US$ 43 million) in Q3-2026 from ₹ 326 crore (US$ 36 million) in Q3-2025.

 

The Gross Direct Premium Income (GDPI) of ICICI Lombard General Insurance Company (ICICI General) increased to ₹ 7,041 crore (US$ 783 million) in Q3-2026 from ₹ 6,214 crore (US$ 691 million) in Q3-2025. The combined ratio stood at 104.5% in Q3-2026 compared to 102.7% in Q3-2025. The profit after tax of ICICI General was ₹ 659 crore (US$ 73 million) in Q3-2026 compared to ₹ 724 crore (US$ 81 million) in Q3-2025.

 

The profit after tax of ICICI Prudential Asset Management Company, as per Ind AS, was ₹ 917 crore (US$ 102 million) in Q3-2026 compared to ₹ 632 crore (US$ 70 million) in Q3-2025.

 

The profit after tax of ICICI Securities, on a consolidated basis, as per Ind AS, was ₹ 475 crore (US$ 53 million) in Q3-2026 compared to ₹ 504 crore (US$ 56 million) in Q3-2025.

 

The profit after tax of ICICI Home Finance, as per Ind AS, was ₹ 195 crore (US$ 22 million) in Q3-2026 compared to ₹ 203 crore (US$ 23 million) in Q3-2025.

 

 

 

	FY2025	Q3-2025		9M-2025		Q2-2026		Q3-2026		9M-2026
	Audited	Unaudited		Unaudited		Unaudited		Unaudited		Unaudited
Net interest income	81,165	20,371		59,972		21,529		21,932		65,096
Non-interest income	26,603	6,697		19,582		7,356		7,525		22,145
- Fee income	23,870	6,180		17,564		6,491		6,572		18,963
- Dividend income from subsidiaries	2,619	509		1,944		810		681		2,827
- Other income	114	8		74		55		272		355
Less:
Operating expense	42,372	10,552		31,583		11,807		11,9441		35,1451
Core operating profit2	65,396	16,516		47,971		17,078		17,513		52,096
Provisions	4,6833	1,227		3,792		914		2,5564		5,2844
Profit before tax excl. treasury	60,713	15,289		44,179		16,164		14,957		46,812
Treasury income	1,903	371		1,664		220		(157)		1,304
Profit before tax	62,616	15,660		45,843		16,384		14,800		48,116
Less:
Provision for taxes	15,389	3,868		11,246		4,025		3,482		11,671
Profit after tax	47,227	11,792		34,597		12,359		11,318		36,445

1.  
2. Includes the impact of ₹145 crore (US$ 16 million) towards estimated additional provisions for employee expenses pursuant to the new Labour Codes
3.  
4. Excluding treasury
5.  
6. The Bank, on a prudent basis, continues to hold provision against the security receipts guaranteed by the Government, which will be reversed on actual receipt of recoveries or approval of claims, if any.
7.  
8. Following its annual supervisory review, Reserve Bank of India has directed the Bank to make a standard asset provision of ₹ 1,283 crore (US$ 143 million) in respect of a portfolio of agricultural priority sector credit facilities wherein the terms of the facilities were found to be not fully compliant with the regulatory requirements for classification as agricultural priority sector lending
9.  
10. Prior period numbers have been re-arranged wherever necessary
11.  

 

 

	31-Dec-24	31-Mar-25		30-Sep-25		31-Dec-25
	Unaudited	Audited		Unaudited		Unaudited
Capital and liabilities
Capital	1,412	1,425		1,429		1,430
Employee stock options outstanding	1,802	2,070		2,317		2,499
Reserves and surplus	2,68,429	2,88,582		3,07,696		3,19,205
Deposits	15,20,309	16,10,348		16,12,825		16,59,611
Borrowings (includes subordinated debt)	1,27,731	1,23,538		1,11,818		1,12,335
Other liabilities and provisions1	93,660	92,277		1,00,186		95,511
Total capital and liabilities	20,13,343	21,18,240		21,36,271		21,90,591
Assets
Cash and balances with Reserve Bank of India	75,780	1,19,928		79,472		63,669
Balances with banks and money at call and short notice	67,635	65,634		57,209		82,670
Investments	4,71,978	5,04,7572		4,99,592		4,94,6423
Advances	13,14,366	13,41,766		14,08,456		14,66,154
Fixed assets	11,922	12,839		13,273		13,574
Other assets	71,662	73,316		78,269		69,882
Total assets	20,13,343	21,18,240		21,36,271		21,90,591

1.  
2. The Bank continues to hold contingency provision of ₹ 13,100 crore (US$ 1.5 billion) at December 31, 2025
3.  
4. Pursuant to the Scheme of Arrangement amongst ICICI Bank Limited and ICICI Securities Limited and their respective shareholders, ICICI Securities Limited has been delisted from stock exchanges on March 24, 2025 and became a wholly-owned subsidiary of the Bank.
5.  
6. The Bank purchased 2% additional shareholding in ICICI Prudential AMC from Prudential Corporation Holdings Limited for a consideration of ₹ 2,140 crore (US$ 238 million) and infused ₹ 500 crore (US$56 million) in ICICI Home Finance
7.  
8. Prior period figures have been re-grouped/re-arranged wherever necessary

 

Certain definitions in this release relating to a future period of time (including inter alia concerning our future business plans or growth prospects) are forward-looking statements intended to qualify for the 'safe harbor' under applicable securities laws including the US Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. These risks and uncertainties include, but are not limited to statutory and regulatory changes, international economic and business conditions, political or economic instability in the jurisdictions where the Bank has operations or which affect global or Indian economic conditions, increase in nonperforming loans, unanticipated changes in interest rates, foreign exchange rates, equity prices or other rates or prices, our growth and expansion in business, the adequacy of our allowance for credit losses, the actual growth in demand for banking products and services, investment income, cash flow projections, our exposure to market risks, changes in India’s sovereign rating, as well as other risks detailed in the reports filed by us with the United States Securities and Exchange Commission. Any forward-looking statements contained herein are based on assumptions that the Bank believes to be reasonable as of the date of this release. ICICI Bank undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov

 

This release does not constitute an offer of securities.

 

For further press queries please email Sujit Ganguli / Kausik Datta at sujit.ganguli@icicibank.com / datta.kausik@icicibank.com or corporate.communications@icicibank.com

 

For investor queries please email Abhinek Bhargava at abhinek.bhargava@icicibank.com or Nitesh Kalantri at nitesh.kalantri@icicibank.com or ir@icicibank.com.

1 crore = 10.0 million

 

US$ amounts represent convenience translations at US$1= ₹ 89.88