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    Nitin Aggarwal • Motilal Oswal Financial Services

    Nitin Aggarwal's questions to ICICI Bank Ltd (IBN) leadership

    Nitin Aggarwal's questions to ICICI Bank Ltd (IBN) leadership • Q1 2026

    Question

    Nitin Aggarwal from Motilal Oswal questioned the drivers behind the sharp 15 basis point decline in cost of deposits, the growth outlook for the unsecured retail segment, and the measures in place to ensure asset quality in the fast-growing business banking portfolio.

    Answer

    Anindya Banerjee, Group CFO, attributed the lower cost of deposits to savings rate cuts and a runoff of higher-cost wholesale deposits. He acknowledged the bank could improve growth in personal loans and credit cards. For business banking, he emphasized continuous monitoring and noted that while currently benign, credit costs may rise slightly but the portfolio remains granular and tightly managed.

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    Nitin Aggarwal's questions to ICICI Bank Ltd (IBN) leadership • Q1 2026

    Question

    Nitin Aggarwal from Motilal Oswal Financial Services Ltd. questioned the reasons for the sharp decline in cost of deposits, the growth outlook for the unsecured retail segment, and the measures in place to maintain asset quality in the fast-growing business banking portfolio.

    Answer

    Anindya Banerjee, Group CFO, attributed the lower deposit costs to savings rate cuts and a reduction in the wholesale deposit book, noting some benefits will continue. He acknowledged that the bank can improve growth in personal loans and credit cards. For business banking, he stated the portfolio is granular, tightly monitored, and currently exhibits benign asset quality with negligible credit costs.

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    Nitin Aggarwal's questions to ICICI Bank Ltd (IBN) leadership • Q4 2025

    Question

    Nitin Aggarwal from Motilal Oswal Financial Services inquired about the bank's comfort level with asset quality, especially in unsecured retail products, the outlook for loan growth drivers, and the bank's current status on Priority Sector Lending (PSL) compliance.

    Answer

    Executive Anindya Banerjee conveyed comfort with asset quality, noting that corporate and secured retail portfolios are performing well, while NPL formation in the unsecured segment has stabilized. He anticipates continued healthy growth in business banking and a potential bottoming out of the growth moderation in unsecured loans. Regarding PSL, he confirmed the bank meets overall targets but addresses sub-category shortfalls through buyouts or PSLCs.

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    Nitin Aggarwal's questions to ICICI Bank Ltd (IBN) leadership • Q1 2025

    Question

    Nitin Aggarwal from Motilal Oswal inquired about the asset quality outlook for the credit card portfolio, its current credit cost versus long-term averages, the reason for the quarterly decline in yield on advances, and the components of the higher treasury gains.

    Answer

    Executive Anindya Banerjee explained that the credit card portfolio is a growth area and represents less than 5% of the loan book. He stated that overall credit costs are normalizing around 50 bps, which is better than historical levels. The yield decline was attributed to the non-accrual impact from the KCC portfolio and competitive lending rates. Treasury gains included proprietary trading, security receipt redemptions, and positive mark-to-market impacts under new accounting guidelines.

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    Nitin Aggarwal's questions to ICICI Bank Ltd (IBN) leadership • Q4 2024

    Question

    Nitin Aggarwal of Motilal Oswal asked if Net Interest Margins (NIMs) have bottomed out and about the impact of a delayed rate cut cycle. He also questioned the moderation in high-rated corporate exposures and the bank's view on competitive intensity.

    Answer

    Executive Director Anindya Banerjee responded that while some further NIM moderation is possible from deposit costs, he expects margins to be range-bound until a rate cut. He viewed a delayed rate cut cycle as having a minor timing impact. The shift in the corporate rating profile was attributed to growth in business banking and shedding some finely-priced exposures, with which the bank is comfortable. He also noted some moderation in competitive lending intensity last quarter.

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