ICICI BANK (IBN) Company Report

Analyst Coverage

Research analysts who have asked questions during ICICI BANK earnings calls.

Kunal Shah

Citigroup

6 questions for IBN

Also covers: HDB, HDFCBANK

Mahrukh Adajania

Nuvama Institutional Equities

6 questions for IBN

Also covers: HDB, HDFCBANK

Piran Engineer

CLSA

6 questions for IBN

Also covers: HDB

Nitin Aggarwal

Motilal Oswal Financial Services

5 questions for IBN

Harsh Modi

JPMorgan Chase & Co.

4 questions for IBN

Also covers: HDB

M. B. Mahesh

Kotak Securities

3 questions for IBN

Also covers: HDB, HDFCBANK

Anand Swaminathan

Bank of America

2 questions for IBN

Also covers: HDB

Chintan Joshi

Autonomous Research

2 questions for IBN

Also covers: HDB, HDFCBANK

Parameswaran Subramanian

Investec

2 questions for IBN

Also covers: HDB

Abhishek Murarka

HSBC

1 question for IBN

Also covers: HDB, HDFCBANK

Kaitav Shah

Anand Rathi Financial Services

1 question for IBN

Manish Shukla

Axis Capital

1 question for IBN

Also covers: HDB, HDFCBANK

Rahul Jain

Goldman Sachs

1 question for IBN

Also covers: HDB, HDFCBANK

Rikin Shah

IIFL Securities Ltd.

1 question for IBN

Also covers: HDB, HDFCBANK

Latest news

Recent press releases and 8-K filings for IBN.

ICICI Bank receives GST demand order

IBN

Legal Proceedings

ICICI Bank Limited (IBN) received an order on December 17, 2025, for a Goods and Services Tax (GST) demand totaling ₹ 2,379,004,448/-.
The demand includes ₹ 2,162,731,316/- in tax and ₹ 216,273,132/- in penalty, plus applicable interest, related to services provided to customers maintaining specified minimum balances.
The Bank plans to contest the Order through a writ petition or appeal, noting that the aggregate amount involved crosses its materiality threshold.

6 days ago

6-K

ICICI Bank Allots Tier 2 Basel III Compliant Bonds

IBN

Debt Issuance

ICICI Bank Limited has allotted 3,945 unsecured, subordinated, listed, non-convertible, Tier 2, Basel III compliant bonds with a face value of ₹ 10,000,000 each, aggregating to ₹ 39,450 million.
The bonds were issued on a private placement basis with a deemed allotment date of November 28, 2025, a maturity date of November 28, 2040, and a 7.40% coupon rate payable annually.
These bonds are rated "CARE AAA; Stable" by CARE Ratings Limited and "[ICRA] AAA (Stable)" by ICRA Limited, and are proposed to be listed on the National Stock Exchange of India Limited.

Dec 1, 2025, 11:05 AM

6-K

ICICI Bank Limited Announces Q2 2026 Results and Board Changes

IBN

Earnings

Board Change

Management Change

The Board of Directors of ICICI Bank Limited approved the unaudited standalone and consolidated financial results for the quarter and six months ended September 30, 2025.
Standalone profit after tax grew by 5.2% year-on-year to ₹ 12,359 crore (US$ 1.4 billion) in Q2-2026.
Consolidated profit after tax increased by 3.2% year-on-year to ₹ 13,357 crore (US$ 1.5 billion) in Q2-2026.
The domestic loan portfolio grew by 10.6% year-on-year to ₹ 13,75,260 crore (US$ 154.9 billion) at September 30, 2025, with a net NPA ratio of 0.39% at the same date.
The Board approved the appointment of Ms. Vijayalakshmi Iyer as Additional (Independent) Director for a term commencing from December 1, 2025 to May 31, 2030, and Mr. Balaji V.V. will cease to be Senior Management Personnel effective November 1, 2025, due to retirement.

Oct 24, 2025, 10:03 AM

6-K

ICICI Bank Announces Q2 FY2026 Results

IBN

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

ICICI Bank (IBN) reported a profit after tax of INR 123.59 billion, representing a 5.2% year-on-year increase, and a consolidated profit after tax of INR 133.57 billion, up 3.2% year-on-year for Q2 FY2026.
Profit before tax, excluding treasury, grew by 9.1% year-on-year to INR 161.64 billion, while core operating profit increased by 6.5% year-on-year to INR 170.78 billion in this quarter.
The bank's overall loan portfolio, including international branches, grew by 10% year-on-year and 3.2% sequentially, with total deposits increasing by 7.7% year-on-year and 0.3% sequentially as of September 30, 2025.
Net interest income rose by 7.4% year-on-year to INR 215.29 billion, and the net interest margin stood at 4.3% for the quarter.
Asset quality remained strong with a net NPL ratio of 0.39% at September 30, 2025, and the capital position was robust with a CET1 ratio of 16.35% and a total capital adequacy ratio of 17% at September 2025.

Oct 18, 2025, 11:30 AM

Transcript

ICICI Bank Reports Q2 FY2026 Financial Results

IBN

Earnings

Guidance Update

Revenue Acceleration/Inflection

ICICI Bank reported a 5.2% year-on-year increase in profit after tax to INR 123.59 billion for Q2 FY2026, with profit before tax excluding treasury growing 9.1% year-on-year to INR 161.64 billion.
The overall loan portfolio expanded by 10% year-on-year and 3.2% sequentially, with the domestic loan portfolio growing 10.6% year-on-year.
Asset quality showed improvement, with the net NPA ratio decreasing to 0.39% at September 30, 2025, from 0.41% in the prior quarter.
The bank maintained a robust capital position, reporting a CET1 ratio of 16.35% and a total capital adequacy ratio of 17% as of September 30, 2025.
Net interest margin (NIM) for the quarter was 4.30%, and management anticipates margins to remain range-bound over the next two quarters.