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ICICI Bank – Q2FY27 first cut

19 Oct 2026, 9:55AM

NII of Rs. 25,339 crore grew 17.7% y-o-y / 3.9% q-o-q, 2.8% ahead of our estimate, driven by strong loan growth; however, NIM fell 18 bps q-o-q to 4.18%, below our expectation of 4.23%.
Operating profit of Rs. 20,575 crore grew 18.9% y-o-y and was in line with our estimate, as healthy fee income made up for a small treasury loss and lower dividend from subsidiaries.
PAT of Rs. 14,843 crore grew 20.1% y-o-y, 3.6% above our estimate, helped by low provisions; GNPA improved 18 bps q-o-q to 1.20% and NNPA eased 5 bps to 0.30%.
Growth is strong, asset quality is clean and the margin dip looks temporary, with management guiding for a recovery from Q4FY27.

Particulars	Q2FY27	Q2FY26	YoY	Q1FY27	QoQ
Net Interest Income	25,339	21,529	17.7%	24,384	3.9%
Other income	8,047	7,576	6.2%	8,576	-6.2%
Net Income	33,386	29,105	14.7%	32,960	1.3%
Opex	12,811	11,807	8.5%	12,574	1.9%
Operating Profit	20,575	17,298	18.9%	20,386	0.9%
Provisions	851	914	-6.9%	1,260	-32.5%
PBT	19,725	16,384	20.4%	19,126	3.1%
Tax	4,882	4,025	21.3%	4,321	13.0%
PAT	14,843	12,359	20.1%	14,805	0.3%

Advances	18,31,580	14,08,456	30.0%	16,31,260	12.3%
Deposits	20,49,874	16,12,825	27.1%	18,33,586	11.8%

NIMs %	4.18	4.30	-12 bps	4.36	-18 bps
GNPA %	1.20	1.58	-38 bps	1.38	-18 bps
NNPA %	1.20	0.39	81 bps	0.35	85 bps
PCR %	75.5	75.6	-2 bps	75.2	32 bps