ICICI Bank reported a 15.9% year-on-year increase in profit after tax to ₹148.05 billion for the quarter ended June 30, 2026. The lender’s advances expanded by 19.6% to ₹16,312.60 billion, supported by robust growth in business banking and retail segments.

The board recommended a final dividend of ₹12 per share for FY26 during its 32nd Annual General Meeting on August 21, 2026. This payout follows a full-year PAT of ₹501.47 billion for FY26, which marked a continuation of the bank’s disciplined execution strategy.

Financial Performance

Profit before tax excluding treasury grew by 20.9% year-on-year to ₹189.75 billion in Q1FY27. For the full fiscal year FY26, profit before tax excluding treasury stood at ₹650.21 billion, compared to ₹607.13 billion in FY25. Profit after tax for FY26 was ₹501.47 billion, up from ₹472.27 billion in the prior year.

Balance Sheet Growth

Total period-end deposits reached ₹18,335.86 billion at June 30, 2026, reflecting a 14.0% year-on-year growth. Average deposits for the quarter also rose by 14.0% to ₹17,480.28 billion. At the end of FY26, total deposits stood at ₹17,946.25 billion, with term deposits constituting 58.6% of the mix.

Advances showed stronger momentum, growing by 19.6% year-on-year to ₹16,312.60 billion at June 30, 2026. Domestic advances specifically increased by 18.8% to ₹15,809.85 billion. In FY26, total advances were ₹15,538.93 billion, with retail loans accounting for 50.5% of the portfolio.

Asset Quality and Capital

Asset quality remained stable with a net NPA ratio of 0.35% at June 30, 2026. The provision coverage ratio was recorded at 74.7%. Gross NPAs had declined steadily over the past four years, reaching ₹230.52 billion at the end of FY26 from ₹339.20 billion in FY22.

The bank maintained a healthy capital position with a Common Equity Tier 1 (CET-1) ratio of 16.19% and a total capital adequacy ratio of 16.84% at the end of Q1FY27. These figures include profits for the quarter. At the end of FY26, the CET-1 ratio was 16.35% after reckoning the impact of the proposed dividend.

What the Numbers Show

The divergence between deposit growth (14.0%) and advance growth (19.6%) in Q1FY27 suggests an aggressive credit expansion phase. With business banking’s share of the loan book rising to 21.1% in FY26 from 14.5% in FY22, the bank is shifting its risk profile toward smaller corporate segments while maintaining low asset quality ratios.

ESG Initiatives

ICICI Bank increased renewable energy usage in its total electricity consumption to 48% in FY26, up from 38% in FY25. The bank continues to progress toward carbon neutrality in Scope 1 and 2 emissions. Over 19.8 million individuals benefited from CSR initiatives in healthcare and livelihood development as of March 31, 2026.

ICICI Bank priced USD 750 million in senior unsecured fixed rate notes through its International Financial Services Centre (IFSC) Banking Unit. The issuance, executed under the bank’s USD 7.5 billion Global Medium Term Note Programme, was completed at 1:39 am IST on August 18, 2026.

The five-year notes carry a coupon rate of 5.417% and are scheduled to mature on August 21, 2031. Interest payments will be made semi-annually on February 21 and August 21 each year until maturity. The securities are unsecured and rank equally with other unsecured obligations of the issuer.

Deal Structure and Listing

The notes were issued as 144A/RegS Registered, Category 2 drawdowns. ICICI Bank plans to list the instruments on multiple international platforms to enhance liquidity and investor access. The proposed listing venues include:

• Global Securities Market of the India International Exchange IFSC Limited
• Debt Securities Market of the NSE IFSC Limited
• SGX-ST (Singapore Exchange Securities Trading)

Use of Proceeds

The net proceeds from the USD 750 million issue will be utilized for general corporate purposes in accordance with relevant regulatory guidelines. The bank disclosed no specific project-linked allocation for this tranche, indicating flexibility in deploying the capital across its balance sheet needs.

What the Numbers Show

The pricing of these notes at a 5.417% coupon reflects the bank’s continued access to international debt markets. By utilizing its IFSC unit for the issuance, ICICI Bank leverages India’s emerging international financial hub structure to tap into offshore liquidity. The decision to list on both Indian IFSC exchanges and Singapore’s SGX-ST suggests a strategy to diversify its investor base across Asian markets while maintaining domestic regulatory compliance.