ICICI Bank Q1 Results: Core parameters deliver a beat on expectations with strong asset quality

ICICI bank Ltd. reported results for the June quarter on Saturday, July 18, which were strong on the bottomline front, while its core income saw double-digit growth as well compared to last year, also surpassing expectations from the street.

ICICI Bank's Net Profit grew by 16% from last year to ₹14,804 crore, which was well above the CNBC-TV18 poll estimate of ₹13,616 crore.

Net Interest Income, or core income earned by the lender (NII) increased by 12.1% on a year-on-year basis to ₹24,385 crore, also higher than the estimates by the CNBC-TV18 poll of ₹23,689 crore.

Asset quality for ICICI Bank continues to remain among the best within the private banking group, with gross NPA at 1.38% from 1.4% last quarter and Net NPA at 0.35% from 0.33% last quarter.

In absolute terms, ICICI Bank's Gross NPA stood at ₹23,847 crore from ₹23,052 crore last quarter, while Net NPA stood at ₹5,908 crore from ₹5,459.5 crore in March.

Provisions for the quarter saw a sharp jump to ₹1,260 crore from just 96 crore in March, but were sharply lower on a year-on-year basis, as the base quarter had a provision figure of ₹1,814.5 crore.

At the end of the June quarter, ICICI Bank holds total provisions worth ₹22,963 crore, or 1.4% of the total loans.

These provisions include ₹13,100 crore worth of contingency provisions, as well as general provisions on standard assets provisions held for non-fund based outstanding to borrowers classified as nonperforming, loan and non-fund based outstanding to standard borrowers under resolution and the BB and below portfolio.

The lender also has standard asset provisions of ₹1,283 crore made in the third quarter of the previous financial year, in-line with the RBI's agriculture sector priority portfolio, it said in an exchange filing.

ICICI Bank's Net Interest Margins at the end of the June quarter stood at 4.36% at the end of the June quarter compared to 4.32% in March and 4.34% last year.

Shares of ICICI Bank ended 2.5% higher on Friday at ₹1,454. The stock has mostly outperformed its peers so far in 2026 with returns of close to 10% and is also closing in on its 52-week high of ₹1,500.