ICICI Bank Ltd.Pre-Treasury Profit Up 21%, Loans Up 20%

ICICI Bank reported a strong Q1 FY27, with profit before tax excluding treasury up 20.9% year on year to ₹18,975 Cr and profit after tax up 15.9% to ₹14,805 Cr.

Net interest income grew 12.7% and fee income 23.5%, while net interest margin edged up to 4.36%, including 8 bps from interest on tax refunds. Total loans grew 19.6%, led by rural at 35.4%, business banking at 28.2% and domestic corporate at 18.5%, while deposits grew 14.0%. Net NPA was 0.35% and provisions were only 0.32% of average advances, though management called roughly 50 bps the normalised credit cost. It guided FY27 margin to stay range-bound and set no loan growth targets.

On the RBI's FCNR(B) deposit programme it declined to share any amount, saying numbers will come with Q2 results, and warned of slight margin dilution. ECL from April 2027 is expected to be absorbed by buffers, and an agriculture provision write-back has no timeline. ICICI Life's new-business margin improved to 26.7%, while ICICI General's combined ratio rose to 107.2%.