ICICI Bank, India's second-largest private sector lender, has reported a 4% year-on-year (YoY) decline in its standalone net profit for the third quarter of fiscal year 2026, reaching ₹11,317.86 crore. This figure is below the ₹12,346 crore estimate projected by ET Now.
The bank's net interest income (NII) saw a 7.7% increase, climbing to ₹21,932 crore from ₹20,371 crore in the corresponding quarter of the previous year.
The bank's provisions increased to ₹2,556 crore, compared to ₹1,227 crore year-over-year and ₹914 crore quarter-over-quarter.
Key asset quality indicators showed improvement. The gross non-performing asset (NPA) ratio decreased to 1.53% compared to 1.58% in the previous quarter. Similarly, the net NPA ratio fell to 0.37% from 0.39% quarter-over-quarter.
Analysts had varying expectations for ICICI Bank's Q3 performance. BNP Paribas anticipated a net profit growth of 3.6% YoY, estimating the bottom line at ₹12,218.8 crore. JM Financial Institutional Equities were even more cautious, projecting a 1.3% YoY net profit increase to ₹11,950 crore. Nomura, however, expected a 6% YoY growth in profit after tax (PAT), forecasting ₹12,500 crore.
Net interest margin (NIM) is projected at 4.29%, an improvement of 4 basis points compared to 4.25% last year.
Despite the profit decline, ICICI Bank's core operating profit saw a 6.0% YoY increase, reaching ₹17,513 crore.
In comparison, HDFC Bank, another major player in the private sector, is expected to post an NII increase of 7.36% and a net profit growth of 9.8% for the same quarter. IDBI Bank, on the other hand, reported a 24% decline in NII but a 1.4% increase in profit.
