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ICICI Bank Q3 Profit Dips 2.7% to ₹12,538 Crore, Asset Quality Improves

ICICI Bank reported a 2.68% year-on-year decline in its consolidated net profit for the December quarter, amounting to ₹12,537.98 crore. The bank's asset quality showed improvement, with both gross and net non-performing assets (NPAs) declining sequentially. In a key development, the board approved the re-appointment of Sandeep Bakhshi as Managing Director and CEO for another two-year term. Despite a recent dip, the bank's stock has gained over 15% in the past year.

Key Points: ICICI Bank Q3 Profit Falls, CEO Sandeep Bakhshi Re-appointed

  • Q3 profit down 2.7% YoY
  • Asset quality improves with lower NPAs
  • Interest income rises marginally to ₹41,966 crore
  • CEO Sandeep Bakhshi re-appointed for 2 more years
2 min read

ICICI Bank's Q3 profit falls to Rs 12,537.98 crore, asset quality improves

ICICI Bank's Q3 profit declines to ₹12,538 crore, but asset quality improves. CEO Sandeep Bakhshi gets board approval for a 2-year re-appointment.

"The board unanimously approved the re-appointment of Sandeep Bakhshi for a further period of two years - ICICI Bank"

Mumbai, Jan 17

ICICI Bank on Saturday reported a 2.68 per cent year-on-year decline in its consolidated net profit for the December quarter.

The bank posted a profit of Rs 12,537.98 crore in the third quarter, compared to Rs 12,883.37 crore in the same period last financial year (Q3 FY25).

On a quarter-on-quarter (QoQ) basis, the bank's profit fell 6.13 per cent from Rs 13,357.06 crore reported in the July-September quarter (Q2) of FY26, according to its stock exchange filing.

During the quarter, ICICI Bank's interest income rose marginally by 1.6 per cent to Rs 41,966 crore, compared to Rs 41,300 crore in the year-ago period.

At the same time, interest expenses declined by 4.3 per cent to Rs 20,034 crore from Rs 20,929 crore last year, it said in its filing.

The bank reported an improvement in asset quality during the quarter. Net non-performing assets declined to 0.37 per cent from 0.39 per cent in the previous quarter, while gross NPAs eased to 1.53 per cent from 1.58 per cent sequentially.

In absolute terms, net NPAs fell to Rs 5,732 crore from Rs 5,872 crore in the second quarter.

Gross NPAs also declined slightly to Rs 23,758 crore from Rs 23,849.7 crore in the previous quarter.

In a separate development, the board of directors approved the re-appointment of Sandeep Bakhshi as Managing Director and Chief Executive Officer of the bank for another two years.

"The board unanimously approved the re-appointment of Sandeep Bakhshi for a further period of two years with effect from October 4, 2026 to October 3, 2028, subject to approval of Reserve Bank of India, shareholders, and such other approvals as may be required," the private lender added.

His new term will be effective from October 4, 2026, to October 3, 2028.

On the stock market, shares of ICICI Bank ended the previous session 0.4 per cent lower at Rs 1,413 apiece.

Despite the recent dip, the stock has gained around 15.3 per cent over the past one year.

- IANS

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Reader Comments

S
Sarah B
As an investor, I'm a bit concerned about the sequential profit drop from Q2. Over 6% down QoQ is not a small number. Interest income growth is also very marginal at 1.6%. Hope this is just a blip and not a trend. The re-appointment of the CEO brings continuity at least.
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Priyanka N
Good to see interest expenses have come down! That's smart cost management. The bank is controlling its liabilities well. Net NPA at 0.37% is among the best in the industry. As a customer, this gives me more confidence in their financial health. 👍
A
Aman W
Profit is still over Rs 12,500 crore! That's a massive amount by any standard. A small percentage decline doesn't worry me when the absolute numbers are so strong. The banking sector overall is doing well, and ICICI remains a pillar.
K
Karthik V
The board re-appointing Sandeep Bakhshi is a positive signal. Consistency in leadership is crucial for executing long-term strategy. His term starting in 2026 shows they are planning well ahead. Hope the focus remains on digital banking and customer service, which has improved a lot.
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Michael C
Looking at the bigger picture, the slight profit dip might be due to increased provisions or investments in technology. If asset quality is improving, that's a trade-off worth making. A healthy balance sheet is more important than a temporary profit spike.

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