ICICI Bank Q2 Profit Rises 20.1% as Margin Narrows

ICICI Bank reported a 20.1% year-over-year rise in standalone net profit for the second quarter of fiscal 2027, as higher net interest income and improved asset quality accompanied a decline in its net interest margin. The bank’s results, approved by its board on October 17, showed net profit of ₹14,843 crore, compared with ₹12,359 crore a year earlier. Net interest income, the difference between interest earned on loans and paid on deposits, increased 17.7% to ₹25,339 crore from ₹21,529 crore. The bank’s net interest margin was 4.18% in the quarter ended September 30, down from 4.36% in the first quarter of fiscal 2027 and 4.30% a year earlier. Gross nonperforming assets fell to 1.20% of loans as of September 30, from 1.38% at the end of June and 1.58% a year earlier. Net nonperforming assets were 0.30% of advances, according to the bank’s results. The bank reported total provisions of ₹23,815 crore, including contingency provisions of ₹13,100 crore. Total advances grew 30% year over year to ₹18.32 lakh crore. Excluding lending by international branches against foreign currency nonresident deposits, known as FCNR-B deposits, loan growth was 24.1%. Domestic advances increased...