ICICI Bank on Saturday reported a 9.3% year-on-year rise in consolidated net profit at ₹14,755 crore for the March quarter, supported by steady growth in core income and a sharp decline in provisions.

The bank had posted a consolidated net profit of ₹13,502 crore in the corresponding quarter last year.

On a standalone basis, the country’s second-largest private sector lender reported an 8.5% increase in net profit at ₹13,702 crore for the quarter ended March 2026, compared with ₹12,630 crore a year earlier.

For the full financial year 2025-26, standalone net profit rose 6.2% to ₹50,147 crore, up from ₹47,227 crore in the previous fiscal.

Core income growth remains steady

The bank reported an 8.4% growth in net interest income (NII) to ₹22,979 crore in the reporting quarter, indicating stable loan growth and margins.

Non-interest income (excluding treasury) increased 5.6% year-on-year to ₹7,415 crore, reflecting moderate traction in fee-based businesses.

However, operating expenses rose at a faster pace, increasing 12% to ₹12,089 crore during the quarter, driven by higher employee and other operating costs.

Sharp decline in provisions boosts profit

A key driver of the earnings growth was a major fall in provisions. The bank’s provisions dropped sharply to ₹96 crore in the March quarter, compared with ₹891 crore in the year-ago period and ₹2,556 crore in the preceding December quarter.

Lower provisioning indicates easing stress on the balance sheet and improved asset quality trends.

ICICI Bank reported further improvement in asset quality metrics during the quarter.

The gross non-performing assets (GNPA) ratio declined to 1.40%, compared with 1.53% in the December quarter and 1.67% in the year-ago period.

Net NPAs also remained under control, reflecting continued recovery and prudent underwriting.

Full-year performance

For the full year, the bank maintained steady profitability. Higher core income and controlled credit costs supported earnings, even as operating expenses saw an uptick.

The bank’s board has recommended a dividend of ₹12 per equity share, subject to shareholder approval at the upcoming annual general meeting.

The shares of ICICI Bank ended 0.54% higher at ₹1,352.80 apiece on the National Stock Exchange on Friday. In the past year, the private lender's stock has declined 4%,  underperforming the Bank Nifty index that has risen over 2% during the same period