ICICI Bank Q1FY27 Results: Net Profit ₹14,804 Crore, Appoints Mrugank Paranjape as Director
ICICI Bank reported a standalone net profit of ₹14,804.50 crore for Q1FY27. Consolidated net profit was ₹15,440.06 crore. The bank approved the appointment of Mr. Mrugank Paranjape as Non-executive Independent Director from August 1, 2026, to July 31, 2031. The revised notice for the AGM on August 21, 2026, includes this resolution. The borrowing limit for overseas markets was revised to USD 2.50 billion.
The announcement includes quarterly financial results, a significant directorial appointment, and a revised borrowing limit, all of which are material to investors and the company's future operations.
The bank reported strong financial results with increased profits and approved a key directorial appointment and revised borrowing limits, indicating positive operational and strategic developments.
ICICI Bank Limited announced its unaudited financial results for the quarter ended June 30, 2026, at a Board meeting held on July 18, 2026. The Bank reported a standalone net profit of ₹14,804.50 crore for the quarter. Total income for the standalone operations stood at ₹54,246.84 crore, with interest earned at ₹45,670.78 crore and other income at ₹8,576.06 crore. Interest expended was ₹21,286.43 crore, leading to an operating profit before provisions of ₹20,386.07 crore. Provisions and contingencies amounted to ₹1,260.45 crore.
Consolidated net profit for the quarter was ₹15,440.06 crore. Total consolidated income was ₹79,689.22 crore, with interest earned at ₹52,240.85 crore and other income at ₹27,448.37 crore. Operating profit before provisions stood at ₹22,604.33 crore, while provisions and contingencies were ₹1,297.20 crore.
The Board also approved the appointment of Mr. Mrugank Paranjape as a Non-executive Independent Director for a term from August 1, 2026, to July 31, 2031, subject to shareholder approval. Consequently, the notice for the 32nd Annual General Meeting, scheduled for Friday, August 21, 2026, was revised to include this resolution.
Furthermore, the Bank received approval to undertake borrowing by issuing bonds/notes/offshore Certificates of Deposits in overseas markets for a revised limit of up to USD 2.50 billion. The Board meeting commenced at 9:55 a.m. and concluded at 1:58 p.m.
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