MUMBAI: ICICI Bank on Saturday reported a 2.68 per cent year-on-year (YoY) decline in its consolidated net profit for the December quarter (Q3 FY26).
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.