SEC Form 6-K filed by ICICI Bank Limited

SUMMARISED CONSOLIDATED BALANCE SHEET

(₹ in crore)

CONSOLIDATED CASH FLOW STATEMENTS

(₹ in crore)

CONSOLIDATED SEGMENTAL RESULTS

(₹ in crore)

Notes on consolidated segmental results:

Independent Auditor’s Report

To the Board of Directors of ICICI Bank Limited

Report on the audit of the Standalone Annual Financial Results

Opinion

We have audited the accompanying standalone annual financial results of ICICI Bank Limited (hereinafter referred to as ‘the Bank’) for the year ended 31 March 2025, attached herewith, being submitted by the Bank pursuant to the requirement of Regulation 33 and Regulation 52(4) read with Regulation 63 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations”).

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone annual financial results:

Basis for opinion

We conducted our audit in accordance with the Standards on Auditing (“SAs”) specified under section 143(10) of the Companies Act, 2013 (“the Act”). Our responsibilities under those SAs are further described in the Auditor’s Responsibilities for the Audit of the Standalone Annual Financial Results section of our report. We are independent of the Bank, in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the standalone annual financial results, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us, is sufficient and appropriate to provide a basis for our opinion on the standalone annual financial results.

Management’s and Board of Directors’ Responsibilities for the Standalone Annual Financial Results

These standalone annual financial results have been prepared on the basis of the standalone annual financial statements.

The Bank’s Management and the Board of Directors are responsible for the preparation and presentation of these standalone annual financial results that give a true and fair view of the net profit and other financial information in accordance with the recognition and measurement principles laid down in Accounting Standards prescribed under Section 133 of the Act read with relevant rules issued thereunder in so far as they apply to banks, the relevant provisions of the Banking Regulation Act, 1949, the RBI Guidelines and other accounting principles generally accepted in India and in compliance with Regulation 33 and Regulation 52(4) read with Regulation 63 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act and the RBI guidelines for safeguarding of the assets of the Bank and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone annual financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the standalone annual financial results, the Management and the Board of Directors are responsible for assessing the Bank’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Bank or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are responsible for overseeing the Bank’s financial reporting process.

Auditor’s Responsibilities for the Audit of the Standalone Annual Financial Results

Our objectives are to obtain reasonable assurance about whether the standalone annual financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these standalone annual financial results.

Auditor’s Responsibilities for the Audit of the Standalone Annual Financial Results (Continued)

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

Other Matters

Independent Auditor’s Report

To the Board of Directors of ICICI Bank Limited

Report on the audit of the Consolidated Annual Financial Results

Opinion

We have audited the accompanying consolidated annual financial results of ICICI Bank Limited (hereinafter referred to as the “Bank”) and its subsidiaries (Bank and its subsidiaries together referred to as “the Group”), and its associates for the year ended 31 March 2025, attached herewith, being submitted by the Bank pursuant to the requirement of Regulation 33 and Regulation 52(4) read with Regulation 63 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations"), except for the disclosures prescribed by the Reserve Bank of India (the 'RBI') relating to consolidated Pillar 3 disclosures as at 31 March 2025, including leverage ratio, liquidity coverage ratio and net stable funding ratio under Basel III Capital Regulations as have been disclosed on the Bank's website and in respect of which a link has been provided in Note 8 to the Statement and have not been audited by us.

In our opinion and to the best of our information and according to the explanations given to us and based on the consideration of reports of other auditors on separate / consolidated audited financial information of the subsidiaries and associates, the aforesaid consolidated annual financial results:

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (“SAs”) specified under section 143(10) of the Companies Act, 2013 (“the Act”). Our responsibilities under those SAs are further described in the Auditor’s Responsibilities for the Audit of the Consolidated Annual Financial Results section of our report. We are independent of the Group and its associates in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the consolidated annual financial results, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us, along with the consideration of reports of the other auditors referred to in sub paragraph no.(a) and (b) of the “Other Matters” paragraph below, is sufficient and appropriate to provide a basis for our opinion on the consolidated annual financial results.

Management’s and Board of Directors’ Responsibilities for the Consolidated Annual Financial Results

These consolidated annual financial results have been prepared on the basis of the consolidated annual financial statements.

The Bank’s Management and the Board of Directors are responsible for the preparation and presentation of these consolidated annual financial results that give a true and fair view of the consolidated net profit and other financial information of the Group including its associates in accordance with the recognition and measurement principles laid down in Accounting Standards prescribed under Section 133 of the Act read with relevant rules issued thereunder in so far as they apply to banks, the relevant provisions of the Banking Regulation Act, 1949, the RBI Guidelines and guidelines issued by Insurance Regulatory and Development Authority of India (“IRDAI guidelines”), as applicable, and other accounting principles generally accepted in India and in compliance with Regulation 33 and Regulation 52(4) read with Regulation 63 of the Listing Regulations. The respective Management and Board of Directors of the companies included in the Group and of its associates are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act and the RBI guidelines for safeguarding of the assets of each company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the consolidated annual financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the consolidated annual financial results by the Management and the Board of Directors of the Bank, as aforesaid.

In preparing the consolidated annual financial results, the respective Management and the Board of Directors of the companies included in the Group and of its associates are responsible for assessing the ability of each company to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

The respective Board of Directors of the companies included in the Group and of its associates is responsible for overseeing the financial reporting process of each company.

Auditor’s Responsibilities for the Audit of the Consolidated Annual Financial Results

Our objectives are to obtain reasonable assurance about whether the consolidated annual financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated annual financial results.

Auditor’s Responsibilities for the Audit of the Consolidated Annual Financial Results (contd.)

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

We communicate with those charged with governance of the Bank and such other entities included in the consolidated annual financial results of which we are the independent auditors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

Auditor’s Responsibilities for the Audit of the Consolidated Annual Financial Results (contd.)

We also performed procedures in accordance with the circular No CIR/CFD/CMD1/44/2019 issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.

Other Matters

Other Matters (contd.)

Our opinion on the consolidated annual financial results is not modified in respect of the above matter with respect to our reliance on the work done and the reports of the other auditors and the financial information certified by the Board of Directors.

Our opinion is not modified in respect of this matter.

The statutory auditors of ICICI Lombard General Insurance Company Limited (‘ICICI General’), vide their audit report dated 15 April 2025, have expressed an unmodified opinion and have reported in the ‘Other Matter’ section that, ‘The actuarial valuation of liabilities in respect of Incurred But Not Reported (‘IBNR’), Incurred But Not Enough Reported (‘IBNER’) and the Premium Deficiency Reserve (‘PDR’) is the responsibility of the Company’s Appointed Actuary (the ‘Appointed Actuary’). The actuarial valuation of these liabilities, that are estimated using statistical methods as at 31 March 2025 has been duly certified by the Appointed Actuary and in his opinion, the assumptions considered by him for such valuation are in accordance with the guidelines and norms issued by the IRDAI and the Institute of Actuaries of India in concurrence with IRDAI. The joint auditors have relied upon the Appointed Actuary’s certificate in this regard for forming their opinion on the valuation of liabilities for outstanding claims reserves and the PDR contained exists in the financial statements of the Company’.

Our opinion is not modified in respect of this matter.

Other Matters (contd.)

 

Page 6 of 7

B S R & Co. LLP	C N K & Associates LLP
Chartered Accountants	Chartered Accountants

Annexure I

 

List of entities included in consolidated annual financial results.

 

Sr. No	Name of component	Relationship
1	ICICI Bank Limited	Parent Entity
2	ICICI Prudential Life Insurance Company Limited	Subsidiary
3	ICICI Lombard General Insurance Company Limited	Subsidiary
4	ICICI Prudential Asset Management Company Limited	Subsidiary
5	ICICI Prudential Trust Limited	Subsidiary
6	ICICI Bank UK PLC	Subsidiary
7	ICICI Bank Canada	Subsidiary
8	ICICI Securities Limited	Subsidiary
9	ICICI Securities Holdings Inc.	Subsidiary
10	ICICI Securities Inc.	Subsidiary
11	ICICI Securities Primary Dealership Limited	Subsidiary
12	ICICI Venture Funds Management Company Limited	Subsidiary
13	ICICI Home Finance Company Limited	Subsidiary
14	ICICI Trusteeship Services Limited	Subsidiary
15	ICICI Investment Management Company Limited	Subsidiary
16	ICICI International Limited	Subsidiary
17	ICICI Prudential Pension Funds Management Company Limited	Subsidiary
18	I-Process Services (India) Private Limited	Subsidiary
19	ICICI Strategic Investments Fund	Subsidiary
20	FISERV Merchant Solutions Private Limited (erstwhile ICICI Merchant Services Private Limited)	Associate
21	NIIT Institute of Finance Banking and Insurance Training Limited	Associate
22	India Infradebt Limited	Associate
23	India Advantage Fund-III	Associate
24	India Advantage Fund-IV	Associate
25	Arteria Technologies Private Limited	Associate

   

 

Page 7 of 7

 

 Item 3

 

 

April 19, 2025

 

BSE Limited Listing Department Phiroze Jeejeebhoy Towers Dalal Street Mumbai 400 001

National Stock Exchange of India Limited Listing Department Exchange Plaza, 5th floor Plot No. C/1, G Block Bandra-Kurla Complex Bandra (East) Mumbai 400 051

 

Dear Sir,

 

Declaration under Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations)

 

Pursuant to Regulation 33 of Listing Regulations, we hereby confirm and declare that the statutory auditors of the Bank, BSR & Co LLP, Chartered Accountants and CNK & Associates LLP, Chartered Accountants, have issued audit report on the standalone and consolidated financial results of the Bank for the year ended March 31, 2025 with unmodified opinion.

 

We request you to please take the above on record.

 

 

Yours faithfully,

 

/s/ Anindya Banerjee+

 

Anindya Banerjee

 

 

ICICI Bank Limited	Tel.: (91-22) 2653 1414	Regd. Office: ICICI Bonk Tower,
ICICI Bonk Towers,	Fax: (91-22) 2653 1122	Near Chokli Circle,
Bondro-Kurlo Complex.	Website www.icicibonk.com	Podro Road,
Mumbai - 400 051, Indio.	CIN ·L65190GJ 1994PLC021012	Vadodoro 390 007, India

 

 

Item 4

 

ICICI Bank Limited ICICI Bank Towers Bandra Kurla Complex Mumbai 400 051

 

News Release

April 19, 2025

 

Performance Review: Quarter ended March 31, 2025

 

·

Profit before tax excluding treasury grew by 13.2% year-on-year to ₹ 16,534 crore (US$ 1.9 billion) in the quarter ended March 31, 2025 (Q4-2025)

 

·

Core operating profit grew by 13.7% year-on-year to ₹ 17,425 crore (US$ 2.0 billion) in Q4-2025

 

·

Profit after tax grew by 18.0% year-on-year to ₹ 12,630 crore (US$ 1.5 billion) in Q4-2025

 

·

Profit before tax excluding treasury grew by 11.4% year-on-year to ₹ 60,713 crore (US$ 7.1 billion) in the year ended March 31, 2025 (FY2025)

 

·

Core operating profit grew by 12.5% year-on-year to ₹ 65,396 crore (US$ 7.6 billion) in FY2025

 

·

Profit after tax grew by 15.5% year-on-year to ₹ 47,227 crore (US$ 5.5 billion) in FY2025

 

·

Consolidated profit after tax increased by 15.7% year-on-year to ₹ 13,502 crore (US$ 1.6 billion) in Q4-2025 and by 15.3% year-on-year to ₹ 51,029 crore (US$ 6.0 billion) in FY2025

 

·

Total period-end deposits grew by 14.0% year-on-year to ₹ 16,10,348 crore (US $ 188.4 billion) at March 31, 2025

 

·

Average deposits grew by 11.4% year-on-year to ₹ 14,86,635 crore (US$ 173.9 billion) in Q4-2025

 

·

Average current account and savings account (CASA) ratio was 38.4% in Q4-2025

 

·

Domestic loan portfolio grew by 13.9% year-on-year to ₹ 13,10,981 crore (US$ 153.4 billion) at March 31, 2025

 

·

Net NPA ratio declined to 0.39% at March 31, 2025 from 0.42% at December 31, 2024

 

·

Provisioning coverage ratio on non-performing loans was 76.2% at March 31, 2025

 

·

Total capital adequacy ratio was 16.55% and CET-1 ratio was 15.94%, on a standalone basis, at March 31, 2025 after reckoning the impact of proposed dividend

 

·

The Board has recommended a dividend of ₹ 11 per share for FY2025. The declaration and payment of dividend is subject to requisite approvals

 

The Board of Directors of ICICI Bank Limited (NSE: ICICIBANK, BSE: 532174, NYSE: IBN) at its meeting held at Mumbai today, approved the standalone and consolidated accounts of the Bank for the quarter ended March 31, 2025 (Q4-2025) and the year ended March 31, 2025 (FY2025). The statutory auditors have audited the standalone and consolidated financial statements and have issued an unmodified report on the standalone and consolidated financial statements for FY2025.

 

 

ICICI Bank Limited ICICI Bank Towers Bandra Kurla Complex Mumbai 400 051

Profit & loss account

 

·

Profit before tax excluding treasury grew by 13.2% year-on-year to ₹ 16,534 crore (US$ 1.9 billion) in Q4-2025 from ₹ 14,602 crore (US$ 1.7 billion) in the quarter ended March 31, 2024 (Q4-2024)

 

·

Core operating profit grew by 13.7% year-on-year to ₹ 17,425 crore (US$ 2.0 billion) in Q4-2025 from ₹ 15,320 crore (US$ 1.8 billion) in Q4-2024

 

·

Net interest income (NII) increased by 11.0% year-on-year to ₹ 21,193 crore (US$ 2.5 billion) in Q4-2025 from ₹ 19,093 crore (US$ 2.2 billion) in Q4-2024

 

·

Net interest margin was 4.41% in Q4-2025 compared to 4.25% in Q3-2025 and 4.40% in Q4-2024. The net interest margin was 4.32% in FY2025

 

·

Non-interest income, excluding treasury, increased by 18.4% year-on-year to ₹ 7,021 crore (US$ 821 million) in Q4-2025 from ₹ 5,930 crore (US$ 694 million) in Q4-2024

 

·

Fee income grew by 16.0% year-on-year to ₹ 6,306 crore (US$ 738 million) in Q4-2025 from ₹ 5,436 crore (US$ 636 million) in Q4-2024. Fees from retail, rural and business banking customers constituted about 80% of total fees in Q4-2025

 

·

Treasury gains were ₹ 239 crore (US$ 28 million) in Q4-2025 as compared to a treasury loss of ₹ 281 crore (US$ 33 million) in Q4-2024. The treasury loss in Q4-2024 was due to transfer of negative balance of ₹ 340 crore (US$ 40 million) in Foreign Currency Translation Reserve related to Bank’s Offshore Unit in Mumbai to profit and loss account in view of the proposed closure of the Unit

 

·

Provisions (excluding provision for tax) were ₹ 891 crore (US$ 104 million) in Q4-2025 compared to ₹ 718 crore (US$ 84 million) in Q4-2024 and ₹ 1,227 crore (US$ 144 million) in Q3-2025

 

·

Profit before tax grew by 17.1% year-on-year to ₹ 16,773 crore (US$ 2.0 billion) in Q4-2025 from ₹ 14,321 crore (US$ 1.7 billion) in Q4-2024

 

·

Profit after tax grew by 18.0% year-on-year to ₹ 12,630 crore (US$ 1.5 billion) in Q4-2025 from ₹ 10,708 crore (US$ 1.3 billion) in Q4-2024

 

·

Profit after tax grew by 15.5% year-on-year to ₹ 47,227 crore (US$ 5.5 billion) in FY2025 from ₹ 40,888 crore (US$ 4.8 billion) in the year ended March 31, 2024 (FY2024)

 

Credit growth

 

The net domestic advances grew by 13.9% year-on-year and 2.2% sequentially at March 31, 2025. The retail loan portfolio grew by 8.9% year-on-year and 2.0% sequentially, and comprised 52.4% of the total loan portfolio at March 31, 2025. Including non-fund outstanding, the retail portfolio was 43.8% of the total portfolio at March 31, 2025. The business banking portfolio grew by 33.7% year-on-year and 6.2% sequentially at March 31, 2025. The rural portfolio grew by 5.1% year-on-year and declined by 1.5% sequentially at March 31, 2025. The domestic corporate portfolio grew by 11.9% year-on-year and declined by 0.4% sequentially at March 31, 2025. Total advances increased by 13.3% year-on-year and 2.1% sequentially to ₹ 13,41,766 crore (US$ 157 billion) at March 31, 2025.

 

2 

ICICI Bank Limited ICICI Bank Towers Bandra Kurla Complex Mumbai 400 051

The Bank continues to enhance the use of technology in its operations to provide simplified solutions to customers and making investments in its digital channels. The Bank expects to further strengthen system resilience and simplify processes.

 

Deposit growth

 

Total period-end deposits increased by 14.0% year-on-year and 5.9% sequentially to ₹ 16,10,348 crore (US$ 188.4 billion) at March 31, 2025. Average deposits increased by 11.4% year-on-year and 1.9% sequentially to ₹ 14,86,635 crore (US$ 173.9 billion) in Q4-2025. Average current account deposits increased by 9.6% year-on-year and 1.4% sequentially in Q4-2025. Average savings account deposits increased by 10.1% year-on-year and 0.2% sequentially in Q4-2025.

 

With the addition of 241 branches during Q4-2025, the Bank had a network of 6,983 branches and 16,285 ATMs & cash recycling machines at March 31, 2025.

 

Asset quality

 

The gross NPA ratio was 1.67% at March 31, 2025 compared to 1.96% at December 31, 2024. The net NPA ratio was 0.39% at March 31, 2025 compared to 0.42% at December 31, 2024. The gross NPA additions were ₹ 5,142 crore (US$ 602 million) in Q4-2025 compared to ₹ 6,085 crore (US$ 712 million) in Q3-2025. Recoveries and upgrades of NPAs, excluding write-offs and sale, were ₹ 3,817 crore (US$ 447 million) in Q4-2025 compared to ₹ 3,392 crore (US$ 397 million) in Q3-2025. The net additions to gross NPAs, excluding write-offs and sale, were ₹ 1,325 crore (US$ 155 million) in Q4-2025 compared to ₹ 2,693 crore (US$ 315 million) in Q3-2025. The Bank has written-off gross NPAs amounting to ₹ 2,118 crore (US$ 248 million) in Q4-2025. There was sale of NPAs of ₹2,786 crore (US$ 326 million) in Q4-2025 which consists of ₹ 1,605 crore (US$ 188 million) of security receipts and ₹ 314 crore (US$ 37 million) in cash. The Bank continues to hold 100% provisions against these security receipts. The provisioning coverage ratio on non-performing loans was 76.2% at March 31, 2025.

 

Excluding NPAs, the total fund based outstanding to all borrowers under resolution as per the various extant regulations/guidelines declined to ₹ 1,956 crore (US$ 229 million) or about 0.1% of total advances at March 31, 2025 from ₹ 2,107 crore (US$ 247 million) at December 31, 2024. The Bank holds provisions amounting to ₹ 643 crore (US$ 75 million) against these borrowers under resolution, as of March 31, 2025. In addition, the Bank continues to hold contingency provisions of ₹ 13,100 crore (US$ 1.5 billion) at March 31, 2025.

 

The loan and non-fund based outstanding to performing corporate borrowers rated BB and below was ₹ 2,854 crore (US$ 334 million) at March 31, 2025 compared to ₹ 2,193 crore (US$ 257 million) at December 31, 2024.

 

Capital adequacy

 

The Bank’s total capital adequacy ratio at March 31, 2025 was 16.55% and CET-1 ratio was 15.94% after reckoning the impact of proposed dividend compared to the minimum regulatory requirements of 11.70% and 8.20% respectively.

 

Dividend on equity shares

 

The Board has recommended a dividend of ₹ 11 per share (equivalent to dividend of US$ 0.26 per ADS) in line with applicable guidelines. The declaration of dividend is subject to requisite approvals. The record/book closure dates will be announced in due course.

 

3 

ICICI Bank Limited ICICI Bank Towers Bandra Kurla Complex Mumbai 400 051

Consolidated results

 

The consolidated profit after tax increased by 15.7% year-on-year to ₹ 13,502 crore (US$ 1.6 billion) in Q4-2025 from ₹ 11,672 crore (US$ 1.4 billion) in Q4-2024.

 

Consolidated assets grew by 11.8% year-on-year to ₹ 26,42,241 crore (US$ 309.1 billion) at March 31, 2025 from ₹ 23,64,063 crore (US$ 276.6 billion) at December 31, 2024.

 

Key subsidiaries

 

The annualised premium equivalent of ICICI Prudential Life Insurance (ICICI Life) was ₹ 10,407 crore (US$ 1.2 billion) in FY2025 compared to ₹ 9,046 crore (US$ 1.1 billion) in FY2024. Value of New Business (VNB) of ICICI Life was ₹ 2,370 crore (US$ 277 million) in FY2025 compared to ₹ 2,227 crore (US$ 261 million) in FY2024. The VNB margin was 22.8% in FY2025 compared to 24.6% in FY2024. The profit after tax was ₹ 1,189 crore (US$ 139 million) in FY2025 compared to ₹ 852 crore (US$ 100 million) in FY2024 and was ₹ 386 crore (US$ 45 million) in Q4-2025 compared to ₹ 174 crore (US$ 20 million) in Q4-2024.

 

The Gross Direct Premium Income (GDPI) of ICICI Lombard General Insurance Company (ICICI General) was ₹ 24,776 crore (US$ 2.9 billion) in FY2024 compared to ₹ 26,833 crore (US$ 3.1 billion) in FY2025. The combined ratio stood at 102.8% in FY2025 compared to 103.3% in FY2024. Excluding the impact of CAT losses of ₹ 94 crore (US$ 11 million) in FY2025 and ₹ 137 crore (US$ 16 million) in FY2024, the combined ratio was 102.4% and 102.5% respectively. The profit after tax of ICICI General grew by 30.7% to ₹ 2,508 crore (US$ 293 million) in FY2025 compared to ₹ 1,919 crore (US$ 225 million) in FY2024. The profit after tax of ICICI General was ₹ 510 crore (US$ 60 million) in Q4-2025 compared to ₹ 519 crore (US$ 61 million) in Q4-2024.

 

The profit after tax of ICICI Prudential Asset Management Company, as per Ind AS, increased to ₹ 692 crore (US$ 81 million) in Q4-2025 from ₹ 529 crore (US$ 62 million) in Q4-2024. The profit after tax grew by 29.3% year-on-year to ₹ 2,651 crore (US$ 310 million) in FY2025 from ₹ 2,050 crore (US$ 240 million) in FY2024.

 

4 

ICICI Bank Limited ICICI Bank Towers Bandra Kurla Complex Mumbai 400 051

The profit after tax of ICICI Securities, on a consolidated basis, as per Ind AS, was ₹ 381 crore (US$ 45 million) in Q4-2025 compared to ₹ 537 crore (US$ 63 million) in Q4-2024. The profit after tax grew by 14.4% year-on-year to ₹ 1,942 crore (US$ 227 million) in FY2025 from ₹ 1,697 crore (US$ 199 million) in FY2024. Pursuant to the Scheme of Arrangement amongst ICICI Bank Limited and ICICI Securities Limited and their respective shareholders, ICICI Securities Limited has been delisted from stock exchanges on March 24, 2025 and became a wholly-owned subsidiary of the Bank.

 

5 

ICICI Bank Limited ICICI Bank Towers Bandra Kurla Complex Mumbai 400 051

Summary Profit and Loss Statement (as per standalone Indian GAAP accounts)

 

					₹ crore
	FY2024	Q4-2024		Q3-2025		Q4-2025	FY2025
	Audited	Audited		Unaudited		Audited	Audited
Net interest income	74,306	19,093		20,371		21,193	81,165
Non-interest income	22,949	5,930		6,697		7,021	26,603
- Fee income	20,796	5,436		6,180		6,306	23,870
- Dividend income from subsidiaries	2,073	484		509		675	2,619
- Other income	80	10		8		40	114
Less:
Operating expense	39,133	9,703		10,552		10,789	42,372
Core operating profit1	58,122	15,320		16,516		17,425	65,396
Provisions	3,643	718		1,227		8912	4,6832
Profit before tax excl. treasury	54,479	14,602		15,289		16,534	60,713
Treasury	93	(281)3		371		239	1,903
Profit before tax	54,488	14,321		15,660		16,773	62,616
Less:
Provision for taxes	13,600	3,613		3,868		4,143	15,389
Profit after tax	40,888	10,708		11,792		12,630	47,227

1.

Excluding treasury

2.

The Bank, on a prudent basis, continues to hold provision against the security receipts guaranteed by the government, which will be reversed on actual receipt of recoveries or approval of claims, if any.

3.

The treasury loss during Q4-2024 includes the impact of transfer of negative balance of ₹ 340 crore (US$ 40 million) in Foreign Currency Translation Reserve related to Bank’s Offshore Unit in Mumbai to profit and loss account in view of the proposed closure of the Unit

4.

Prior period numbers have been re-arranged wherever necessary

 

6 

ICICI Bank Limited ICICI Bank Towers Bandra Kurla Complex Mumbai 400 051

Summary balance sheet

 

						₹ crore
	31-Mar-24		30-Sep-24		31-Dec-24		31-Mar-25
	Audited		Unaudited		Unaudited		Audited
Capital and liabilities
Capital	1,405		1,409		1,412		1,425
Employee stock options outstanding	1,405		1,651		1,802		2,070
Reserves and surplus	2,35,589		2,56,480		2,68,429		2,88,582
Deposits	14,12,825		14,97,761		15,20,309		16,10,348
Borrowings (includes subordinated debt)	1,24,968		1,24,493		1,27,731		1,23,538
Other liabilities and provisions2	95,323		95,064		93,660		92,277
Total capital and liabilities	18,71,515		19,76,858		20,13,343		21,18,240
Assets
Cash and balances with Reserve Bank of India	89,712		89,102		75,780		1,19,928
Balances with banks and money at call and short notice	50,214		47,697		67,635		65,634
Investments	4,61,942		4,79,098		4,71,978		5,04,7573
Advances	11,84,406		12,77,240		13,14,366		13,41,766
Fixed assets	10,860		11,546		11,922		12,839
Other assets	74,381		72,175		71,662		73,316
Total assets	18,71,515		19,76,858		20,13,343		21,18,240

1.

Prior period figures have been re-grouped/re-arranged wherever necessary

2.

The Bank continues to hold contingency provision of ₹ 13,100 crore (US$ 1.5 billion) at March 31, 2025

3.

Pursuant to the Scheme of Arrangement amongst ICICI Bank Limited and ICICI Securities Limited and their respective shareholders, ICICI Securities Limited has been delisted from stock exchanges on March 24, 2025 and became a wholly-owned subsidiary of the Bank.

 

7 

ICICI Bank Limited ICICI Bank Towers Bandra Kurla Complex Mumbai 400 051

Certain definitions in this release relating to a future period of time (including inter alia concerning our future business plans or growth prospects) are forward-looking statements intended to qualify for the 'safe harbor' under applicable securities laws including the US Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. These risks and uncertainties include, but are not limited to statutory and regulatory changes, international economic and business conditions, political or economic instability in the jurisdictions where the Bank has operations or which affect global or Indian economic conditions, increase in nonperforming loans, unanticipated changes in interest rates, foreign exchange rates, equity prices or other rates or prices, our growth and expansion in business, the adequacy of our allowance for credit losses, the actual growth in demand for banking products and services, investment income, cash flow projections, our exposure to market risks, changes in India’s sovereign rating, as well as other risks detailed in the reports filed by us with the United States Securities and Exchange Commission. Any forward-looking statements contained herein are based on assumptions that the Bank believes to be reasonable as of the date of this release. ICICI Bank undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov

 

This release does not constitute an offer of securities.

 

For further press queries please email Sujit Ganguli / Kausik Datta at [email protected] / [email protected] or [email protected]

 

For investor queries please email Abhinek Bhargava at [email protected] or Nitesh Kalantri at [email protected] or [email protected].

 

1 crore = 10.0 million

 

US$ amounts represent convenience translations at US$1= ₹ 85.48 

 

 

8 

 

Item 5

 

Annexure 2

 

M/s. B S R & Co. LLP

 

M/s. B S R & Co. LLP (“The Firm”) is a member entity of B S R & Affiliates, a network registered with the Institute of Chartered Accountants of India. The Firm is registered in Mumbai, Gurgaon, Bangalore, Kolkata, Hyderabad, Pune, Chennai, Chandigarh, Ahmedabad, Vadodara, Noida, Jaipur, Gandhinagar and Kochi. The Firm has over 4,000 staff and over 140 partners. The Firm audits various companies listed on stock exchanges in India including Banking Companies in the Financial Services Sector.

 

M/s. C N K & Associates LLP

 

M/s. C N K & Associates LLP (“The Firm”) is a multi-disciplinary Chartered Accountancy firm, head quartered in Mumbai, providing a wide spectrum of professional services including statutory audits, internal/ management audits and information systems audits, taxation - both direct and indirect and transaction advisory and other consulting services. The Firm comprises of more than 1000 personnel specialising in their respective service lines, having its presence in various cities which include Mumbai, Pune, Vadodara, Ahmedabad, Gift City (Gandhinagar), Delhi, Gurgaon, Bengaluru, Chennai and Kolkata. The Firm also has vast experience in the Banking, Financial Services and Insurance (BFSI) sector, providing audit/non-audit and consultancy services to private, public, regulator and foreign banks.

 

 

ICICI Bank Limited	Tel.: (91-22) 2653 1414
ICICI Bonk Towers,	Fax: (91-22) 2653 1122
Bondro-Kurlo Complex.	Website www.icicibonk.com	Regd. Office: ICICI Bonk Tower, Near Chokli Circle,
Mumbai - 400 051, Indio.	CIN ·L65190GJ 1994PLC021012	Podro Road, Vadodoro 390 007, India

 

 

Item 6 

 

Annexure 3

 

Brief profile of Ms. Madhavi Purandare

 

Madhavi is the Chief Information Security Officer (CISO) of the Bank. She joined the Bank in July 1999 and has an overall experience of 36 years across Banking & Financial services with expertise in Banking IT product development, & implementation. Prior to her current role, she was a part of the Bank’s Technology Group where she was responsible for Technology Operations. In this capacity, she contributed significantly to enhance the resilience of critical applications. She has a well-rounded experience across various technology platforms and has previously served in the technology governance. She has an extensive knowledge of the regulatory compliance framework and is well-versed in cyber security landscape. She has led several technology transformation initiatives at the Bank and has participated in strategic engagements with technology partners. She has also completed Certification program in IT & Cyber Security from IDBRT.

  

 

ICICI Bank Limited	Tel.: (91-22) 2653 1414
ICICI Bonk Towers,	Fax: (91-22) 2653 1122
Bondro-Kurlo Complex.	Website www.icicibonk.com	Regd. Office: ICICI Bonk Tower, Near Chokli Circle,
Mumbai - 400 051, Indio.	CIN ·L65190GJ 1994PLC021012	Podro Road, Vadodoro 390 007, India

 

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorised.

 

			For ICICI Bank Limited
Date	: April 19, 2025		By:
				Name :	Vivek Ranjan
				Title    :	Assistant General Manager