The Board of Directors of ICICI Bank on Saturday unanimously approved the reappointment of Sandeep Bakhshi as MD & CEO for an additional two-year term, effective from October 4, 2026, to October 3, 2028. Bakhshi, an ICICI veteran since 1986, has been instrumental in steering the bank towards steady growth and improved risk management since taking the helm in 2018.
Concurrently, the Bank released its Q3-2026 results, reporting a net profit of ₹11,318 crore. This represents a 4% decline compared to ₹11,792 crore in the previous year, primarily due to increased provisioning. Total provisions rose to ₹2,556 crore, up from ₹1,227 crore a year ago. This includes a specific standard asset provision of ₹1,283 crore mandated by the RBI regarding certain agricultural priority sector credit facilities.
Despite the impact on net profit, the Bank's operational metrics remained robust. Net Interest Income (NII) grew by 7.7% year-on-year to ₹21,932 crore. Asset quality showed further resilience with the Gross NPA ratio improving to 1.86% from 1.97% in the previous quarter, and the Net NPA ratio narrowing to 0.39%. The bank's domestic loan portfolio expanded by 14.8% YoY, supported by steady growth in retail and business banking segments.