ICICI Bank Quarterly Results – FY26 Q4 Analysis
Key Highlights / What This Means
The quarter showed strong revenue growth driven by both core and other income, alongside improvements in capital strength and asset quality. However, a significant increase in tax expenses impacted overall profitability.
Quarterly Analysis
- Income rose to ₹84,613.66 Cr (+10.2% QoQ, +6.1% YoY), indicating strong top-line growth.
- Other Income surged to ₹35,019.91 Cr (+23.2% QoQ, +11.7% YoY), contributing positively to total income.
- The CET 1 Ratio improved to 16.25% (+11.6% QoQ, +2.78% YoY), reflecting strengthened capital adequacy.
- The Percentage of Gross NPA decreased to 1.41% (-7.84% QoQ, -16.1% YoY), showing an improvement in asset quality.
- Tax Expense increased to ₹5,132.34 Cr (+18.2% QoQ, +7.16% YoY), impacting overall profitability.
ICICI Bank reported strong growth in its top line for FY26 Q4. Total Income reached ₹84,613.66 Crores, marking a 10.2% increase from the previous quarter and a 6.1% increase compared to the same quarter last year. This growth was supported by increases in both core Income and Other Income.
Other Income also demonstrated substantial growth, increasing by 23.2% QoQ to ₹35,019.91 Crores. This was also higher by 11.7% YoY. This significant increase in Other Income contributed positively to the bank's overall financial performance.
The bank's financial strength was further underscored by an improved CET 1 Ratio, which stood at 16.25% as of March 31, 2026. This represents an 11.6% increase QoQ and a 2.78% increase YoY. Asset quality also showed improvement, with the Percentage of Gross NPA decreasing to 1.41% as of March 31, 2026. This is a decrease of 7.84% QoQ and 16.1% YoY.
Despite the revenue growth and improvements in capital and asset quality, Tax Expense saw a notable increase. Tax Expense for the quarter was ₹5,132.34 Crores, an 18.2% increase compared to the previous quarter and a 7.16% increase YoY. This rise in tax expenses impacted overall profitability.
Technical Details
The quarter was dominated by a distribution phase, characterized by a downtrend regime and weakening momentum. Despite increasing volume, price action failed to confirm upward moves, indicating selling pressure and a breakdown of key support levels.
The price journey began at 1343.9 and concluded at 1205.9, marking a significant decline of 10.27% for the quarter. The closing price settled near the low end of the quarterly range (0.02 position), reflecting considerable downward pressure.
Early in the quarter, price action was volatile, indicative of a distribution phase. This was followed by a breakdown below the support level of 1218.1, signaling a shift towards a more pronounced downtrend. The latter part of the quarter saw continued weakness, with the price struggling to recover.
The overall trend regime is firmly in a downtrend, with short, medium, and long-term trends all aligned negatively. This is further supported by the price being below both the SMA20 and SMA50, with the SMA50 exhibiting a downward slope. The structure strength is weak, evidenced by a low trend quality and a limited percentage of higher highs and lows.
Volume behavior showed an increasing trend, but its confirmation signal was neutral, suggesting that while participation was present, it did not decisively support price advances. This increasing volume against declining prices can be interpreted as selling pressure. Volatility remained in a normal regime, though its trend was rising, indicating an increase in price fluctuations.
The dominant phase is clearly distribution, supported by volatile price behavior and high confidence in this assessment. The breakdown below support, coupled with weak momentum and an overall downtrend, solidifies this interpretation.
Key events during the quarter included a breakdown below support, confirming the distribution phase. Elevated volatility was also observed, contributing to the uncertain and pressured price action.