ICICI BANK Q2 FY27 HIGHLIGHTS
STRONG LOAN & DEPOSIT GROWTH
• Total Advances: ₹18,31,580 Cr, up 30% YoY & 12.3% QoQ
• Advances Excluding FCNR(B)-Backed Loans: Up 24.1% YoY & 7.3% QoQ
• Retail & Rural Loans: Up 14.8% YoY & 3.2% QoQ
• Business Banking: Up 33.8% YoY & 11.1% QoQ
• Domestic Corporate Loans: Up 30.6% YoY & 10.4% QoQ
• Domestic Advances: Up 22.8% YoY & 6.8% QoQ
• Total Deposits: ₹20,49,874 Cr, up 27.1% YoY & 11.8% QoQ
• Deposits Excluding FCNR(B): Up 17% YoY & 3.1% QoQ
• Average Deposits: ₹18,88,219 Cr, up 21.2% YoY & 8% QoQ
• Average CASA Deposits: Up 10.7% YoY & 1.4% QoQ
• Average CASA Ratio: 35.8%
STRONG LOAN & DEPOSIT GROWTH
• Total Advances: ₹18,31,580 Cr, up 30% YoY & 12.3% QoQ
• Advances Excluding FCNR(B)-Backed Loans: Up 24.1% YoY & 7.3% QoQ
• Retail & Rural Loans: Up 14.8% YoY & 3.2% QoQ
• Business Banking: Up 33.8% YoY & 11.1% QoQ
• Domestic Corporate Loans: Up 30.6% YoY & 10.4% QoQ
• Domestic Advances: Up 22.8% YoY & 6.8% QoQ
• Total Deposits: ₹20,49,874 Cr, up 27.1% YoY & 11.8% QoQ
• Deposits Excluding FCNR(B): Up 17% YoY & 3.1% QoQ
• Average Deposits: ₹18,88,219 Cr, up 21.2% YoY & 8% QoQ
• Average CASA Deposits: Up 10.7% YoY & 1.4% QoQ
• Average CASA Ratio: 35.8%
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ICICI BANK Q2 FY27 : SEGMENT-WISE PERFORMANCE (STANDALONE)
🏦 RETAIL BANKING
Revenue up 7.27% YoY to ₹43,723.90 Cr, up 3.69% QoQ.
Profit up 22.12% YoY to ₹7,716.35 Cr, up 23.68% QoQ.
🏦 WHOLESALE BANKING
Revenue up 28.06% YoY to ₹27,035.05 Cr, up 6.75% QoQ.
Profit up 37.36% YoY to ₹7,910.52 Cr, up 5.77% QoQ.
💰 TREASURY OPERATIONS
Revenue up 16.57% YoY to ₹39,532.75 Cr, up 6.24% QoQ.
Profit down 3.04% YoY to ₹4,015.60 Cr, down 16.73% QoQ.
🏦 OTHER BANKING OPERATIONS
Revenue up 272.55% YoY to ₹3,570.59 Cr, up 118.65% QoQ.
Profit down 50.18% YoY to ₹82.07 Cr, down 85.97% QoQ.
ICICI BANK Q2 FY27 : NIM
Net Interest Margin (NIM) at 4.18% vs 4.36% in Q1 FY27.
The bank stated that the benefit from interest on tax refunds was negligible in Q2 FY27, compared with 8 basis points in Q1 FY27 and negligible benefit in Q2 FY26.
Excluding the tax refund interest benefit, NIM was 4.28% in Q1 FY27.
🏦 RETAIL BANKING
Revenue up 7.27% YoY to ₹43,723.90 Cr, up 3.69% QoQ.
Profit up 22.12% YoY to ₹7,716.35 Cr, up 23.68% QoQ.
🏦 WHOLESALE BANKING
Revenue up 28.06% YoY to ₹27,035.05 Cr, up 6.75% QoQ.
Profit up 37.36% YoY to ₹7,910.52 Cr, up 5.77% QoQ.
💰 TREASURY OPERATIONS
Revenue up 16.57% YoY to ₹39,532.75 Cr, up 6.24% QoQ.
Profit down 3.04% YoY to ₹4,015.60 Cr, down 16.73% QoQ.
🏦 OTHER BANKING OPERATIONS
Revenue up 272.55% YoY to ₹3,570.59 Cr, up 118.65% QoQ.
Profit down 50.18% YoY to ₹82.07 Cr, down 85.97% QoQ.
ICICI BANK Q2 FY27 : NIM
Net Interest Margin (NIM) at 4.18% vs 4.36% in Q1 FY27.
The bank stated that the benefit from interest on tax refunds was negligible in Q2 FY27, compared with 8 basis points in Q1 FY27 and negligible benefit in Q2 FY26.
Excluding the tax refund interest benefit, NIM was 4.28% in Q1 FY27.
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RELIANCE INDUSTRIES: UNUSUALLY LARGE F&O BETS AHEAD OF JIO IPO: MINT
Two clients have built exceptionally large positions in Reliance Industries’ F&O contracts, with their positions exceeding 3% of RIL’s Market-Wide Position Limit (MWPL). Such large positions are considered highly unusual for RIL.
The aggressive positioning comes just days before the Jio Platforms IPO, which could become a major value-unlocking event for Reliance. A separate listing for Jio would provide a transparent market valuation for RIL’s largest digital asset and could help reduce the conglomerate discount applied to RIL.
Two clients have built exceptionally large positions in Reliance Industries’ F&O contracts, with their positions exceeding 3% of RIL’s Market-Wide Position Limit (MWPL). Such large positions are considered highly unusual for RIL.
The aggressive positioning comes just days before the Jio Platforms IPO, which could become a major value-unlocking event for Reliance. A separate listing for Jio would provide a transparent market valuation for RIL’s largest digital asset and could help reduce the conglomerate discount applied to RIL.
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TRUMP: ‘GREAT PROGRESS’ IN RUSSIA-UKRAINE PEACE & HOSTAGE TALKS; WARNS NEW RUSSIA DOCUMENT COULD DRIVE MOSCOW FROM NEGOTIATIONS, SAYS RUSSIA ‘MUST STAY AWAY FROM IRAN SUPPORT’
TRUMP CRITICISES ZELENSKYY FOR TARGETING RUSSIAN DIESEL REFINERIES, SAYING UKRAINE’S REFINERY ATTACKS HURT GLOBAL AND U.S. DIESEL MARKETS AND THAT ZELENSKYY ‘DOES NOT WANT TO END THE WAR WITH RUSSIA’.
SEVERAL EXPLOSIONS IN SAUDI ARABIA’S JEDDAH, FLIGHTS SUSPENDED AT JEDDAH’S KING ABDULAZIZ AIRPORT
ELON MUSK: I RECOMMEND DISTRIBUTING SHARES DIRECTLY TO PUBLIC AFTER ANTHROPIC PLEDGES 5% STAKE TO NEW PUBLIC BENEFIT FUND
IRAN’S IRGC NAVY: OIL TANKER CAUGHT FIRE AND EXPLODED AFTER HITTING MINE IN STRAIT OF HORMUZ
Q2 Earnings
Good-ICICI Bank, PNB, Ixigo, Central Bank of India, Kross
Inline/Mixed-Urban Co, Axis Bank, HDFC Bank, DLF, Bajaj Housing Finance, Tejas Network, Bajaj Finserv (Operational Update), IDBI Bank, Rossari Biotech, Bajaj Healthcare, India Cements, Antony Waste (Operational Update), Yes Bank
Weak- Jindal Saw, LTM
Good-ICICI Bank, PNB, Ixigo, Central Bank of India, Kross
Inline/Mixed-Urban Co, Axis Bank, HDFC Bank, DLF, Bajaj Housing Finance, Tejas Network, Bajaj Finserv (Operational Update), IDBI Bank, Rossari Biotech, Bajaj Healthcare, India Cements, Antony Waste (Operational Update), Yes Bank
Weak- Jindal Saw, LTM
EARNINGS WATCHLIST
🟢 POSITIVE
• ICICI Bank – NII growth at 17% YoY
• HDFC Bank – Numbers in line with expectations
• Axis Bank – PAT beats estimates on NII and credit costs
• PNB – Provisions dropped sharply
• Ixigo – Turnaround quarter
• Central Bank of India – NIM up 12 bps YoY
• Kross – Revenue up 79% YoY
• Bajaj Healthcare – Stable operational performance
🔴 NEGATIVE
• Urban Company (InstaHelp) – Losses remain elevated; fundraise may see mixed reactions
• Yes Bank – AT-1 bonds; statutory auditors issued a qualified review report
• LTM – Muted quarter; margins missed estimates and profit declined
🟢 POSITIVE
• ICICI Bank – NII growth at 17% YoY
• HDFC Bank – Numbers in line with expectations
• Axis Bank – PAT beats estimates on NII and credit costs
• PNB – Provisions dropped sharply
• Ixigo – Turnaround quarter
• Central Bank of India – NIM up 12 bps YoY
• Kross – Revenue up 79% YoY
• Bajaj Healthcare – Stable operational performance
🔴 NEGATIVE
• Urban Company (InstaHelp) – Losses remain elevated; fundraise may see mixed reactions
• Yes Bank – AT-1 bonds; statutory auditors issued a qualified review report
• LTM – Muted quarter; margins missed estimates and profit declined
ACTION FOR DAY
Nifty Weekly Expiry (Tuesday Trading Holiday)
UAE Foreign Minister to Visit India
China Macro Data
Lockin Expiry-Manika Plastech, Om Power Transmission, Anantam Highways Trust
Q2 Earnings-Bajaj Finance, LTTS
Q2 Earnings-UltraTech Cement, Waaree Renewable Tech
Nifty Weekly Expiry (Tuesday Trading Holiday)
UAE Foreign Minister to Visit India
China Macro Data
Lockin Expiry-Manika Plastech, Om Power Transmission, Anantam Highways Trust
Q2 Earnings-Bajaj Finance, LTTS
Q2 Earnings-UltraTech Cement, Waaree Renewable Tech
CHINA DATA WATCH
CHINA (SEP) GDP YoY ATUAL: 4.5% VS 4.3% PREVIOUS;EST 4.4%
CHINA (SEP) GDP YTD YoY ATUAL: 4.6% VS 4.7% PREVIOUS;EST 4.6%
CHINA (SEP) GDP SA QoQ ATUAL: 1.2% VS 0.9% PREVIOUS;EST 1%
CHINA (SEP) Retail Sales YoY ATUAL: 1.1% VS 0.4% PREVIOUS;EST 0.5%
CHINA (SEP) Retail Sales YTD YoY ATUAL: 1.1% VS 1.1% PREVIOUS
CHINA (SEP) Industrial Production YoY ATUAL: 5.5% VS 5.2% PREVIOUS;EST 5.5%
CHINA (SEP) Industrial Production YTD YoY ATUAL: 5.3% VS 5.3% PREVIOUS
CHINA (SEP) Surveyed Jobless Rate ATUAL: 5.2% VS 5.3% PREVIOUS;EST 5.3%
CHINA (SEP) Fixed Assets Ex Rural YTD YoY ATUAL: -7.2% VS -7.2% PREVIOUS;EST -7.3
CHINA (SEP) Property Investment YTD YoY ATUAL: -20.6% VS -19.9% PREVIOUS;EST -20%
CHINA (SEP) Residential Property Sales YTD YoY ATUAL: -13.7% VS -13.1% PREVIOUS
CHINA (SEP) GDP YoY ATUAL: 4.5% VS 4.3% PREVIOUS;EST 4.4%
CHINA (SEP) GDP YTD YoY ATUAL: 4.6% VS 4.7% PREVIOUS;EST 4.6%
CHINA (SEP) GDP SA QoQ ATUAL: 1.2% VS 0.9% PREVIOUS;EST 1%
CHINA (SEP) Retail Sales YoY ATUAL: 1.1% VS 0.4% PREVIOUS;EST 0.5%
CHINA (SEP) Retail Sales YTD YoY ATUAL: 1.1% VS 1.1% PREVIOUS
CHINA (SEP) Industrial Production YoY ATUAL: 5.5% VS 5.2% PREVIOUS;EST 5.5%
CHINA (SEP) Industrial Production YTD YoY ATUAL: 5.3% VS 5.3% PREVIOUS
CHINA (SEP) Surveyed Jobless Rate ATUAL: 5.2% VS 5.3% PREVIOUS;EST 5.3%
CHINA (SEP) Fixed Assets Ex Rural YTD YoY ATUAL: -7.2% VS -7.2% PREVIOUS;EST -7.3
CHINA (SEP) Property Investment YTD YoY ATUAL: -20.6% VS -19.9% PREVIOUS;EST -20%
CHINA (SEP) Residential Property Sales YTD YoY ATUAL: -13.7% VS -13.1% PREVIOUS