Skip to main content
Equibles

IBN 6-K

Icici Bank Ltd (IBN)

6-K 2025-01-27 For: 2025-01-25
View Original
Added on July 04, 2026

UNITED STATES

SECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN ISSUER PURSUANT TO RULE 13a-16 OR

15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of January 2025

Commission File Number: 001-15002

ICICI Bank Limited

(Translation of registrant’s name into English)

ICICI Bank Towers,

Bandra-Kurla Complex

Mumbai, India 400 051

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file

annual reports under cover Form 20-F or Form 40-F.

Form<br> 20-F   X Form 40-F

Table of Contents

Items:

1. Other news.
2. Unaudited financial results<br> (standalone and consolidated) for the quarter and nine months ended December 31, 2024
3. Limited Review Reports
4. News Release
5. Annexure

Item 1.

OTHER NEWS

Subject:Outcome of Board Meeting held on January 25, 2025

IBN

ICICI Bank Limited(the ‘Bank’) Report on Form 6-K

The Bank has made the below announcements to the Indian stock exchanges:

1. Approval of unaudited financial results of the Bank for the quarter and nine months ended December 31, 2024

In terms of Regulation 30, 33, 52(4) and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI Listing Regulations), we write to inform you that the Board of Directors of ICICI Bank Limited (the Bank), at its meeting held today, interalia, approved unaudited financial results (standalone and consolidated) for the quarter and nine months ended December 31, 2024. We enclose herewith the following:

o Unaudited financial<br> results (standalone and consolidated) for the quarter and nine months ended December 31,<br> 2024;
o Limited review<br> reports on the unaudited financial results (standalone and consolidated) issued by B S R<br> & Co. LLP, Chartered Accountants and C N K & Associates LLP, Chartered Accountants,<br> the joint statutory auditors of the Bank for the corresponding period; and
--- ---
o News Release<br> on unaudited financial results for the quarter and nine months ended December 31, 2024.
--- ---
2. Re-appointment of Mr. Sandeep Batra (DIN: 03620913) as Executive Director of the Bank:

The Board of Directors recorded that the current tenure of Mr. Sandeep Batra (DIN: 03620913) Executive Director of the Bank was up to December 22, 2025. The Board unanimously approved the re-appointment of Mr. Sandeep Batra for a further period of two years with effect from December 23, 2025 to December 22, 2027, subject to approval of Reserve Bank of India, shareholders, and such other approvals as may be required.

3. Re-appointment of Mr. Rakesh Jha (DIN: 00042075) as Executive Director of the Bank

The Board approved the proposal for seeking approval from Reserve Bank of India for the re-appointment of Mr. Rakesh Jha (DIN: 00042075) as the Executive Director of the Bank from September 2, 2025 to September 1, 2027. The Board and shareholders have already approved the appointment of Mr. Jha as the Executive Director of the Bank upto September 1, 2027.

All the above proposed re-appointments are in line with RBI Circular RBI/2021-22/24 DOR.GOV.REC.8/29.67.001/2021-22 dated April 26, 2021.

The other details as required pursuant to Regulation 30 of the SEBI Listing Regulations with regard to re-appointment of Directors are enclosed as Annexure.

Please take the above information on record.

Item 2.
ICICI Bank<br> Limited
--- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
CIN-L65190GJ1994PLC021012
Registered<br> Office: ICICI Bank Tower, Near Chakli Circle, Old Padra Road, Vadodara - 390<br> 007, Gujarat, Phone:<br> 0265-6722239
Corporate<br> Office: ICICI Bank Towers, Bandra-Kurla Complex, Mumbai - 400 051, Maharashtra,<br> Phone:<br> 022-4008 8900
Website:<br> www.icicibank.com, Email: [email protected]
STANDALONE<br> FINANCIAL RESULTS
(<br> in crore)
Sr. no. Particulars Three months ended Nine months ended Year ended
December 31, 2024 (Q3-2025) September 30, 2024 (Q2-2025) December 31, 2023 (Q3-2024) December 31, 2024 (9M-2025) December 31, 2023 (9M-2024) March 31, 2024 (FY2024)
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited)
1. Interest<br> earned (a)+(b)+(c)+(d) 41,299.82 40,537.38 36,694.58 120,832.98 104,942.58 142,890.94
a) Interest/discount<br> on advances/bills 32,048.40 31,426.45 28,557.51 93,583.39 81,520.53 110,943.93
b) Income<br> on investments 8,302.14 8,311.33 7,210.67 24,770.05 20,848.98 28,630.99
c) Interest<br> on balances with Reserve Bank of India and other inter-bank funds 489.59 517.11 454.19 1,449.70 1,361.23 1,791.39
d) Others 459.69 282.49 472.21 1,029.84 1,211.84 1,524.63
2. Other<br> income^1^ 7,068.05 7,176.66 6,097.06 21,246.63 17,308.99 22,957.77
3. TOTAL INCOME (1)+(2) 48,367.87 47,714.04 42,791.64 142,079.61 122,251.57 165,848.71
4. Interest<br> expended 20,929.21 20,489.40 18,016.03 60,861.48 49,729.66 68,585.22
5. Operating<br> expenses (e)+(f) 10,552.11 10,501.46 10,051.99 31,583.56 29,429.90 39,132.73
e) Employee<br> cost 3,929.05 4,136.14 3,812.67 12,435.70 11,421.75 15,141.99
f) Other<br> operating expenses 6,623.06 6,365.32 6,239.32 19,147.86 18,008.15 23,990.74
6. TOTAL EXPENDITURE EXCLUDING PROVISIONS AND CONTINGENCIES (4)+(5) **** **** **** **** **** ****
31,481.32 30,990.86 28,068.02 92,445.04 79,159.56 107,717.95
7. OPERATING PROFIT BEFORE PROVISIONS AND CONTINGENCIES (3)–(6) 16,886.55 16,723.18 14,723.62 49,634.57 43,092.01 58,130.76
8. Provisions<br> (other than tax) and contingencies 1,226.65 1,233.09 1,049.37 3,791.92 2,924.44 3,642.93
9. PROFIT<br> FROM ORDINARY ACTIVITIES BEFORE EXCEPTIONAL ITEMS AND TAX (7)–(8) 15,659.90 15,490.09 13,674.25 45,842.65 40,167.57 54,487.83
10. Exceptional<br> items .. .. .. .. .. ..
11. PROFIT<br> FROM ORDINARY ACTIVITIES BEFORE TAX (9)–(10) 15,659.90 15,490.09 13,674.25 45,842.65 40,167.57 54,487.83
12. Tax<br> expense (g)+(h) 3,867.48 3,744.21 3,402.71 11,245.24 9,986.83 13,599.56
g) Current<br> tax 3,902.77 3,306.43 3,366.19 10,535.76 9,750.08 12,050.65
h) Deferred<br> tax (35.29) 437.78 36.52 709.48 236.75 1,548.91
13. NET<br> PROFIT FROM ORDINARY ACTIVITIES AFTER TAX (11)–(12) 11,792.42 11,745.88 10,271.54 34,597.41 30,180.74 40,888.27
14. Extraordinary<br> items (net of tax expense) .. .. .. .. .. ..
15. NET PROFIT FOR THE PERIOD (13)–(14) 11,792.42 11,745.88 10,271.54 34,597.41 30,180.74 40,888.27
16. Paid-up<br> equity share capital (face value Rs. 2 each) 1,412.11 1,409.45 1,403.18 1,412.11 1,403.18 1,404.68
17. Reserves<br> excluding revaluation reserves 232,505.97
18. Analytical<br> ratios
i) Percentage<br> of shares held by Government of India 0.22% 0.22% 0.22% 0.22% 0.22% 0.22%
ii) Capital<br> adequacy ratio (Basel III) 14.71% 15.35% 14.61% 14.71% 14.61% 16.33%
iii) Earnings<br> per share (EPS)
a) Basic<br> EPS before and after extraordinary items, net of tax expense (not annualised) (in Rs.) 16.72 16.68 14.65 49.13 43.12 58.38
b) Diluted<br> EPS before and after extraordinary items, net of tax expense (not annualised) (in Rs.) 16.45 16.40 14.40 48.30 42.34 57.33
19. NPA<br> Ratio^2^
i) Gross<br> non-performing customer assets (net of write-off) 27,745.33 27,121.15 28,774.63 27,745.33 28,774.63 27,961.68
ii) Net<br> non-performing customer assets 5,897.76 5,685.14 5,378.48 5,897.76 5,378.48 5,377.79
iii) %<br> of gross non-performing customer assets (net of write-off) to gross customer assets 1.96% 1.97% 2.30% 1.96% 2.30% 2.16%
iv) %<br> of net non-performing customer assets to net customer assets 0.42% 0.42% 0.44% 0.42% 0.44% 0.42%
20. Return<br> on assets (annualised) 2.36% 2.40% 2.32% 2.38% 2.38% 2.37%
21. Net<br> worth^3^ 262,305.12 250,418.12 215,432.30 262,305.12 215,432.30 227,933.46
22. Outstanding<br> redeemable preference shares .. .. .. .. .. ..
23. Capital<br> redemption reserve 350.00 350.00 350.00 350.00 350.00 350.00
24. Debt-equity<br> ratio^4^ 0.25 0.27 0.32 0.25 0.32 0.30
25. Total<br> debts to total assets^5^ 6.34% 6.30% 7.11% 6.34% 7.11% 6.68%
1. During FY2024,<br> the Bank had transferred accumulated translation loss of Rs. 339.66 crore related to closure of Bank’s Offshore Banking Unit,<br> SEEPZ Mumbai, to profit and loss account in terms of Accounting Standard 11 - The Effects of Changes in Foreign Exchange Rates.
2. At December<br> 31, 2024, the percentage of gross non-performing advances (net of write-off) to gross advances was 2.03% (September 30, 2024: 2.04%,<br> March 31, 2024: 2.26%, December 31, 2023: 2.37%) and net non-performing advances to net advances was 0.45% (September 30, 2024: 0.45%,<br> March 31, 2024: 0.45%, December 31, 2023: 0.47%).
3. Net worth is<br> computed as per RBI Master Circular No. RBI/2015-16/70 DBR.No.Dir.BC.12/13.03.00/2015-16 on Exposure Norms dated July 1, 2015. Net<br> worth also includes Available for Sale (‘AFS’) Reserve.
4. Debt represents<br> borrowings with residual maturity of more than one year.
5. Total debts represents<br> total borrowings of the Bank.

All values are in Indian Rupees.
SUMMARISED<br> STANDALONE BALANCE SHEET
--- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
(<br> in crore)
Particulars At
December 31, 2024 September 30, 2024 March 31, 2024 December 31, 2023
(Unaudited) (Unaudited) (Audited) (Unaudited)
Capital and Liabilities
Capital 1,412.11 1,409.45 1,404.68 1,403.18
Employees<br> stock options/units outstanding 1,801.66 1,650.74 1,405.32 1,242.55
Reserves<br> and surplus 268,429.17 256,479.80 235,589.32 224,190.83
Deposits 1,520,308.75 1,497,760.67 1,412,824.95 1,332,314.54
Borrowings<br> (includes subordinated debt) 127,731.77 124,492.93 124,967.58 126,871.26
Other<br> liabilities and provisions 93,659.67 95,064.64 95,322.73 97,199.72
Total<br> Capital and Liabilities **** **** **** **** **** **** **** **** **** **** **** **** 2,013,343.13 1,976,858.23 1,871,514.58 1,783,222.08
Assets **** **** **** **** **** **** **** **** **** **** **** **** **** **** **** **** **** **** **** ****
Cash<br> and balances with Reserve Bank of India 75,780.32 89,101.67 89,711.70 64,869.20
Balances<br> with banks and money at call and short notice 67,635.18 47,696.98 50,214.31 34,458.91
Investments 471,978.34 479,098.46 461,942.27 436,649.75
Advances 1,314,366.05 1,277,240.43 1,184,406.39 1,153,771.02
Fixed<br> assets 11,921.03 11,545.62 10,859.84 10,353.96
Other<br> assets 71,662.21 72,175.07 74,380.07 83,119.24
Total<br> Assets **** **** **** **** **** **** **** **** **** **** **** **** **** **** **** 2,013,343.13 1,976,858.23 1,871,514.58 1,783,222.08

All values are in Indian Rupees.

Notes on standalone finanical results:<br><br> <br>****
1. The above standalone<br> financial results have been approved by the Board of Directors at its meeting held on January 25, 2025.
2. The standalone<br> financial results have been prepared in accordance with the recognition and measurement principles laid down in Accounting Standard<br> 25 “Interim Financial Reporting” (‘AS 25’), prescribed under Section 133 of the Companies Act, 2013, the<br> relevant provisions of the Banking Regulation Act, 1949, the circulars, guidelines and directions issued by the Reserve Bank of India<br> (“the RBI”) from time to time and other accounting principles generally accepted in India and, in case of overseas jurisdictions,<br> generally accepted accounting principles as applicable, and are in compliance with the presentation and disclosure requirements of<br> the Regulation 33 and Regulation 52(4) read with Regulation 63 of the Securities Exchange Board of India (Listing Obligations and<br> Disclosure Requirements) Regulations, 2015 (“SEBI Regulations”) as amended including relevant circulars issued by SEBI<br> from time to time.
3. At December<br> 31, 2024, the Bank holds contingency provision of Rs. 13,100.00 crore (September 30, 2024, March 31, 2024 and December 31, 2023:<br> Rs. 13,100.00 crore).
4. Details of loans<br> sold/acquired by the Bank as per RBI Master Direction on Transfer of Loan Exposures dated September 24, 2021 are given below:
a) Loans not in<br> default
(i)  Details<br> of loans not in default sold/acquired under assignment during nine months ended December 31, 2024:
in crore
Particulars Loans acquired Loans sold
Amount<br> of loan 7,419.59 ..
Weighted<br> average residual maturity (in years) 9.05 ..
Weighted<br> average holding period of the originator (in years) 1.06 ..
Retention<br> of beneficial economic interest by the originator 2,362.11 ..
Tangible<br> security coverage (times) 1.61 ..
1.<br> The Bank has acquired facilities amounting to Rs. 477.69 crore and has sold facilities amounting to Rs. 60.00 crore during nine months<br> ended December 31, 2024 through novation.
2. In addition,<br> the Bank has not acquired any loan through risk participation from secondary market.
3. The disclosure<br> includes loans acquired through buyout and co-lending similar to direct assignment.
(ii) Details of rating-wise<br> distribution of the loans sold/acquired under assignment during nine months ended December 31, 2024:
in crore
**** **** Rating Loans acquired Loans sold
Ind<br> A-, A+, AA+,AA 546.97 ..
ICRA<br> A,AA-,A+ 172.54 ..
Crisil<br> A,A+,AA 45.25 ..
1.<br> Excluding retail and other unrated loans.
b) Stressed loans<br> (NPA and Special Mention Accounts)
(i) Details of stressed<br> loans classified as NPA sold by the Bank during nine months ended December 31, 2024:
in crore
**** **** Particulars To ARCs To permitted transferees
Number<br> of accounts 24 ..
Aggregate<br> principal outstanding of loans transferred^2^ 188.11 ..
Weighted<br> average residual tenor of the loans transferred^3^ .. ..
Net<br> book value of loans transferred (at the time of transfer)^4^ .. ..
Aggregate<br> consideration 166.53 ..
Additional<br> consideration realized in respect of accounts transferred in earlier years .. ..
1.<br> Excess provision reversed/income booked in profit and loss account on account of sale of NPAs to ARCs was Rs. 166.53 crore and no<br> amount was transferred to other permitted transferees.
2. Net of write-off.
3. For NPAs, the<br> Bank issues loan recall notice and initiates legal proceedings for recovery, due to which the weighted average residual tenor is<br> not applicable.
4. Net of write-off<br> and provisions.
(ii) The Bank has not<br> sold/acquired loans classified as Special Mention Account during nine months ended December 31, 2024.
(iii) The Bank has not<br> acquired non-performing loans during nine months ended December 31, 2024.
(iv) Details of rating-wise<br> distribution of SRs held by the Bank at December 31, 2024:
Rs.<br> in crore
**** **** Rating NAV estimate % Carrying value
RR1 Above<br> 100% 269.95
RR2 Above<br> 75% upto 100% ..
RR3 Above<br> 50% upto 75% 234.18
RR4 Above<br> 25% upto 50% ..
RR5 Upto<br> 25% 653.38
Total 1,157.51
1. The Bank holds<br> marked-to-market loss of Rs. 336.62 crore and additional provision of Rs. 820.89 crore.

All values are in Indian Rupees.
5. There are no<br> changes in the significant accounting policies applied during 9M-2025 as compared to those applied in FY2024 except for classification<br> and measurement of investments by the Bank. With effect from April 1, 2024, the Bank has implemented Master Direction issued by the<br> RBI on Classification, Valuation and Operation of investment Portfolio of Commercial Banks (Directions), 2023 (‘RBI Directions’)<br> which has introduced significant changes in the basis of classification and accounting of investments and recognition of fair valuation<br> of gains and losses. Accordingly, in standalone financial results, the Bank has accounted net transition gain of 2,058.31 crore<br> (net of tax) and 1,156.10 crore (net of tax) in Available for Sale (‘AFS’) Reserve and General Reserve respectively<br> in accordance with the RBI Directions. <br> Subsequent changes in fair value of performing investments under AFS and Fair Value Through Proft and Loss (‘FVTPL’)<br> (including Held For Trading (‘HFT’)) categories at December 31, 2024 have been recognised through AFS Reserve and Profit<br> and Loss account respectively.  Accordingly, the amounts for previous periods are not comparable.
6. During Q3-2025,<br> the Bank has allotted 13,288,873 equity shares of Rs. 2 each pursuant to exercise of employee stock options/units.
7. Previous period/year<br> figures have been re-grouped/re-classified where necessary to conform to current period classification.
8. The joint statutory<br> auditors, B S R & Co. LLP, Chartered Accountants and C N K & Associates LLP, Chartered Accountants, have conducted limited<br> review and issued an unmodified report on the standalone financial results for Q2-2025, Q3-2025 and 9M-2025. The standalone financial<br> results for Q3-2024, 9M-2024 and FY2024 were reviewed/audited by the joint statutory auditors, M S K A & Associates, Chartered<br> Accountants and KKC & Associates LLP, Chartered Accountants, on which they had issued unmodified conclusion/opinion.
9. Rs. 1.00 crore<br> = 10.0 million.

All values are in Indian Rupees.
STANDALONE<br> SEGMENTAL RESULTS
(<br> in crore)
Sr. no. Particulars Three months ended Nine months ended Year ended
December 31, 2024 (Q3-2025) September 30, 2024 (Q2-2025) December 31, 2023 (Q3-2024) December 31, 2024 (9M-2025) December 31, 2023 (9M-2024) March 31, 2024 (FY2024)
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited)
1. Segment revenue **** ****
a Retail<br> Banking 39,437.70 38,750.86 34,000.52 115,567.02 98,137.75 134,547.57
b Wholesale<br> Banking 21,119.32 20,388.83 19,454.81 60,900.30 52,907.71 71,780.22
c Treasury 34,047.54 33,579.54 29,473.80 100,274.44 83,637.99 113,959.22
d Other<br> Banking 1,395.25 1,254.38 949.56 3,339.89 2,521.71 3,297.30
Total<br> segment revenue 95,999.81 93,973.61 83,878.69 280,081.65 237,205.16 323,584.31
Less:<br> Inter segment revenue 47,631.94 46,259.57 41,087.05 138,002.04 114,953.59 157,735.60
Income<br> from operations 48,367.87 47,714.04 42,791.64 142,079.61 122,251.57 165,848.71
2. Segmental results (i.e. Profit before tax) **** **** **** **** **** ****
a Retail<br> Banking 5,332.36 5,556.19 4,288.46 15,127.62 13,363.06 18,849.17
b Wholesale<br> Banking 5,903.24 5,197.53 5,746.05 16,012.84 14,495.75 19,971.71
c Treasury 4,218.14 4,603.39 3,327.70 14,295.11 11,656.75 14,898.40
d Other<br> Banking 206.16 132.98 312.04 407.08 652.01 768.55
**** Total segment results 15,659.90 15,490.09 13,674.25 45,842.65 40,167.57 54,487.83
3. Segment assets **** **** **** **** **** ****
a Retail<br> Banking 776,300.69 778,247.73 690,053.22 776,300.69 690,053.22 719,313.62
b Wholesale<br> Banking 539,703.97 502,717.35 476,924.80 539,703.97 476,924.80 482,456.10
c Treasury 642,457.98 644,803.85 575,869.22 642,457.98 575,869.22 628,256.14
d Other<br> Banking 49,906.72 46,368.30 33,024.20 49,906.72 33,024.20 34,891.44
e Unallocated 4,973.77 4,721.00 7,350.64 4,973.77 7,350.64 6,597.28
**** Total segment assets 2,013,343.13 1,976,858.23 1,783,222.08 2,013,343.13 1,783,222.08 1,871,514.58
4. Segment liabilities **** **** **** **** **** ****
a Retail<br> Banking 1,075,549.50 1,063,337.34 977,391.31 1,075,549.50 977,391.31 1,019,845.49
b Wholesale<br> Banking 503,046.84 494,981.27 419,641.39 503,046.84 419,641.39 456,571.53
c Treasury 142,951.22 138,508.93 140,077.86 142,951.22 140,077.86 137,386.24
d Other<br> Banking 7,052.63 7,390.70 6,174.96 7,052.63 6,174.96 6,212.00
e Unallocated 13,100.00 13,100.00 13,100.00 13,100.00 13,100.00 13,100.00
**** Total segment liabilities 1,741,700.19 1,717,318.24 1,556,385.52 1,741,700.19 1,556,385.52 1,633,115.26
5. Capital employed 271,642.94 259,539.99 226,836.56 271,642.94 226,836.56 238,399.32
6. Total (4)+(5) 2,013,343.13 1,976,858.23 1,783,222.08 2,013,343.13 1,783,222.08 1,871,514.58

All values are in Indian Rupees.

Notes on standalone segmental results:
1. The disclosure<br> on segmental reporting has been prepared in accordance with Securities and Exchange Board of India (SEBI) circular no. CIR/CFD/FAC/62/2016<br> dated July 5, 2016 on Revised Formats for Financial Results and Implementation of Ind AS by Listed Entities.
2. "Retail<br> Banking" includes exposures of the Bank which satisfy the four criteria of orientation, product, granularity and low value of<br> individual exposures for retail exposures as per RBI guidelines. This segment also includes income from credit cards, debit cards,<br> third party product distribution and the associated costs.
RBI’s<br> Master Direction on Financial Statements – Presentation and Disclosures, requires to sub-divide ‘Retail banking’<br> into (a) Digital Banking (as defined in RBI circular on Establishment of Digital Banking Units dated April 7, 2022) and (b) Other<br> Retail Banking segment. Accordingly, the segmental results for retail banking segment is subdivided as below:
( in crore)
**** Sr. no. Particulars Segment<br><br> <br>revenue Segment<br><br> <br>results Segment<br><br> <br>assets Segment<br><br> <br>liabilities
**** Q3-2025 **** **** **** ****
Retail<br> Banking 39,437.70 5,332.36 776,300.69 1,075,549.50
(i) Digital<br> Banking 10,193.87 1,209.75 137,597.09 203,487.78
(ii) Other<br> Retail Banking 29,243.83 4,122.61 638,703.60 872,061.72
**** Q2-2025 **** **** **** ****
Retail<br> Banking 38,750.86 5,556.19 778,247.73 1,063,337.34
(i) Digital<br> Banking 10,051.48 1,492.86 140,009.42 201,963.08
(ii) Other<br> Retail Banking 28,699.38 4,063.33 638,238.31 861,374.26
**** Q3-2024 **** **** **** ****
Retail<br> Banking 34,000.52 4,288.46 690,053.22 977,391.31
(i) Digital<br> Banking 8,308.75 1,031.74 111,841.19 174,210.51
(ii) Other<br> Retail Banking 25,691.77 3,256.72 578,212.03 803,180.80
3. "Wholesale<br> Banking" includes all advances to trusts, partnership firms, companies and statutory bodies, by the Bank which are not included<br> under Retail Banking.
4. "Treasury"<br> primarily includes the entire investment and derivative portfolio of the Bank.
5. "Other<br> Banking" includes leasing operations and other items not attributable to any particular business segment of the Bank.
6. "Unallocated"<br> includes items such as tax paid in advance net of provision, deferred tax and provisions to the extent reckoned at the entity level.
For<br> and on behalf of the Board of Directors
/s/ Sandeep Batra
Sandeep Batra
Mumbai Executive Director
January 25, 2025 DIN-03620913

All values are in Indian Rupees.
ICICI Bank Limited
--- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
CIN-L65190GJ1994PLC021012
Registered Office: ICICI Bank Tower, Near Chakli Circle, Old Padra Road, Vadodara - 390<br> 007, Gujarat, Phone:<br> 0265-6722239
Corporate Office: ICICI Bank Towers, Bandra-Kurla Complex, Mumbai - 400 051, Maharashtra,<br> Phone:<br> 022-4008 8900
Website:<br> www.icicibank.com, Email: [email protected]
--- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
CONSOLIDATED<br> FINANCIAL RESULTS
(<br> in crore)
Sr. no. Particulars Three months ended Nine months ended Year ended
December 31, 2024 (Q3-2025) September 30, 2024 (Q2-2025) December 31, 2023 (Q3-2024) December 31, 2024 (9M-2025) December 31, 2023 (9M-2024) March 31, 2024 (FY2024)
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited)
1. Interest<br> earned (a)+(b)+(c)+(d) 47,037.12 46,325.78 40,865.23 137,944.55 116,909.20 159,515.92
a) Interest/discount<br> on advances/bills 33,799.92 33,140.75 30,030.69 98,696.26 85,619.44 116,589.78
b) Income<br> on investments 11,778.83 11,929.93 9,523.04 35,374.45 27,634.05 38,107.07
c) Interest<br> on balances with Reserve Bank of India and other inter-bank funds 822.27 836.46 680.86 2,376.47 1,962.63 2,649.88
d) Others 636.10 418.64 630.64 1,497.37 1,693.08 2,169.19
2**.** Other<br> income (e)+(f) 27,589.44 26,616.77 18,614.53 76,894.62 51,946.82 76,521.80
e) Premium<br> and other operating income from insurance business 18,181.62 16,779.41 10,587.45 48,528.09 28,963.65 45,852.81
f) Others 9,407.82 9,837.36 8,027.08 28,366.53 22,983.17 30,668.99
3. TOTAL INCOME (1)+(2) 74,626.56 72,942.55 59,479.76 214,839.17 168,856.02 236,037.72
4. Interest<br> expended 22,633.41 22,225.30 19,408.76 65,980.33 53,684.43 74,108.16
5. Operating<br> expenses (g)+(h)+(i) 32,242.27 30,838.91 23,908.69 91,152.34 67,876.37 97,782.79
g) Employee<br> cost 5,673.89 5,993.19 4,749.19 17,832.93 14,222.75 19,171.98
h) Claims<br> and benefits paid and other expenses pertaining to insurance business 18,884.48 17,341.60 11,931.49 50,872.75 32,326.33 50,260.12
i) Other<br> operating expenses 7,683.90 7,504.12 7,228.01 22,446.66 21,327.29 28,350.69
6. TOTAL EXPENDITURE EXCLUDING PROVISIONS AND CONTINGENCIES (4)+(5) 54,875.68 53,064.21 43,317.45 157,132.67 121,560.80 171,890.95
****
7. OPERATING PROFIT BEFORE PROVISIONS AND CONTINGENCIES (3)–(6) 19,750.88 19,878.34 16,162.31 57,706.50 47,295.22 64,146.77
****
8. Provisions<br> (other than tax) and contingencies 1,267.86 1,381.88 1,020.45 3,965.63 3,014.50 3,712.41
9. PROFIT<br> FROM ORDINARY ACTIVITIES BEFORE EXCEPTIONAL ITEMS AND TAX (7)–(8) 18,483.02 18,496.46 15,141.86 53,740.87 44,280.72 60,434.36
10. Exceptional<br> items .. .. .. .. .. ..
11. Add:<br> Share of profit in associates 18.28 45.19 259.96 120.34 846.45 1,073.77
12. PROFIT<br> FROM ORDINARY ACTIVITIES BEFORE TAX AND MINORITY INTEREST (9)–(10)+(11) 18,501.30 18,541.65 15,401.82 53,861.21 45,127.17 61,508.13
13. Tax<br> expense (j)+(k) 4,654.41 4,635.66 3,886.67 13,645.52 11,246.71 15,427.62
j) Current<br> tax 4,797.23 4,214.41 3,810.46 13,106.38 10,956.53 13,693.30
k) Deferred<br> tax (142.82) 421.25 76.21 539.14 290.18 1,734.32
14. Less:<br> Share of profit/(loss) of minority shareholders 963.52 958.22 462.55 2,688.71 1,295.61 1,824.14
15. NET<br> PROFIT FROM ORDINARY ACTIVITIES AFTER TAX (12)–(13)–(14) 12,883.37 12,947.77 11,052.60 37,526.98 32,584.85 44,256.37
16. Extraordinary<br> items (net of tax expense) .. .. .. .. .. ..
17. NET PROFIT FOR THE PERIOD (15)-(16) 12,883.37 12,947.77 11,052.60 37,526.98 32,584.85 44,256.37
18. Paid-up<br> equity share capital (face value Rs. 2/- each) 1,412.11 1,409.45 1,403.18 1,412.11 1,403.18 1,404.68
19. Reserves<br> excluding revaluation reserves 250,222.56
20. Earnings<br> per share (EPS) -
Basic<br> EPS before and after extraordinary items, net of tax expense (not annualised) (in Rs.) 18.26 18.39 15.77 53.29 46.55 63.19
Diluted<br> EPS before and after extraordinary items, net of tax expense (not annualised) (in Rs.) 17.95 18.05 15.47 52.31 45.65 61.96

All values are in Indian Rupees.
SUMMARISED<br> CONSOLIDATED BALANCE SHEET
(<br> in crore)
Particulars At
December 31, 2024 September 30, 2024 March 31, 2024 December 31, 2023
(Unaudited) (Unaudited) (Audited) (Unaudited)
Capital<br> and Liabilities **** **** **** ****
Capital 1,412.11 1,409.45 1,404.68 1,403.18
Employees<br> stock options/units outstanding 1,801.66 1,650.74 1,405.32 1,242.55
Reserves<br> and surplus 289,472.72 277,026.44 253,333.84 241,184.80
Minority<br> interest 15,642.90 15,586.37 13,888.42 7,431.64
Deposits 1,551,165.62 1,529,513.61 1,443,579.95 1,366,842.09
Borrowings<br> (includes subordinated debt) 217,007.20 219,760.55 207,428.00 200,966.94
Policyholders'<br> funds 294,558.26 306,679.41 281,318.33 273,564.40
Other<br> liabilities and provisions 160,427.09 164,884.99 161,704.49 115,382.83
Total<br> Capital and Liabilities 2,531,487.56 2,516,511.56 2,364,063.03 2,208,018.43
Assets **** **** **** ****
Cash<br> and balances with Reserve Bank of India 75,931.64 89,198.99 89,943.02 64,935.13
Balances<br> with banks and money at call and short notice 96,580.68 75,185.64 72,825.88 56,514.16
Investments 849,417.41 874,760.49 827,162.51 754,864.94
Advances 1,397,265.27 1,360,046.48 1,260,776.20 1,229,198.02
Fixed<br> assets 14,692.82 14,254.27 13,240.28 11,913.77
Other<br> assets 94,689.56 100,155.51 97,640.98 90,491.08
Goodwill<br> on consolidation 2,910.18 2,910.18 2,474.16 101.33
Total<br> Assets 2,531,487.56 2,516,511.56 2,364,063.03 2,208,018.43

All values are in Indian Rupees.
Notes on consolidated financial results:
1. The above consolidated<br> financial results have been approved by the Board of Directors at its meeting held on January 25, 2025.
2. The consolidated<br> financial results have been prepared in accordance with the recognition and measurement principles laid down in Accounting Standard<br> 25 “Interim Financial Reporting” (‘AS 25’), prescribed under Section 133 of the Companies Act, 2013, the<br> relevant provisions of the Banking Regulation Act, 1949, the circulars, guidelines and directions issued by the Reserve Bank of India<br> (“the RBI”) from time to time, the Insurance Regulatory and Development Authority of India (‘the IRDAI’)<br> (Preparation of Financial Statements and Auditors Report of Insurance companies) Regulations, 2002 (‘IRDAI Guidelines’)<br> applicable for insurance entities and other accounting principles generally accepted in India and, in case of overseas jurisdictions,<br> generally accepted accounting principles as applicable, and are in compliance with the presentation and disclosure requirements of<br> the Regulation 33 and Regulation 52(4) read with Regulation 63 of the Securities Exchange Board of India (Listing Obligations and<br> Disclosure Requirements) Regulations, 2015 (“SEBI Regulations”) as amended including relevant circulars issued by SEBI<br> from time to time.
3. There are no<br> changes in the significant accounting policies applied during 9M-2025 as compared to those applied in FY2024 except for classification<br> and measurement of investments. With effect from April 1, 2024, the Bank has implemented Master Direction issued by the RBI on Classification,<br> Valuation and Operation of investment Portfolio of Commercial Banks (Directions), 2023 (‘RBI Directions’) which has introduced<br> significant changes in the basis of classification and accounting of investments and recognition of fair valuation of gains and losses.<br> For the purpose of consolidation, the domestic group entities (except insurance subsidiaries), have aligned with the Bank’s<br> accounting policies including the aforesaid RBI Directions. Accordingly, the Group has accounted net transition gain of Rs. 2,058.31<br> crore (net of tax and minority interest) and 1,408.29 crore (net of tax and minority interest) in AFS Reserve and General Reserve<br> respectively in accordance with the RBI Directions. Subsequent changes in fair value of performing investments under AFS and Fair<br> Value Through Proft and Loss (‘FVTPL’) (including Held For Trading (‘HFT’)) categories at December 31, 2024<br> have been recognised through AFS Reserve and Profit and Loss account respectively.  Accordingly, the amounts for previous<br> periods are not comparable.
4. During Q3-2025,<br> the Bank has allotted 13,288,873 equity shares of 2 each pursuant to exercise of employee stock options/units.
5. At December 31,<br> 2024, the Bank has 18 subsidiaries (including three step-down subsidiaries) and six associates.
6. ICICI Lombard<br> General Insurance Company Limited ceased to be an associate and became a subsidiary of the Bank effective from February 29, 2024.<br> I-Process Services (India) Private Limited ceased to be an associate and became a subsidiary of the Bank effective from March 20,<br> 2024. Subsequently, I-Process Services (India) Private Limited became a wholly-owned subsidiary of the Bank effective from March<br> 22, 2024. Accordingly, the consolidated financial results for Q2-2025, Q3-2025 and 9M-2025, are not comparable with the previous<br> periods/year.
7. In accordance<br> with RBI guidelines, consolidated Pillar 3 disclosure (unaudited), leverage ratio, liquidity coverage ratio, net stable funding ratio<br> is available at https://www.icicibank.com/regulatory-disclosure.page.
8. Previous period/year<br> figures have been re-grouped/re-classified where necessary to conform to current period classification.
9. The joint statutory<br> auditors, B S R & Co. LLP, Chartered Accountants and C N K & Associates LLP, Chartered Accountants, have conducted limited<br> review and issued an unmodified report on the consolidated financial results for Q2-2025, Q3-2025 and 9M-2025. The consolidated financial<br> results for Q3-2024, 9M-2024 and FY2024 were reviewed/audited by the joint statutory auditors, M S K A & Associates, Chartered<br> Accountants and KKC & Associates LLP, Chartered Accountants, on which they had issued unmodified conclusion/opinion.
10. Rs. 1.00 crore<br> = 10.0 million.

All values are in Indian Rupees.
CONSOLIDATED<br> SEGMENTAL RESULTS
(<br> in crore)
Sr. no. Particulars Three months ended Nine months ended Year ended
December 31, 2024 (Q3-2025) September 30, 2024 (Q2-2025) December 31, 2023 (Q3-2024) December 31, 2024 (9M-2025) December 31, 2023 (9M-2024) March 31, 2024 (FY2024)
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited)
1. Segment revenue
a Retail<br> Banking 39,437.70 38,750.86 34,000.52 115,567.02 98,137.75 134,547.57
b Wholesale<br> Banking 21,119.32 20,388.83 19,454.81 60,900.30 52,907.71 71,780.22
c Treasury 34,051.79 33,563.89 29,356.10 100,267.22 83,380.45 113,701.83
d Other<br> Banking 2,171.80 2,075.55 1,747.71 5,744.77 4,811.91 6,403.40
e Life<br> Insurance 15,550.99 13,888.43 13,150.14 40,775.10 36,500.97 54,236.13
f General<br> Insurance 6,462.35 6,546.95 .. 19,184.87 .. 1,895.81
g Others 4,559.87 5,184.30 3,607.65 14,180.56 10,024.60 14,036.87
**** Total segment revenue 123,353.82 120,398.81 101,316.93 356,619.84 285,763.39 396,601.83
Less:<br> Inter segment revenue 48,727.26 47,456.26 41,837.17 141,780.67 116,907.37 160,564.11
**** Income from operations 74,626.56 72,942.55 59,479.76 214,839.17 168,856.02 236,037.72
2. Segmental results (i.e. Profit before tax and minority interest)
a Retail<br> Banking 5,332.36 5,556.19 4,288.46 15,127.62 13,363.06 18,849.17
b Wholesale<br> Banking 5,903.24 5,197.53 5,746.05 16,012.84 14,495.75 19,971.71
c Treasury 4,222.35 4,587.70 3,209.97 14,287.78 11,399.12 14,640.88
d Other<br> Banking 421.68 306.75 521.95 1,042.56 1,277.26 1,638.40
e Life<br> Insurance 375.72 286.36 232.10 922.31 688.89 923.23
f General<br> Insurance 960.09 919.03 .. 2,653.11 .. 220.47
g Others 1,791.61 2,164.03 1,674.77 5,638.75 4,386.80 6,009.70
**** Total segment results 19,007.05 19,017.59 15,673.30 55,684.97 45,610.88 62,253.56
Less:<br> Inter segment adjustment 524.03 521.13 531.44 1,944.10 1,330.16 1,819.20
Add:<br> Share of profit in associates 18.28 45.19 259.96 120.34 846.45 1,073.77
**** Profit before tax and minority interest 18,501.30 18,541.65 15,401.82 53,861.21 45,127.17 61,508.13
3. Segment assets
a Retail<br> Banking 776,300.69 778,247.73 690,053.22 776,300.69 690,053.22 719,313.62
b Wholesale<br> Banking 539,703.97 502,717.35 476,924.80 539,703.97 476,924.80 482,456.10
c Treasury 643,464.46 645,790.96 581,439.71 643,464.46 581,439.71 634,054.80
d Other<br> Banking 101,630.96 99,697.42 90,976.81 101,630.96 90,976.81 89,305.62
e Life<br> Insurance 313,562.01 326,637.20 290,291.18 313,562.01 290,291.18 298,795.29
f General<br> Insurance 67,543.65 67,534.00 .. 67,543.65 .. 62,831.70
g Others 96,324.74 103,293.30 81,565.42 96,324.74 81,565.42 87,996.61
h Unallocated 5,850.67 5,373.78 7,891.62 5,850.67 7,891.62 7,571.17
**** Total 2,544,381.15 2,529,291.74 2,219,142.76 2,544,381.15 2,219,142.76 2,382,324.91
Less:<br> Inter segment adjustment 12,893.59 12,780.18 11,124.33 12,893.59 11,124.33 18,261.88
**** Total segment assets 2,531,487.56 2,516,511.56 2,208,018.43 2,531,487.56 2,208,018.43 2,364,063.03
4. Segment liabilities
a Retail<br> Banking 1,075,549.50 1,063,337.34 977,391.31 1,075,549.50 977,391.31 1,019,845.49
b Wholesale<br> Banking 503,046.84 494,981.27 419,641.39 503,046.84 419,641.39 456,571.53
c Treasury 169,403.66 164,916.99 155,996.16 169,403.66 155,996.16 166,411.24
d Other<br> Banking 52,902.37 54,914.98 58,540.17 52,902.37 58,540.17 55,134.33
e Life<br> Insurance 302,174.49 315,258.92 279,465.00 302,174.49 279,465.00 287,991.47
f General<br> Insurance 53,531.30 53,159.31 .. 53,531.30 .. 50,358.96
g Others 81,986.50 89,536.30 71,178.20 81,986.50 71,178.20 76,768.05
h Unallocated 13,100.00 13,100.00 13,100.00 13,100.00 13,100.00 13,100.00
**** Total 2,251,694.66 2,249,205.11 1,975,312.23 2,251,694.66 1,975,312.23 2,126,181.07
Less:<br> Inter segment adjustment 12,893.59 12,780.18 11,124.33 12,893.59 11,124.33 18,261.88
**** Total segment liabilities 2,238,801.07 2,236,424.93 1,964,187.90 2,238,801.07 1,964,187.90 2,107,919.19
5. Capital employed 292,686.49 280,086.63 243,830.53 292,686.49 243,830.53 256,143.84
6. Total (4)+(5) 2,531,487.56 2,516,511.56 2,208,018.43 2,531,487.56 2,208,018.43 2,364,063.03

All values are in Indian Rupees.

Notes on consolidated segmental results:
1. The disclosure<br> on segmental reporting has been prepared in accordance with Securities and Exchange Board of India (SEBI) circular no. CIR/CFD/FAC/62/2016<br> dated July 5, 2016 on Revised Formats for Financial Results and Implementation of Ind AS by Listed Entities.
2. 'Retail Banking'<br> includes exposures of the Bank which satisfy the four criteria of orientation, product, granularity and low value of individual exposures<br> for retail exposures as per RBI guidelines. This segment also includes income from credit cards, debit cards, third party product<br> distribution and the associated costs.
3. 'Wholesale<br> Banking' includes all advances to trusts, partnership firms, companies and statutory bodies, by the Bank which are not included under<br> Retail Banking.
4. 'Treasury'<br> primarily includes the entire investment and derivative portfolio of the Bank.
5. 'Other Banking'<br> includes leasing operations and other items not attributable to any particular business segment of the Bank. Further, it includes<br> the Bank’s banking subsidiaries i.e. ICICI Bank UK PLC and ICICI Bank Canada.
6. 'Life Insurance'<br> represents ICICI Prudential Life Insurance Company Limited.
7. 'General Insurance'<br> represents ICICI Lombard General Insurance Company Limited.
8. 'Others' comprises<br> the consolidated entities of the Bank, not covered in any of the segments above.
9. 'Unallocated'<br> includes items such as tax paid in advance net of provision, deferred tax and provisions to the extent reckoned at the entity level.
10. ICICI Lombard<br> General Insurance Company Limited ceased to be an associate and became a subsidiary of the Bank effective from February 29, 2024.<br> I-Process Services (India) Private Limited ceased to be an associate and became a subsidiary of the Bank effective from March 20,<br> 2024. Subsequently, I-Process Services (India) Private Limited became a wholly-owned subsidiary of the Bank effective from March<br> 22, 2024. Accordingly, the consolidated segmental results for Q2-2025, Q3-2025 and 9M-2025, are not comparable with the previous<br> periods/year.
For<br> and on behalf of the Board of Directors
/s/ Sandeep Batra
Sandeep Batra
Mumbai Executive Director
January 25, 2025 DIN-03620913

Item 3.

B S R & Co. LLP C N K & Associates LLP
Chartered Accountants Chartered Accountants
14^th^ Floor, Central B Wing and North C Wing 3rd Floor, Mistry Bhavan,
Nesco IT Park 4, Nesco Center Dinshaw Vachha Road,
Western Express Highway, Goregaon (East) Churchgate
Mumbai – 400 063, India Mumbai- 400 020, India

Independent Auditors’ limited reviewreport on unaudited standalone financial results for the quarter ended 31 December 2024 and year to date results for the period from 1April 2024 to 31 December 2024 of the ICICI Bank Limited pursuant to Regulation 33 and Regulation 52(4) read with Regulation 63 of theSecurities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To the Board of Directors of

ICICI Bank Limited

1. We have reviewed the accompanying Statement of unaudited standalone financial results of ICICI Bank Limited<br>(hereinafter referred to as ‘the Bank’) for the quarter ended 31 December 2024 and year to date results for the period from<br>1 April 2024 to 31 December 2024 (‘the Statement’), being submitted by the Bank pursuant to the requirements of Regulation<br>33 and Regulation 52(4) read with Regulation 63 of the Securities and Exchange Board of India (‘the SEBI’) (Listing Obligations<br>and Disclosure Requirements) Regulations, 2015, as amended (‘the Listing Regulations’).
2. This Statement, which is the responsibility of the Bank’s management and approved by its Board of<br>Directors, has been prepared in accordance with the recognition and measurement principles laid down in Accounting Standard 25 “Interim<br>Financial Reporting” (‘AS 25’), prescribed under Section 133 of the Companies Act, 2013, read with relevant rules issued<br>thereunder, in so far as they apply to banks, the relevant provisions of the Banking Regulation Act, 1949, the circulars, guidelines and<br>directions issued by the RBI from time to time (‘the RBI Guidelines’) and other accounting principles generally accepted in<br>India, and in compliance with Regulation 33 and Regulation 52(4) read with Regulation 63 of the Listing Regulations. Our responsibility<br>is to issue a report on the Statement based on our review.
--- ---
3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410<br>“Review of Interim Financial Information Performed by the Independent Auditor of the Entity”, issued by the Institute of Chartered<br>Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial<br>and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted<br>in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant<br>matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
--- ---
--- ---

Page 1 of 2

4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that<br>the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid accounting<br>standard and other accounting principles generally  accepted in India and the RBI guidelines, has not disclosed the information<br>required to be disclosed in terms of Regulation 33 and Regulation 52(4) read with Regulation 63 of the Listing Regulations, including<br>the manner in which it is to be disclosed, or that it contains any material misstatement or that it has not been prepared in accordance<br>with the relevant prudential norms issued by the RBI in respect of income recognition, asset classification, provisioning and other related<br>matters.
5. The standalone financial results of the Bank for the year ended 31 March 2024 were audited jointly by<br>the predecessor auditors whose report dated 27 April 2024 had expressed an unmodified opinion. The standalone financial results of the<br>Bank for corresponding quarter ended 31 December 2023 and corresponding period from 1 April 2023 to 31 December 2023 were reviewed jointly<br>by the predecessor auditors whose report dated 20 January 2024 had expressed an unmodified conclusion.
--- ---

Our review report is not modified in respect of the above matters.

For B S R & Co. LLP<br><br> <br><br><br> <br>Chartered Accountants<br><br> <br><br><br> <br>Firm Registration no.: 101248W/W-100022 For C N K & Associates LLP<br><br> <br><br><br> <br>Chartered Accountants<br><br> <br><br><br> <br>Firm Registration no.: 101961W/W100036
/s/ Ashwin Suvarna<br><br> <br>Ashwin Suvarna<br><br> <br><br><br> <br>Partner<br><br> <br>Membership No.: 109503 /s/ Manish Sampat<br><br> <br>Manish Sampat<br><br> <br><br><br> <br>Partner<br><br> <br>Membership No.: 101684
UDIN: 25109503BMOQAF3445 UDIN: 25101684BMMLKR7991
Place: Mumbai Place: Mumbai
Date: 25 January 2025 Date: 25 January 2025

Page 2 of 2

Item 4.

B S R & Co. LLP C N K & Associates LLP
Chartered Accountants Chartered Accountants
14^th^ Floor, Central B Wing and North C Wing 3rd Floor, Mistry Bhavan,
Nesco IT Park 4, Nesco Center Dinshaw Vachha Road,
Western Express Highway, Goregaon (East) Churchgate
Mumbai – 400 063, India Mumbai- 400 020, India

Limited review report on unaudited quarterlyconsolidated financial results and consolidated year-to-date results for quarter ended 31 December 2024 and year to date results for theperiod from 1 April 2024 to 31 December 2024 of ICICI Bank Limited pursuant to Regulation 33 and Regulation 52(4) read with Regulation63 of the of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To the Board of Directors of

ICICI Bank Limited

1. We have reviewed the accompanying Statement of unaudited consolidated financial results of ICICI Bank<br>Limited (hereinafter referred to as “the Parent”), and its subsidiaries (the Parent and<br>its subsidiaries together referred to as “the Group”), and its share of the net profit after tax of its associates for the<br>quarter ended 31 December 2024 and year to date results for the period from 1 April 2024 to 31 December 2024 (“the Statement”),<br>being submitted by the Parent pursuant to the requirements of Regulation 33 and Regulation 52(4) read with Regulation 63 of the Securities<br>and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“Listing Regulations”),<br>except for the disclosures prescribed by the Reserve Bank of India (the 'RBI') relating to consolidated Pillar 3 disclosures as at 31<br>December 2024, including leverage ratio, liquidity coverage ratio and net stable funding ratio under Basel III Capital Regulations as<br>have been disclosed on the Bank's website and in respect of which a link has been provided in Note 7 to the Statement and have not been<br>reviewed by us.
2. This Statement, which is the responsibility of the Parent’s management and approved by the Parent’s<br>Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Accounting Standard 25<br>“Interim Financial Reporting” (“AS 25”), prescribed under Section 133 of the Companies Act, 2013, read<br>with relevant rules issued thereunder, in so far as they apply to banks, the relevant provisions of the Banking Regulation Act, 1949,<br>the circulars, the guidelines and directions issued by the Reserve Bank of India (RBI) (“RBI Guidelines”) and guidelines issued<br>by Insurance Regulatory and Development Authority of India (“IRDAI guidelines”) as applicable, and other accounting principles<br>generally accepted in India and in compliance with Regulation 33 and Regulation 52(4) read with Regulation 63 of the Listing Regulations.<br>Our responsibility is to express a conclusion on the Statement based on our review.
--- ---
3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410<br>“Review of Interim Financial Information Performed by the Independent Auditor of the Entity”, issued by the Institute of Chartered<br>Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial<br>and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted<br>in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant<br>matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
--- ---

We also performed procedures in accordance with the circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.

4. The Statement includes the results of the entities mentioned in Annexure 1.
--- ---
B S R & Co. LLP C N K & Associates LLP
--- ---
Chartered Accountants Chartered Accountants
5. Based on our review conducted and procedures performed as stated in paragraph<br>3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 6 below, nothing has come<br>to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement<br>principles laid down in the aforesaid Accounting Standard, RBI Guidelines, IRDAI guidelines, as applicable and other accounting principles<br>generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 and Regulation 52(4)<br>read with Regulation 63 of the Listing Regulations, including the manner in which it is to be disclosed, except for the disclosures relating<br>to consolidated Pillar 3 disclosure as at 31 December 2024, including leverage ratio, liquidity coverage ratio and net stable funding<br>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<br>in Note 7 to the Statement and have not been reviewed by us.
--- ---
6. We did not review the interim financial information of 6 subsidiaries included in the Statement, whose<br>interim financial information reflect total assets (before consolidation adjustments) of Rs. 445,577.08 crores as at 31 December 2024<br>and total revenues (before consolidation adjustments) of Rs. 24,936.31 crores and Rs. 69,082.67 crores, total net profit after tax (before<br>consolidation adjustments) of Rs. 1,899.31 crores and Rs. 5,589.45 crores, for the quarter ended 31 December 2024 and for the period from<br>1 April 2024 to 31 December 2024 respectively, as considered in the Statement. These interim financial information have been reviewed<br>by other auditors whose reports have been furnished to us by the Parent’s management and our conclusion on the Statement, in so<br>far as it relates to the amounts and disclosures included in respect of these subsidiaries, is based solely on the reports of the other<br>auditors and the procedures performed by us as stated in paragraph 3 above.
--- ---

Further, 3 subsidiaries whose interim financial information reflects total assets of Rs. 32,262.16 crores (before consolidation adjustments) as at 31 December 2024 and total revenues of Rs. 1,593.94 crores and Rs. 4,934.12 crores (before consolidation adjustments) and total net profit after tax of Rs. 497.29 crores and Rs. 1,411.25 crores (before consolidation adjustments) for the quarter ended 31 December 2024 and for the period from 1 April 2024 to 31 December 2024 respectively, as considered in the Statement has been reviewed by only one of the joint auditors of the Bank and our conclusion on the Statement in so far as it relates to the amounts and disclosures included in respect of this subsidiary, is based solely on the review report issued by the said auditors of the subsidiary company and the procedures performed as stated in paragraph 3 above.

Our conclusion is not modified in respect of this matter.

7. The Statement includes the financial information of 9 subsidiaries which have not been reviewed, whose<br>interim financial information reflect total assets (before consolidation adjustments) of Rs. 52,202.80 crores as at 31 December 2024 and<br>total revenue (before consolidation adjustments) of Rs. 820.61 crores and Rs. 2,532.05 crores and total net profit after tax (before consolidation<br>adjustments) of Rs. 165.87 crores and Rs. 542.02 crores for the quarter ended 31 December 2024 and for the period from1 April 2024 to<br>31 December 2024, respectively, as considered in the Statement. The Statement also includes the Group’s share of net profit after<br>tax of Rs. 18.28 crores and Rs. 120.34 crores for the quarter ended 31 December 2024 and for the period from 1 April 2024 to 31 December<br>2024, respectively in respect of 6 associates, based on their financial information which have not been reviewed. According to the information<br>and explanations given to us by the Parent’s management, these interim financial information are not material to the Group.

Our conclusion is not modified in respect of this matter.
B S R & Co. LLP C N K & Associates LLP
--- ---
Chartered Accountants Chartered Accountants
8. The joint statutory auditors of ICICI Prudential Life Insurance Company Limited ('ICICI Life'), vide their<br>review report dated 22 January 2025 have expressed an unmodified opinion and have reported in the 'Other Matter' section that ‘The<br>actuarial valuation of liabilities for life policies in force and for policies in respect of which premium has been discontinued but liability<br>exists as at 31 December 2024 is the responsibility of the Company's Appointed Actuary (the ‘Appointed Actuary’). The actuarial<br>valuation of these liabilities for life policies in force and for policies in respect of which premium has been discontinued but liability<br>exists as at 31 December 2024 has been duly certified by the Appointed Actuary and in his opinion, the assumptions for such valuation<br>are in accordance with the guidelines and norms issued by the Insurance Regulatory and Development Authority of India ('IRDAI') and the<br>Institute of Actuaries of India in concurrence with the Authority. The joint auditors have relied upon the Appointed Actuary's certificate<br>in this regard for forming their opinion on the valuation of liabilities for life policies in force and for policies in respect of which<br>premium has been discontinued but liability exists, as contained in the group reporting pack of the Company’.
--- ---

Our conclusion is not modified in respect of this matter.

9. The joint statutory auditors of ICICI Lombard General Insurance Company Limited ('ICICI General'), vide<br>their review report dated 17 January 2025, have expressed an unmodified opinion and have reported in the 'Other Matter' section that,<br>'The actuarial valuation of liabilities in respect of Incurred But Not Reported ('IBNR'), Incurred But Not Enough Reported ('IBNER') and<br>Premium Deficiency Reserve ('PDR') is the responsibility of the Company's Appointed Actuary (the 'Appointed Actuary'). The actuarial valuation<br>of these liabilities, that are estimated using statistical methods as at 31 December 2024 has been duly certified by the Appointed Actuary<br>and in his opinion, the assumptions considered by him for such valuation are in accordance with the guidelines and norms issued by the<br>IRDAI and the Institute of Actuaries of India in concurrence with IRDAI. The joint statutory auditors have relied upon the Appointed Actuary's<br>certificate in this regard for forming their opinion on the valuation of liabilities for outstanding claims reserves and PDR contained<br>in the group reporting pack of the Company.’

Our conclusion is not modified in respect of this matter.

10. The consolidated financial results of the Group and its associates for the year ended 31 March 2024 were<br>audited jointly by the predecessor auditors whose report dated 27 April 2024 had expressed an unmodified opinion. The Consolidated financial<br>results of the group and its associates for the corresponding quarter ended 31 December 2023 and corresponding period from 1 April 2023<br>to 31 December 2023 were reviewed jointly by the predecessor auditors whose report dated 20 January 2024 had expressed an unmodified conclusion.

Our conclusion on the Statement is not modified in respect of this matters.

For B S R & Co. LLP<br><br> <br><br><br> <br>Chartered Accountants<br><br> <br><br><br> <br>Firm Registration no.: 101248W/W-100022 For C N K & Associates LLP<br><br> <br><br><br> <br>Chartered Accountants<br><br> <br><br><br> <br>Firm Registration no.: 101961W/W100036
/s/ Ashwin Suvarna<br><br> <br>Ashwin Suvarna<br><br> <br><br><br> <br>Partner<br><br> <br>Membership No.: 109503<br><br>UDIN: 25109503BMOQAG8131 /s/ Manish Sampat<br><br> <br>Manish Sampat<br><br> <br><br><br> <br>Partner<br><br> <br>Membership No.: 101684<br><br>UDIN: 25101684BMMLKS1128
Place: Mumbai Place: Mumbai
Date: 25 January 2025 Date: 25 January 2025
B S R & Co. LLP C N K & Associates LLP
--- ---
Chartered Accountants Chartered Accountants

Annexure 1

List of entities included in the statement.

Parent Entity

1. ICICI Bank Limited

Subsidiaries

2. ICICI Bank UK PLC
3. ICICI Bank Canada
--- ---
4. ICICI Securities Limited
--- ---
5. ICICI Securities Holdings Inc.
--- ---
6. ICICI Securities Inc.
--- ---
7. ICICI Securities Primary Dealership Limited
--- ---
8. ICICI Venture Funds Management Company Limited
--- ---
9. ICICI Home Finance Company Limited
--- ---
10. ICICI Trusteeship Services Limited
--- ---
11. ICICI Investment Management Company Limited
--- ---
12. ICICI International Limited
--- ---
13. ICICI Prudential Pension Funds Management Company Limited
--- ---
14. ICICI Prudential Life Insurance Company Limited
--- ---
15. ICICI Lombard General Insurance Company Limited
--- ---
16. ICICI Prudential Asset Management Company Limited
--- ---
17. ICICI Prudential Trust Limited
--- ---
18. I-Process Services (India) Private Limited
--- ---
19. ICICI Strategic Investments Fund
--- ---

Associates

20. NIIT Institute of Finance Banking and Insurance Training Limited
21. ICICI Merchant Services Private Limited
--- ---
22. India Infradebt Limited
--- ---
23. India Advantage Fund-III
--- ---
24. India Advantage Fund-IV
--- ---
25. Arteria Technologies Private Limited
--- ---
--- ---
ICICI Bank Limited<br><br><br><br>ICICI Bank Towers<br><br><br><br>Bandra Kurla Complex<br><br><br><br>Mumbai 400 051
--- ---
News Release January 25, 2025

PerformanceReview: Quarter ended December 31, 2024

· Profit before tax excluding treasury grew by 12.8% year-on-year to ₹ 15,289 crore (US$ 1.8 billion) in the quarter ended December 31, 2024 (Q3-2025)
· Core operating profit grew by 13.1% year-on-year to ₹ 16,516 crore (US$ 1.9 billion) in Q3-2025
· Excluding dividend income from subsidiaries, core operating profit grew by 14.7% year-on-year in Q3-2025
· Profit after tax grew by 14.8% year-on-year to ₹ 11,792 crore (US$ 1.4 billion) in Q3-2025
· Total period-end deposits grew by 14.1% year-on-year to ₹ 15,20,309 crore (US $ 177.6 billion) at December 31, 2024
· Average deposits grew by 13.7% year-on-year to ₹ 14,58,489 crore (US$ 170.3 billion) at December 31, 2024
· Average current account and savings account (CASA) ratio was 39.0% in Q3-2025
· Domestic loan portfolio grew by 15.1% year-on-year to ₹ 12,82,778 crore (US$ 149.8 billion) at December 31, 2024
· Net NPA ratio was 0.42% at December 31, 2024 compared to 0.42% at September 30, 2024
· Provisioning coverage ratio on non-performing loans was 78.2% at December 31, 2024
· Including profits for the nine months ended December 31, 2024 (9M-2025), total capital adequacy ratio was 16.60% and CET-1 ratio was 15.93% on a standalone basis at December 31, 2024

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 December 31, 2024 (Q3- 2025). The statutory auditors have conducted a limited review and have issued an unmodified report on the standalone and consolidated financial statements for the quarter ended December 31, 2024.

ICICI Bank Limited<br><br><br><br>ICICI Bank Towers<br><br><br><br>Bandra Kurla Complex<br><br><br><br>Mumbai 400 051

Profit& loss account

· Profit<br> before tax excluding treasury grew by 12.8% year-on-year to ₹ 15,289 crore (US$ 1.8<br> billion) in Q3-2025 from ₹ 13,551 crore (US$ 1.6 billion) in the quarter ended December<br> 31, 2023 (Q3-2024)
· Core<br> operating profit grew by 13.1% year-on-year to ₹ 16,516 crore (US$ 1.9 billion) in<br> Q3-2025 from ₹ 14,601 crore (US$ 1.7 billion) in Q3-2024
--- ---
· Excluding<br> dividend income from subsidiaries, core operating profit grew by 14.7% year-on-year in Q3-2025
--- ---
· Net<br> interest income (NII) increased by 9.1% year-on-year to ₹ 20,371 crore (US$ 2.4 billion)<br> in Q3-2025 from ₹ 18,678 crore (US$ 2.2 billion) in Q3-2024
--- ---
· The<br> net interest margin was 4.25% in Q3-2025 compared to 4.27% in Q2-2025 and 4.43% in Q3-2024
--- ---
· Non-interest<br> income, excluding treasury, increased by 12.1% year-on-year to ₹ 6,697 crore (US$ 782<br> million) in Q3-2025 from ₹ 5,975 crore (US$ 698 million) in Q3-2024
--- ---
· Fee<br> income grew by 16.3% year-on-year to ₹ 6,180 crore (US$ 722 million) in Q3-2025 from<br> ₹ 5,313 crore (US$ 621 million) in Q3-2024. Fees from retail, rural and business banking<br> customers constituted about 78% of total fees in Q3-2025
--- ---
· Treasury<br> gains were ₹ 371 crore (US$ 43 million) in Q3-2025 as compared to 123 crore (US$14<br> million) in Q3-2024
--- ---
· Provisions<br> (excluding provision for tax) were ₹ 1,227 crore (US$ 143 million) in Q3-2025 compared<br> to ₹ 1,050 crore (US$ 123 million) in Q3-2024 and ₹ 1,233 crore (US$ 144 million)<br> in Q2-2025
--- ---
· Profit<br> before tax grew by 14.5% year-on-year to ₹ 15,660 crore (US$ 1.8 billion) in Q3-2025<br> from ₹ 13,674 crore (US$ 1.6 billion) in Q3-2024
--- ---
· Profit<br> after tax grew by 14.8% year-on-year to ₹ 11,792 crore (US$ 1.4 billion) in Q3-2025<br> from ₹ 10,272 crore (US$ 1.2 billion) in Q3-2024
--- ---

Creditgrowth

The net domestic advances grew by 15.1% year-on-year and 3.2% sequentially at December 31, 2024. The retail loan portfolio grew by 10.5% year-on-year and 1.4% sequentially, and comprised 52.4% of the total loan portfolio at December 31, 2024. Including non-fund outstanding, the retail portfolio was 43.9% of the total portfolio at December 31, 2024. The business banking portfolio grew by 31.9% year-on-year and 6.4% sequentially at December 31, 2024. The rural portfolio grew by 12.2% year-on-year and 0.9% sequentially at December 31, 2024. The domestic corporate portfolio grew by 13.2% year-on-year and 4.3% sequentially at December 31, 2024. Total advances increased by 13.9% year-on-year and 2.9% sequentially to ₹ 13,14,366 crore (US$ 153.5 billion) at December 31, 2024.

ICICI Bank Limited<br><br><br><br>ICICI Bank Towers<br><br><br><br>Bandra Kurla Complex<br><br><br><br>Mumbai 400 051

The Bank continued to enhance the use of technology in its operations to provide simplified solutions to customers. The Bank has introduced DigiEase, a digital platform designed to streamline the customer onboarding process for business banking. This enhances operational efficiency and customer experience by integrating multiple digital services into a single seamless workflow. iLens, the retail lending platform, is being upgraded on an ongoing basis, with retail credit cards now integrated in the platform along with mortgages, personal loans and education loans.

The Bank will continue to make investments in the computing infrastructure and upgrade digital channels to further strengthen system resilience and simplify processes for enhancing customer experience.

Depositgrowth

Total period-end deposits increased by 14.1% year-on-year and 1.5% sequentially to ₹ 15,20,309 crore (US$ 177.6 billion) at December 31, 2024. Average deposits increased by 13.7% year-on-year and 2.1% sequentially to ₹ 14,58,489 crore (US$ 170.3 billion) in Q3-2025. Average current account deposits increased by 13.1% year-on-year and 4.5% sequentially in Q3-2025. Average savings account deposits increased by 12.3% year-on-year and 1.3% sequentially in Q3-2025.

With the addition of 129 branches during Q3-2025, the Bank had a network of 6,742 branches and 16,277 ATMs & cash recycling machines at December 31, 2024.

Assetquality

The gross NPA ratio was 1.96% at December 31, 2024 compared to 1.97% at September 30, 2024. The net NPA ratio was 0.42% at December 31, 2024 compared to 0.42% at September 30, 2024. The gross NPA additions were ₹ 6,085 crore (US$ 711 million) in Q3-2025 compared to ₹ 5,916 (US$ 691 million) in Q1-2025 and ₹ 5,073 crore (US$ 593 million) in Q2-2025. The Bank typically witnesses higher NPA additions from the kisan credit card portfolio in the first and third quarter of a fiscal year. Recoveries and upgrades of NPAs, excluding write-offs and sale, were ₹ 3,392 crore (US$ 396 million) in Q3-2025 compared to ₹ 3,292 crore (US$ 384 million) in Q1-2025 and ₹ 3,319 crore (US$ 388 million) in Q2-2025. The net additions to gross NPAs, excluding write-offs and sale, were ₹ 2,693 crore (US$ 315 million) in Q3-2025 compared to ₹ 2,624 (US$ 306 million) in Q1-2025 and ₹ 1,754 crore (US$ 205 million) in Q2-2025. The Bank has written-off gross NPAs amounting to ₹ 2,011 crore (US$ 235 million) in Q3-2025. The provisioning coverage ratio on non-performing loans was 78.2% at December 31, 2024.

ICICI Bank Limited<br><br><br><br>ICICI Bank Towers<br><br><br><br>Bandra Kurla Complex<br><br><br><br>Mumbai 400 051

Excluding NPAs, the total fund based outstanding to all borrowers under resolution as per the various extant regulations/guidelines declined to ₹ 2,107 crore (US$ 246 million) or 0.2% of total advances at December 31, 2024 from ₹ 2,546 crore (US$ 297 million) at September 30, 2024. The Bank holds provisions amounting to ₹ 691 crore (US$ 81 million) against these borrowers under resolution, as of December 31, 2024. In addition, the Bank continues to hold contingency provisions of ₹ 13,100 crore (US$ 1.5 billion) at December 31, 2024.

The loan and non-fund based outstanding to performing corporate borrowers rated BB and below was ₹ 2,193 crore (US$ 256 million) at December 31, 2024 compared to ₹ 3,386 crore (US$ 395 million) at September 30, 2024.

Capitaladequacy

Including profits for the nine months ended December 31, 2024 (9M-2025), the Bank’s total capital adequacy ratio at December 31, 2024 was 16.60% and CET-1 ratio was 15.93% compared to the minimum regulatory requirements of 11.70% and 8.20% respectively.

Consolidatedresults

The consolidated profit after tax increased by 16.6% year-on-year to ₹ 12,883 crore (US$ 1.5 billion) in Q2-2025 from ₹ 11,053 crore (US$ 1.3 billion) in Q3-2024.

Consolidated assets grew by 14.7% year-on-year to ₹ 25,31,488 crore (US$ 295.7 billion) at December 31, 2024 from ₹ 22,08,018 crore (US$ 257.9 billion) at December 31, 2023.

Key subsidiaries

The annualised premium equivalent of ICICI Prudential Life Insurance (ICICI Life) was ₹ 6,905 crore (US$ 806 million) in 9M-2025 compared to ₹ 5,430 crore (US$ 634 million) in 9M-2024. Value of New Business (VNB) of ICICI Life was ₹ 1,575 crore (US$ 184 million) in 9M-2025 compared to ₹ 1,451 crore (US$ 169 million) in 9M-2024. The VNB margin was 22.8% in 9M-2025 compared to 24.6% in FY2024 and 26.7% in 9M-2024. The profit after tax increased to ₹ 803 crore (US$ 94 million) in 9M-2025 compared to ₹ 679 crore (US$ 79 million) in 9M-2024 and ₹ 326 crore (US$ 38 million) in Q3-2025 compared to ₹ 227 crore (US$ 27 million) in Q3-2024.

The Gross Direct Premium Income (GDPI) of ICICI Lombard General Insurance Company (ICICI General) was ₹ 6,214 crore (US$ 726 million) in Q3-2025 as compared to ₹ 6,230 crore (US$ 728 million) in Q3-2024. The combined ratio stood at 102.7% in Q3-2025 compared to 103.6% in Q3-2024. The profit after tax of ICICI General increased by 67.9% to ₹ 724 crore (US$ 85 million) in Q3-2025 from ₹ 431 crore (US$ 50 million) in Q3-2024. With effect from October 1, 2024,

ICICI Bank Limited<br><br><br><br>ICICI Bank Towers<br><br><br><br>Bandra Kurla Complex<br><br><br><br>Mumbai 400 051

long-term products are accounted on 1/n basis, as mandated by IRDAI, hence Q3 numbers are not fully comparable.

The profit after tax of ICICI Prudential Asset Management Company, as per Ind AS, increased to ₹ 632 crore (US$ 74 million) in Q3-2025 from ₹ 546 crore (US$ 64 million) in Q3-2024.

The profit after tax of ICICI Securities, on a consolidated basis, as per Ind AS, increased to ₹ 504 crore (US$ 59 million) in Q3-2025 from ₹ 466 crore (US$ 54 million) in Q3-2024.

ICICI Bank Limited<br><br><br><br>ICICI Bank Towers<br><br><br><br>Bandra Kurla Complex<br><br><br><br>Mumbai 400 051

Summary Profitand Loss Statement (as per standalone Indian GAAP accounts)

crore
**** FY2024 Q3-2024 9M-2024 Q2-2025 Q3-2025 9M-2025
**** Audited Unaudited Unaudited Unaudited Unaudited Unaudited
Net interest income 74,306 18,678 55,213 20,048 20,371 59,972
Non-interest income 22,949 5,975 17,019 6,496 6,697 19,582
-<br> Fee income 20,796 5,313 15,360 5,894 6,180 17,564
-<br> Dividend income from subsidiaries 2,073 650 1,589 541 509 1,944
-<br> Other income 80 12 70 61 8 74
Less:
Operating<br> expense 39,133 10,052 29,430 10,501 10,552 31,583
Core operating profit^1^ 58,122 14,601 42,802 16,043 16,516 47,971
Total<br> net provision 3,643 1,050 2,924 1,233 1,227 3,792
-<br> Contingency provisions^2^ - - - - - -
-<br> Other provisions 3,643 1,050 2,924 1,233 1,227 3,792
Profit before tax excl. treasury 54,479 13,551 39,878 14,810 15,289 44,179
Treasury 9^3^ 123 290 680 371 1,664
Profit before tax 54,488 13,674 40,168 15,490 15,660 45,843
Less:
Provision<br> for taxes 13,600 3,402 9,987 3,744 3,868 11,246
Profit after tax 40,888 10,272 30,181 11,746 11,792 34,597

All values are in Indian Rupees.

1. Excluding treasury
2. The Bank continues to hold contingency<br> provision of ₹ 13,100 crore (US$ 1.5 billion) at December 31, 2024
--- ---
3. The treasury loss during Q4-2024 includes<br> the impact of transfer of negative balance of ₹ 340 crore (US$ 40 million) in Foreign<br> Currency Translation Reserve related to Bank’s Offshore Unit in Mumbai to profit and<br> loss account in view of the proposed closure of the Unit
--- ---
4. Prior period numbers have been re-arranged<br> wherever necessary
--- ---
ICICI Bank Limited<br><br><br><br>ICICI Bank Towers<br><br><br><br>Bandra Kurla Complex<br><br><br><br>Mumbai 400 051
--- ---

Summary balance sheet

₹ crore
**** 31-Dec-23 31-Mar-24 30-Sep-24 31-Dec-24
**** Unaudited Audited Unaudited Unaudited
Capital and liabilities **** **** **** ****
Capital 1,403 1,405 1,409 1,412
Employee stock options outstanding 1,243 1,405 1,651 1,802
Reserves and surplus 2,24,191 2,35,589 2,56,480 2,68,429
Deposits 13,32,315 14,12,825 14,97,761 15,20,309
Borrowings (includes subordinated debt) 1,26,871 1,24,968 1,24,493 1,27,731
Other liabilities and provisions 97,199 95,323 95,064 93,660
Total capital and liabilities 17,83,222 18,71,515 19,76,858 20,13,343
Assets **** **** **** ****
Cash and balances with<br><br> <br><br><br> <br>Reserve Bank of India 64,869 89,712 89,102 75,780
Balances with banks and<br><br> <br><br><br> <br>money at call and short notice 34,459 50,214 47,697 67,635
Investments 4,36,650 4,61,942 4,79,098 4,71,978
Advances 11,53,771 11,84,406 12,77,240 13,14,366
Fixed assets 10,354 10,860 11,546 11,922
Other assets 83,119 74,381 72,175 71,662
Total assets 17,83,222 18,71,515 19,76,858 20,13,343
1. Prior period figures have been re-grouped/re-arranged<br> wherever necessary
--- ---
ICICI Bank Limited<br><br><br><br>ICICI Bank Towers<br><br><br><br>Bandra Kurla Complex<br><br><br><br>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= ₹ 85.62

Item 5.

Annexure

Mr. Sandeep Batra(DIN: 03620913)

Mr. Sandeep Batra is an Executive Director on the Board of ICICI Bank and is responsible for the Corporate Centre since July 2018.

He is the Chairman of ICICI Prudential Life Insurance Company Limited, ICICI Prudential Asset Management Company Limited and ICICI Venture Funds Management Company Limited. He also serves on the Board of ICICI Lombard General Insurance Company Limited.

He has been with ICICI since 2000 and has worked in various areas across the group.

He is a Chartered Accountant and Company Secretary by qualification.

Mr. Batra is not related to any other director of the Bank. We affirm that

Mr. Batra is not debarred from holding the office of Director by virtue of any order of Securities and Exchange Board of India or any other such authority.

Mr. Rakesh Jha(DIN: 00042075)

Mr. Rakesh Jha is an Executive Director on the Board of ICICI Bank. He is responsible for the Retail, Wholesale, Markets, Treasury, Transaction Banking, Digital Channels, Brand & Marketing functions of the Bank.

He is the Chairperson of the Board of ICICI Lombard General Insurance Company Limited, ICICI Home Finance Company Limited and ICICI Securities Limited. He also serves on the Board of ICICI Venture Funds Management Company Limited.

He has been with ICICI since 1996 and has worked in various areas. He was the Group Chief Financial Officer in his previous role.

He has a management degree from the Indian Institute of Management, Lucknow and an engineering degree from the Indian Institute of Technology, Delhi.

Mr. Jha is not related to any other director of the Bank. We affirm that Mr. Jha is not debarred from holding the office of Director by virtue of any order of Securities and Exchange Board of India or any other such authority.

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 : January 25, 2025 By: /s/ Vivek Ranjan
Name: Vivek<br> Ranjan
Title: Assistant General Manager
Search and read filings like this one from Claude or ChatGPT with the SEC filings MCP server →