Business Today’s 30th edition of Best Banks awards- ICICI Bank is a best bank, BoM is Best Mid Sized Banks and BOI MD & CEO is honoured as Business Transformation Leader (PSB)- Check Other Awards here

The 30th edition of Business Today’s Best Banks event concluded today at Mumbai with Union Minister Nitin Gadkari presenting awards to top-performing institutions across India’s financial sector, marking three decades of the flagship platform.

In a conversation with Group Editor Siddharth Zarabi, Gadkari said India has moved from fourth to third place, surpassing Japan to become the world’s third-largest economy, adding during conversation that rapid technological upgradation is underway across areas.

ICICI Bank was named "Bank of the Year" and Best Large Bank at the 2026 Business Today-KPMG Best Banks survey. Other key winners include Bank of Maharashtra (Mid-Sized), Karur Vysya Bank (Small), HSBC India (Foreign), and Jana Small Finance Bank. 

Read More -Ranking of All Banks in Business Today Banking & Economy Summit 2026

Business Today Best Banks Awards (2026 - 30th Edition) 

Bank of the Year & Best Large Bank: ICICI Bank

Best Mid-Sized Bank: Bank of Maharashtra

Best Small Bank: Karur Vysya Bank

Best Foreign Bank: HSBC India

Best Small Finance Bank: Jana Small Finance Bank

Best Large NBFC: Bajaj Finance

Best Housing Finance Company: Bajaj Housing Finance

Best Social Impact Bank: Indian Bank

Business Transformation Leader (PSB): Rajneesh Karnatak (MD & CEO, Bank of India)

Business Transformation Leader (Private/SFB): Sanjay Agarwal (MD & CEO, AU Small Finance Bank)

Innovation and Human Capital Excellence(NBFC): L&T Finance

Human Capital Excellence in Bank : HDFC Bank

Emerging Technology and AI: DBS Bank

Best Value-Added Services (Fintech): Perfios 

Lifetime Achievement Award: Shaktikanta Das, former Governor of the Reserve Bank of India

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ICICI Bank Q3 net profit falls 4 percent on-year

Despite stable core operating performance and better asset quality, ICICI Bank reported on Saturday a 4% year-over-year fall in standalone net profit for the fiscal third quarter due to a significant increase in provisions. 

For the quarter ending December 31, 2025 (Q3 FY26), the nation's second-largest private sector lender reported a standalone net profit of Rs 11,317.9 crore, up from Rs 11,792.4 crore in the same quarter the previous year. 

Net interest margin was 4.30 percent in Q3 FY26, up from 4.25 percent in the same period last year and 4.30 percent in Q2 FY26, while net interest income (NII) grew 7.7 percent year over year to Rs 21,932 crore from Rs 20,371 crore in Q3 FY25.

Operating expenses rose 13.2 percent year-on-year to Rs 11,944 crore from Rs 10,552 crore. The bank said this included Rs 145 crore of provisions on an estimated basis pursuant to the new Labour Codes. Treasury movements also weighed on the quarter, with the bank reporting a treasury loss of Rs 157 crore, compared with a gain of Rs 371 crore in Q3 FY25.

Core operating profit grew 6.0 percent year-on-year to Rs 17,513 crore in Q3 FY26, reflecting steady growth in net interest income and fee income.

Asset quality improved slightly, with the gross NPA ratio at 1.53 percent as of December 31, 2025, compared with 1.58 percent at September 30, 2025 and 1.96 percent a year earlier. The Gross NPAs fell to Rs 23,758 crore from Rs 27,745 crore a year ago.

The net NPA ratio stood at 0.37 percent at December 31, 2025, versus 0.39 percent at September 30, 2025 and 0.42 percent at December 31, 2024.

Provisions (excluding provision for tax) rose to Rs 2,556 crore in Q3 FY26 from Rs 1,227 crore in Q3 FY25. The bank said this included an additional standard asset provision of Rs 1,283 crore, made pursuant to the Reserve Bank of India’s annual supervisory review, in respect of a portfolio of agricultural priority sector credit facilities where the terms were found not to be fully compliant with regulatory requirements for classification as agricultural priority sector lending.

The domestic loan portfolio grew 11.5 percent year-on-year to Rs 14.31 lakh crore at December 31, 2025. Including profits for the nine months ended December 31, 2025, the bank said total capital adequacy ratio was 17.34 percent and CET-1 ratio was 16.46 percent on a standalone basis at December 31, 2025.

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ICICI Bank Q2 Net profit rises 5.2%

The standalone net profit of ICICI Bank, the second-biggest private sector bank in India, increased by 5.2% to ₹12,359 crore in the second quarter of FY26 from ₹11,746 crore in the same quarter of the previous fiscal year. 

 In Q2FY26, net interest income (NII), which is the difference between interest collected and interest spent, increased 7.4% year over year (YoY) to ₹21,529 crore from ₹20,048 crore. The net interest margin was 4.30 percent. 

 According to ICICI Bank, pre-provisions operating profit (PPOP) increased by 3.43% year over year to ₹17,297.96 crore from ₹16,723.18 crore in the September quarter.

Provisions (excluding provision for tax) declined to ₹914.11 crore in Q2FY26 compared to ₹1,233.09 crore YoY, and ₹1,814.57 crore, QoQ.

Asset quality of the bank improved sequentially. Gross Non-Performing Assets (GNPA) in Q2FY26 declined 3.57% to ₹23,849.66 crore from ₹24,732.65 crore in the previous quarter. Net NPA decreased 2.41% to ₹5,827 crore from ₹5,971.09 crore, QoQ.

Gross NPA as a percentage of Gross Advances, or Gross NPA ratio, in Q2FY26 dropped to 1.58% from 1.67%, QoQ, while Net NPA ratio eased to 0.39% from 0.41%, QoQ.

According to ICICI Bank, as of September 30, 2025, its net domestic advances increased by 3.3% sequentially and 10.6% year over year. As of September 30, 2025, the retail loan portfolio accounted for 52.1% of the overall loan portfolio, growing 6.6% year over year. 

 The rural banking portfolio fell 1.3% year over year, whereas the business banking portfolio increased 24.8%. As of September 30, 2025, total advances have risen by 3.2% QoQ and 10.3% YoY to ₹14,08,456 crore. 

 In comparison to the minimum regulatory standards of 11.70% and 8.20%, respectively, ICICI Bank's total capital adequacy ratio was 17.00% and its CET-1 ratio was 16.35% as of September 30, 2025.

In Q2FY26, average deposits climbed by 1.6% QoQ and 9.1% YoY to ₹15,57,449 crore. While average savings account deposits increased by 8.5% year over year, average current account deposits increased by 12.6% year over year. By the end of the September 2025 quarter, total deposits had increased to ₹16,12,825 crore, a 7.7% YoY increase. In Q2FY26, the CASA ratio was 39.2%.

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ICICI Bank Q1 profit rise 15.5%; NII up 10.6%

The second-largest private sector lender in India, ICICI Bank, exceeded analyst forecasts on Saturday by announcing a 15% year-over-year increase in net profit to Rs 12,768.21 crore for the fiscal first quarter. 

 The difference between interest earned and interest spent, or NII, increased 8.4% year over year to Rs 21,634.46 crore for the June quarter. The Street had predicted an 8 percent YoY increase in NII to Rs 21,091 crore and a 9.5 percent increase in net profit to Rs 12,112 crore for ICICI Bank in the April-June quarter.

Profit before tax (excluding treasury gains) increased 11.4 percent YoY to Rs 15,690 crore in Q1, while the bank's core operating profit jumped 13.6 percent YoY to Rs 17,505 crore. 

 The total revenue increased to Rs 51,451.81 crore from Rs 45,997.70 crore during the same period last year. Other income increased from Rs 7,001.92 crore to Rs 8,504.90 crore in the previous year. The quality of the assets increased annually. 

 In the quarter prior to this year, the gross non-performing asset ratio was 2.15 percent; it now stands at 1.67 percent. Additionally, the net NPA ratio decreased from 0.43 percent YoY to 0.41 percent. 

 However, the gross and net NPA ratios did not change sequentially. The April-June quarter's gross non-performing assets (NPA) additions were Rs 6,245 crore, up from Rs 5,916 crore in the same period last year.

In Q1FY26, recoveries and upgrades of non-performing assets (NPAs), other than write-offs and sales, totaled Rs 3,211 crore, up from Rs 3,292 crore  in Q1FY25. With write-offs and sales excluded, the net additions to gross non-performing assets (NPAs) in Q1FY26 were Rs 3,034 crore, while in Q1FY25 they were Rs 2,624 crore . In Q1FY26, the Bank wrote off gross non-performing assets (NPAs) totaling Rs 2,359 crore. 

 As of June 30, 2025, the non-performing loan provisioning coverage ratio stood at 75.3%. According to the announcement, as of June 30, 2025, the Bank has total provisions of Rs 22,664 crore , or 1.7% of loans, excluding special provisions on fund-based outstanding to borrowers categorized as non-performing.

At June 30, 2025, total period-end deposits were Rs 16,08,517 crore, up 12.8% year-over-year from Rs 16,10,348 crore on March 31, 2025. In Q1FY26, average deposits reached Rs 15,33,241 crore, up 11.2 percent year over year and 3.1 percent sequentially. 

 In Q1FY26, average current account deposits rose 4.6 percent sequentially and 11.2 percent on-year. In Q1FY26, average savings account deposits rose 3.6 percent sequentially and 7.6 percent year over year. The total amount of advances increased to Rs 13.64 lakh crore as of June 30, 2025. The CASA ratio was 38.7 percent on average.

As of June 30, 2025, total advances rose to Rs 13.64 lakh crore. The average CASA ratio stood at 38.7 percent.

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RBI imposed Penalty on 4 Major Banks

 

Four major banks, Bank of Baroda, IDBI Bank, Bank of Maharashtra, and ICICI Bank, have recently been hit with financial fines by the Reserve Bank of India (RBI) for noncompliance with key regulatory requirements. Following RBI examinations of the banks' operational and financial operations for the fiscal years 2023 and 2024, these fines were imposed. These fines are intended to improve adherence to banking regulations and guarantee that banks conduct themselves in an open and accountable manner. The RBI underlined, however, that these measures are only connected to regulatory matters and have no bearing on the legality of agreements or transactions between banks and their clients.

Bank of Baroda(BoB)

For failing to observe RBI guidelines regarding customer service and deposit interest rates, Bank of Baroda was fined Rs.61.40 lakh. In violation of the regulations, the bank permitted an insurance company to provide non-cash incentives to its employees. Additionally, some frozen or dormant savings accounts did not get timely interest credits. 

IDBI Bank 

In 2023, these problems were discovered during an RBI examination. Following a personal hearing and an assessment of the bank's response, the RBI chose to issue the penalty after the bank was requested to explain its actions.

For violating the RBI's guidelines under the Interest Subvention Scheme, which offers farmers interest relief on short-term loans made through the Kisan Credit Card (KCC), IDBI Bank was fined Rs.31.80 lakh.

Bank of Maharashtra 

BoM received a fine of Rs.31.80 lakh for failing to fully comply with Know Your Customer (KYC) rules. The bank opened several deposit accounts using Aadhaar-based e-KYC through OTP, in a non-face-to-face manner, but did not meet all the regulatory requirements for such processes. This was identified during the RBI’s evaluation for the financial year ending March 31, 2024. The bank’s explanations and submissions were reviewed, and the penalty was imposed for deficiencies in following the KYC norms.

ICICI Bank 

ICICI Bank faced the highest penalty of Rs.97.80 lakh. The bank failed to report a cyber security incident to the RBI within the required time, did not implement an effective system for alerting suspicious account activity, and also failed to send credit card statements to certain customers—yet charged them late payment fees. These failures were considered serious breaches of customer service and operational transparency. After a detailed inspection and review of the bank’s responses, the RBI imposed the penalty.These penalties are aimed at reinforcing the importance of following regulatory standards. RBI emphasized that these fines are not judgments on the legal validity of customer transactions or contracts, but are strictly based on gaps in compliance. Penalties have been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 51(1) of the Banking Regulation Act, 1949.

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ICICI Bank Q4 Net profit up 18% YoY

India's second largest private sector lender ICICI Bank reported its financial results for the fourth quarter of FY25, posting an 18 percent year-on-year rise in standalone net profit to Rs 12,629.58 crore. The earnings surpassed Street expectations, with analysts projecting a net profit of Rs 12,050 crore, according to a Moneycontrol poll. On a sequential basis, net profit rose 7.1 percent.

ICICI Bank said that its board has recommended a dividend of Rs 11 per share of face value of Rs 2 each, subject to requisite approvals.

ICICI Bank's gross non-performing asset (NPA) ratio shrunk to 1.67 percent as on March 31, 2025, from 1.96 percent a quarter ago, and 2.16 percent a year ago.

Similarly, the net NPA ratio of the bank stood at 0.39 percent in the reporting quarter, as compared to 0.42 percent in a quarter ago period and also 0.42 percent in a year ago period.

In absolute terms, gross NPA fell to Rs 24,166.18 crore as of March 31, 2025, as compared to Rs 27,745.33 crore as on December 31, 2024, and Rs 27,961.68 crore as on March 31, 2024.

Provisions (excluding provision for tax) for the quarter increased to Rs 891 crore in Q4FY25 compared to Rs 718 crore in Q4FY24 and Rs 1,227 crore in Q3FY25, release said.

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

Private lender's total deposit during the quarter ended March increased by 14 percent on-year, and 5.9 percent on a quarterly basis. In January-March quarter, total deposit of the bank stood at Rs 16.11 lakh crore at March 31, 2025.

Average deposits increased by 11.4 percent year-on-year and 1.9 percent sequentially to Rs 14.87 lakh crore in Q4FY25. Average current account deposits increased by 9.6 percent year-on-year and 1.4 percent sequentially in Q4FY25. Average savings account deposits increased by 10.1 percent year-on-year and 0.2 percent sequentially in Q4FY25.

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.

The net domestic advances grew by 13.9 percent year-on-year and 2.2 percent sequentially at March 31, 2025. The retail loan portfolio grew by 8.9 percent year-on-year and 2.0 percent sequentially, and comprised 52.4 percent of the total loan portfolio at March 31, 2025. Including non-fund outstanding, the retail portfolio was 43.8 percent of the total portfolio at March 31, 2025.

The business banking portfolio grew by 33.7 percent year-on-year and 6.2 percent sequentially at March 31, 2025. The rural portfolio grew by 5.1 percent year-on-year and declined by 1.5 percent sequentially at March 31, 2025. The domestic corporate portfolio grew by 11.9 percent year-on-year and declined by 0.4 percent sequentially at March 31, 2025.

Total advances increased by 13.3 percent year-on-year and 2.1 percent sequentially to Rs 13.42 lakh crore at March 31, 2025, release added.

Net interest income (NII) increased by 11.0 percent year-on-year to Rs 21,193 crore in Q4FY25 from Rs 19,093 crore in Q4FY24.

Net interest margin was 4.41 percent in Q4FY25 compared to 4.25 percent in Q3FY25 and 4.40 percent in Q4FY24. The net interest margin was 4.32 percent in FY25.

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Bank Employee Suicide, Family Alleges Workplace Harassment

 

A senior ICICI Bank employee, Vivek Samdarshi, allegedly died by suicide in Bengaluru, with his family accusing top bank officials of workplace harassment and excessive work pressure. Concerns regarding toxic work environments in corporate settings have been raised by the incident.

Vivek Samdarshi, the deceased, was the Regional Head of Sales at ICICI Bank and had been working with the bank for over five years. His family claims that he was under immense stress due to alleged workplace harassment and unrealistic performance expectations set by his seniors.

His elder brother, Vikash Samdarshi, has formally submitted a police case at Thalaghattapura Police Station, naming Raghu Kumar (Regional Head, ICICI Home Loan Department) and John Joseph (Zonal Head, ICICI Bank Home Loan Department) as the individuals allegedly responsible for abetting his suicide.

According to the complaint, Vivek had constantly confided in his family about the intense strain and ongoing humiliation he was enduring at work. Raghu Kumar, according to his brother, made demeaning comments, telling Vivek, "If you can't perform, you should die." John Joseph is accused of encouraging such toxic behavior instead of addressing these issues, which made Vivek's conditions worse.

The tragedy transpired in the early hours of March 7, 2025. Around 3 am, Vikash Samdarshi received a frightening phone call, notifying him that his brother was in critical condition. Despite prompt medical attention, Vivek succumbed to his injuries later that day. He was reported dead at 11:30 pm at DHEE Hospital.

The police have registered a case and are currently investigating the allegations against the bank officials. ICICI Bank hasn't yet released an official statement about the incident or the family's allegations, though.

Anna Sebastian Perayil, a 26-year-old employee of Ernst & Young in Pune, committed suicide a few months prior to this tragic incident. In public, Anna's mother had claimed that her daughter's death was brought on by a "excessive workload." Ernst & Young offered their sincere condolences after the incident and reaffirmed their commitment to improving working conditions in all of their Indian offices.

Vivek Samdarshi’s story has once again raised serious questions about job stress, harassment, and mental health difficulties in corporate organizations. According to experts, businesses should be proactive in preventing toxic workplace cultures and offering high-pressure workers mental health support.

The investigation into Vivek’s death is ongoing, and his family continues to demand strict action against those responsible.

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ICICI Bank Q3 Profit up 15% YoY; NII grows 9%

India's second largest private sector lender ICICI Bank on Saturday reported that its standalone Q3 profit after tax grew by 14.8% year-on-year (YoY) to Rs 11,792 crore while net interest income (NII) increased 9.1% YoY to Rs 20,371 crore during the December quarter.

It's net interest margin stood at 4.25% in Q3 FY25 compared to 4.27% in Q2 of FY25 and 4.43% in Q3 of FY24. The net NPA ratio was flat sequentially at 0.42% while provisioning coverage ratio on non-performing loans was 78.2% at December-end.

Also Read - Quarterly Results of all banks for Q3FY25

ICICI Bank's total period-end deposits increased by 14.1% YoY and 1.5% sequentially to Rs 15,20,309 crore. The average deposits increased by 13.7% YoY and 2.1% sequentially to Rs 14,58,489 crore during the quarter.

The average current account deposits increased by 13.1% YoY and 4.5% sequentially while average savings account deposits increased 12.3% YoY and 1.3% sequentially.

The average current account and savings account (CASA) ratio was 39% in Q3.

The net domestic advances grew by 15.1% YoY and 3.2% sequentially during the quarter. The retail loan portfolio grew by 10.5% YoY and 1.4% sequentially, and comprised 52.4% of the total loan portfolio.

The gross NPA ratio improved marginally to 1.96% in Q3 vs 1.97% in Q2 of FY25. The gross NPA additions were Rs 6,085 crore in Q3 compared to Rs 5,916 crore in Q1 of FY25 and Rs 5,073 crore in Q2 of FY25.

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