Sandeep Bakhshi

Managing Director and Chief Executive, ICICI Bank

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ICICI Bank beats profit estimates as FCNR(B) deposit inflows squeeze margins

Leading the bank through FCNR(B)-driven margin compression

India's second-largest private lender beat profit estimates on Saturday, but the growth masked a squeeze on its core earnings engine. Standalone net profit rose 20.1% year on year to ₹14,843 crore for the September quarter, ahead of the ₹14,366 crore analysts expected. Net interest margin—what the bank earns on each rupee lent minus what it pays on deposits—fell to 4.18%, down from 4.36% in the June quarter.

Updated 2 hours ago