MUMBAI — On Saturday, July 18, 2026, India’s two largest private-sector banks published results for the same three months within hours of one another. HDFC Bank reported the lowest net interest margin in its history. ICICI Bank reported one that had not moved. Five weeks later the market has not forgotten which was which.
ICICI Bank closed Monday, August 24, 2026, at ₹1,415.00 on the National Stock Exchange, down ₹5.00 or 0.35 percent, and at ₹1,414.00 on the BSE, off the same 0.35 percent. It opened at ₹1,420.50, touched ₹1,425.50 and spent the afternoon working lower to ₹1,408.70 before recovering into the close. Volume was 53.07 lakh shares. The Nifty 50 fell 0.14 percent to 24,219.05 and the Sensex 0.22 percent to 77,369.11.
What separates the two banks is 110 basis points. ICICI’s net interest margin for the June quarter was 4.36 percent, against 4.32 percent in March and 4.34 percent a year earlier. HDFC Bank’s was 3.26 percent. Neither margin is expanding. ICICI’s has been flat within four basis points for a year, and flat, right now, is worth a great deal: the stock is 4.39 percent below its 52-week high while HDFC Bank sits 28.56 percent below its own.
ICICI Bank Share Price Today: NSE and BSE Close for August 24, 2026
| Measure | NSE · ICICIBANK | BSE · 532174 |
|---|---|---|
| Closing price | ₹1,415.00 | ₹1,414.00 |
| Previous close | ₹1,420.00 | ₹1,419.00 |
| Change | -₹5.00 (-0.35%) | -₹5.00 (-0.35%) |
| Open | ₹1,420.50 | ₹1,419.90 |
| Day’s high | ₹1,425.50 | ₹1,425.00 |
| Day’s low | ₹1,408.70 | ₹1,409.00 |
| Volume traded | 53.07 lakh shares | – |
| 52-week high | ₹1,480.00 (-4.39% from today’s close) | |
| 52-week low | ₹1,187.60 (+19.15% from today’s close) | |
| Market capitalisation | ₹10,16,176 crore | |
| Trailing P/E · Price to book | 18.1 · 2.69 | |
| Book value per share · Return on equity | ₹527 · 15.9% | |
| NSE closing prices for August 24, 2026, with BSE figures from the exchange’s own quote feed. Valuation ratios and market capitalisation are Screener’s consolidated figures. | ||
Four and a half percent off a 52-week high is, for practical purposes, near the top of the range. ICICI Bank has not spent this year being repriced. It has spent it holding a level while the rest of the private banking sector was marked down around it.
ICICI Bank Stock Code on NSE, BSE, NYSE and Global Data Feeds
| Exchange or provider | Code | Notes |
|---|---|---|
| NSE (National Stock Exchange) | ICICIBANK | Series EQ. Nifty 50 and Nifty Bank constituent |
| BSE (Bombay Stock Exchange) | 532174 | Scrip code. Group A, BSE Sensex constituent |
| ISIN | INE090A01021 | Depository identifier. Face value ₹2 |
| NYSE (American depositary shares) | IBN | Quoted near $29.60 on Monday. Two ordinary shares per ADS |
| Google Finance | NSE:ICICIBANK · BOM:532174 · NYSE:IBN | The exchange-prefixed format Google requires |
| Yahoo Finance | ICICIBANK.NS · ICICIBANK.BO · IBN | Suffix marks the exchange |
| ISIN, scrip code and the ₹2 face value are confirmed against the BSE’s company header feed and against the paid-up capital line of the bank’s own results filing. The ADS ratio is not printed on the quote page; two ordinary shares at Monday’s close convert to about $29.85 at an implied ₹94.80 to the dollar, against the $29.60 the ADS fetched, which is the ratio the arithmetic supports. | ||
ICICI Bank Q1 FY27: What the Filing Actually Says
The standalone accounts for the quarter ended June 30, 2026 are unambiguous. Interest earned came to ₹45,670.78 crore against interest expended of ₹21,286.43 crore, which is net interest income of ₹24,384 crore, up 12.7 percent on the year. Provisions fell to ₹1,260 crore from ₹1,815 crore. Profit after tax was ₹14,805 crore, up 15.9 percent.
| Measure | Q1 FY27 | Q4 FY26 | Q1 FY26 | Change YoY |
|---|---|---|---|---|
| Net interest income | ₹24,384 cr | ₹22,979 cr | ₹21,635 cr | +12.7% |
| Other income | ₹8,576 cr | ₹7,309 cr | ₹8,505 cr | +0.8% |
| Operating profit before provisions | ₹20,386 cr | ₹18,199 cr | ₹18,746 cr | +8.8% |
| Provisions (excluding tax) | ₹1,260 cr | ₹96 cr | ₹1,815 cr | -30.6% |
| Profit after tax | ₹14,805 cr | ₹13,702 cr | ₹12,768 cr | +15.9% |
| Net interest margin | 4.36% | 4.32% | 4.34% | +2 bps |
| Total advances | ₹16,31,260 cr | – | – | +19.6% |
| Total deposits (period end) | ₹18,33,586 cr | – | – | +14.0% |
| Average CASA ratio | 38.1% | – | – | – |
| Gross NPA · net NPA (customer assets) | 1.38% · 0.35% | 1.40% · 0.33% | 1.67% · 0.41% | -29 bps |
| Capital adequacy · CET-1 | 16.84% · 16.19% | 17.18% | 16.31% | – |
| Earnings per share (quarter, basic) | ₹20.65 | ₹19.15 | ₹17.91 | +15.3% |
| Standalone figures from ICICI Bank’s filed results for the quarter ended June 30, 2026 and the bank’s accompanying performance review. Net interest income is calculated by The Eastern Herald as interest earned less interest expended, which reproduces the bank’s own published figure. Provisions in the March quarter were unusually low at ₹96 crore, so the sequential comparison on that line is not meaningful. | ||||
One number in that table deserves suspicion rather than applause. Provisions of ₹1,260 crore are 30.6 percent lower than a year ago, and about a third of the fall in provisions drops straight to profit after tax. Take provisions back to last year’s level and the profit growth of 15.9 percent becomes something closer to 12 percent. That is still comfortably ahead of what HDFC Bank managed, but it is not the same story.
The Comparison the Market Is Making
Both banks report standalone under Indian GAAP, both for the three months to June 30, both filed on July 18. Setting the two side by side is as close to a controlled experiment as Indian banking offers.
| Measure | ICICI Bank | HDFC Bank | Advantage |
|---|---|---|---|
| Net interest margin | 4.36% | 3.26% | ICICI by 110 bps |
| Net interest income growth | +12.7% | +6.7% | ICICI |
| Advances growth | +19.6% | +15.4% | ICICI |
| Deposit growth | +14.0% | +13.3% | Broadly level |
| Profit after tax | ₹14,805 cr | ₹19,060 cr | HDFC Bank |
| Profit growth | +15.9% | +5.0% | ICICI |
| Gross NPA ratio | 1.38% | 1.17% | HDFC Bank |
| Capital adequacy | 16.84% | 19.60% | HDFC Bank |
| Price to book | 2.69 | 1.87 | HDFC Bank is cheaper |
| Distance from 52-week high | -4.39% | -28.56% | – |
| Both sets of figures are standalone and drawn from the banks’ own July 18, 2026 filings and investor material. The margins are not struck on identical bases: HDFC Bank calculates its margin on total assets, ICICI on interest-earning assets, so the 110 basis point gap overstates the true difference by a modest amount. The CASA figures are similarly not like for like, ICICI publishing an average and HDFC Bank a period-end mix, and are therefore left out of this table. | |||
HDFC Bank still earns the larger profit, carries the cleaner loan book and holds more capital. It is also the cheaper of the two on book value by a wide margin. What it does not have is the funding position, and in a year when Indian deposit competition has been the whole game, that is the column the market has chosen to weight. ICICI is lending 19.6 percent more than it was a year ago while paying for deposits that grew 14.0 percent. The gap between those two numbers is where a margin comes from.
ICICI Bank Share Price: Recent Sessions and the Range
| Date | Close (₹) | Change | Volume |
|---|---|---|---|
| August 14, 2026 | 1,417.00 | +0.73% | 60.98 lakh |
| August 17, 2026 | 1,415.30 | -0.12% | 56.06 lakh |
| August 18, 2026 | 1,412.00 | -0.23% | 83.45 lakh |
| August 19, 2026 | 1,402.00 | -0.71% | 103.04 lakh |
| August 20, 2026 | 1,411.90 | +0.71% | 84.25 lakh |
| August 21, 2026 | 1,420.00 | +0.57% | 45.65 lakh |
| August 24, 2026 | 1,415.00 | -0.35% | 53.07 lakh |
| NSE closing prices and volumes. Seven sessions inside an 18-rupee band, or 1.3 percent, with the heaviest turnover on August 19 at the bottom of it. | |||
Seven sessions have produced a range of ₹1,402 to ₹1,420, which is 1.3 percent. The floor of that band was tested once, on August 19, on the heaviest volume of the period, and it held. Above, ₹1,425.50 capped Monday and ₹1,480 is the twelve-month high.
What this article cannot tell you is how long the margin holds. ICICI’s own guidance is that the margin stays range-bound if policy rates do not move, which makes the whole position a bet on rates that the bank does not control. Nor does the filing separate how much of the quarter’s 4.36 percent came from ordinary lending and how much from non-recurring interest income, a distinction that matters when the sequential move is only four basis points. And the 30.6 percent fall in provisions is the kind of tailwind that cannot repeat indefinitely from a gross NPA ratio already down at 1.38 percent. The bank is being priced at 2.69 times book on the assumption that none of that reverses.
Elsewhere on Monday, TCS closed at ₹2,284.10, down 0.78 percent, and Steel Authority of India rose 3.57 percent as the metals complex extended a month-long run.
ICICI Bank’s June-quarter figures are drawn from the bank’s own filed standalone and consolidated results and from its performance review for the quarter ended June 30, 2026. Closing prices and the scrip identifiers were verified against the BSE’s own quote feed for scrip 532174.
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