ICICI Bank shares in focus after hike in minimum balance requirement for new savings accounts

Time of India

5 days ago

ICICI Bank shares
will be in focus after the lender announced a steep increase in the minimum average balance requirement for new savings accounts opened on or after August 1, 2025.
In metro and urban areas, the minimum average monthly balance (MAMB) will rise to Rs 50,000 from Rs 10,000. For semi-urban branches, the threshold will increase to Rs 25,000 from Rs 5,000, while in rural branches it will double to Rs 10,000 from Rs 5,000. The revised MAMB applies only to new accounts.
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The bank has also updated its service charges for cash transactions. Customers will be allowed three complimentary deposits per month at branches or cash recycler machines. Beyond this, each transaction will incur a fee of Rs 150. A monthly deposit value of Rs 1 lakh will remain free of charge, after which Rs 3.5 per Rs 1,000 or Rs 150—whichever is higher—will apply. Third-party deposits are capped at Rs 25,000 per transaction.
Cash withdrawals at branches will follow the same rules—three free transactions per month, Rs 150 for each additional one, and a Rs 1 lakh monthly free limit. Above this, the same Rs 3.5 per Rs 1,000 or Rs 150 charge will apply. Third-party withdrawals will also be capped at Rs 25,000 per transaction.
Deposits made via cash recycler machines during non-working hours (4:30 p.m. to 9:00 a.m.) and on holidays will attract a Rs 50 fee per transaction if cumulative deposits exceed Rs 10,000 in a month. This is in addition to regular transaction charges.
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For ATM use at non-ICICI Bank ATMs in six metros—Mumbai, Delhi, Chennai, Kolkata, Bengaluru, and Hyderabad—customers will be charged Rs 23 per financial transaction and Rs 8.5 per non-financial transaction after three free transactions per month, including both types combined.
ICICI Bank Q1 Earnings
For Q1 FY26, ICICI Bank posted a 15.5% year-on-year rise in standalone net profit to Rs 12,768 crore, compared with Rs 11,059 crore in the year-ago period. Net interest income (NII) increased 10.6% YoY to Rs 21,635 crore, with net interest margin at 4.34%, slightly down from 4.41% in the previous quarter. Core operating profit rose 13.6% YoY to Rs 17,505 crore.
Provisions (excluding tax) climbed to Rs 1,815 crore from Rs 1,332 crore a year ago. Average deposits rose 11.2% YoY to Rs 15.33 lakh crore, with a CASA ratio of 38.7%. The domestic loan portfolio expanded 12% YoY to Rs 13.31 lakh crore.
Asset quality improved, with gross NPA at 1.67% versus 2.15% a year earlier, and net NPA at 0.41%. The provision coverage ratio stood at 75.3%. Retail loans rose 6.9% YoY, making up 52.2% of the loan book. Total advances grew 11.5% YoY to Rs 13.64 lakh crore.
ICICI Bank share price performance
On Friday, ICICI Bank shares ended 0.25% lower at Rs 1,436.40, while the Sensex fell 0.95%. The stock has gained 14% in the past six months and 23% over the past year, with a market capitalisation of Rs 10.25 lakh crore.
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