ICICI Bank’s March quarter results point to a deliberate recalibration. With the rate cycle now easing and credit demand uneven, the bank is shifting focus from aggressive lending to margin protection and targeted growth.Net profit rose 18% year-on-year to ₹126.3 billion, supported by an 11% increase in net interest income and a 16 basis point sequential expansion in net interest margin to 4.41%. However, the quarter was marked less by headline growth and more by its composition.
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