ICICI Bank: ICRA reaffirms most ratings, withdraws some matured bond ratings

ICRA Limited announced on October 30, 2025, that it has reaffirmed credit ratings for various facilities and instruments of ICICI Bank Limited (IBL). The Issuer Rating remains [ICRA]AAA (Stable), with Basel III Tier II bonds (Rs. 10,000.00 crore) also reaffirmed at [ICRA]AAA (Stable). Basel III Tier I bonds (Rs. 5,000.00 crore) were reaffirmed at [ICRA]AA+ (Stable).

Additionally, infrastructure bonds (Rs. 54,239.00 crore) and long-term bonds (Rs. 40.41 crore) were reaffirmed at [ICRA]AAA (Stable). Fixed deposits retain an [ICRA]AAA (Stable) rating, and certificates of deposit (Rs. 50,000.00 crore) are reaffirmed at [ICRA]A1+.

In line with its policy, ICRA has withdrawn ratings for Basel II Lower Tier II bonds amounting to Rs. 1,479.00 crore and infrastructure bonds amounting to Rs. 2,261.00 crore. These withdrawals occurred because the instruments have been fully redeemed, with no outstanding amounts.

The total rated amount for ICICI Bank adjusted from Rs. 1,23,019.41 crore previously to Rs. 1,19,279.41 crore after these actions. The reaffirmed ratings reflect IBL's strong market position, robust capitalisation, and healthy asset quality metrics.