Internal capital generation remains strong as evidenced by a net income of $135.6 billion in 2026Q1, which provides the necessary liquidity to fund organic growth without immediate reliance on external equity.
| Metric | TTM | Mar'26 | Mar'25 | Mar'24 | Mar'23 | Mar'22 | Mar'21 | Mar'20 | Mar'19 | Mar'18 | Mar'17 | Mar'16 | Mar'15 | Mar'14 | Mar'13 | Mar'12 | Mar'11 | Mar'10 | Mar'09 | Mar'08 | Mar'07 | Mar'06 | Mar'05 | Mar'04 | Mar'03 | Mar'02 | Mar'01 | Mar'00 | Mar'99 |
|---|
| Cash from Operations | 0 | 673.25B | 822.2B | 1.57T | 577.21B | 795.97B | 1.38T | 654.83B | 465.98B | 299.35B | 376.5B | 277.09B | 330.91B | 143.38B | 187.41B | 176.01B | 184.57B | 340.02B | 84.89B | 204.7B | 134.2B | 84.24B | 84.24B | 73.54B | 5.07B | -6.14B | 8.89B | -8.3B | -7.58B |
| Operating CF Growth % | 0% | -18.12% | -47.73% | 172.49% | -27.48% | -42.33% | 110.77% | 40.53% | 55.66% | -20.49% | 35.87% | -16.26% | 130.79% | -23.49% | 6.47% | -4.64% | -45.72% | 300.54% | -58.53% | 52.53% | 59.31% | 0% | 14.55% | 1350.18% | 182.6% | -169.04% | 207.18% | -9.39% | - |
| Net Income | 528.91B | 735.92B | 516.28B | 596.84B | 347.82B | 255.39B | 240.49B | 102.91B | 42.09B | 77.83B | 98.58B | 102.99B | 124.52B | 109.9B | 95.88B | 81.37B | 186.5B | 44.02B | 39.01B | 33.7B | 26.29B | 24.36B | 24.36B | 18.02B | -7.96B | 2.05B | 1.3B | 1.4B | 508.47M |
| Depreciation & Amortization | 0 | 31.23B | 0 | 19.96B | 0 | 0 | 14.71B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6.09B | 8.2B | 1.66B | 605.28M | 393.01M | 169.49M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -4.31B | -243.64M | -419.04M | 131M | -127.12M |
| Other Non-Cash Items | -528.6B | -103.01B | 78.49B | -87.33B | 115.28B | 157.49B | 104.97B | 233.8B | 143.72B | 124.81B | 72.89B | 64.41B | 52.2B | 33.5B | 28.39B | 31.67B | -84.1B | 52.77B | 70.13B | 38.95B | 27.61B | 23.35B | 23.35B | 4.11B | 23.36B | 1.75B | 1.07B | 436.68M | 508.47M |
| Working Capital Changes | 0 | -561.4M | 227.42B | 1.04T | 114.11B | 383.09B | 1.02T | 318.12B | 280.18B | 96.7B | 205.04B | 109.7B | 154.18B | -19.94M | 63.14B | 62.97B | 82.17B | 243.23B | -24.25B | 132.06B | 80.31B | 36.53B | 36.53B | 45.33B | -10.47B | -10.48B | 5.96B | -10.66B | 974.58M |
| Cash from Investing | 0 | -130.14B | -2.37T | -1.46T | -2.53T | -1.94T | -629.87B | -1.54T | -1.23T | -1.35T | -477.9B | -816.27B | -856.05B | -736.26B | -585.39B | -583.92B | -314.84B | -13.85B | -122.64B | -839.92B | -904.56B | -917.6B | -917.6B | -396.47B | -1.14B | -133.22B | -28.4B | -21.09B | -17.88B |
| Purchase of Investments | 0 | 0 | -734.35B | 0 | -834.42B | -551.75B | 0 | -774.45B | -287.35B | -648.89B | -66.87B | -152.35B | -266.58B | -159.61B | -185.63B | -220.12B | -51.34B | -348.56B | -4.82B | -407.2B | -359.16B | -300.88B | -300.88B | -85.94B | -717.82B | -158.41B | -16.16B | -10.74B | -3.52B |
| Sale/Maturity of Investments | 0 | 0 | 75.89B | 0 | 0 | 0 | 0 | 0 | 33.11B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 98.17B | 0 | 0 | 0 | 0 | 0 | 682.7B | 15.93B | 11.45B | 10.04B | 1.06B |
| Net Investment Activity | 0 | 0 | -658.45B | 0 | -834.42B | -551.75B | 0 | -774.45B | -254.25B | -648.89B | -66.87B | -152.35B | -266.58B | -159.61B | -185.63B | -220.12B | -51.34B | -348.56B | 93.36B | -407.2B | -359.16B | -300.88B | -300.88B | -85.94B | -35.12B | -142.48B | -4.7B | -698.69M | -2.46B |
| Acquisitions | 0 | 0 | 653.7M | 0 | 2.94B | 1.19B | 0 | 274.72M | 463.82M | 268.28M | 151.26M | 711.35M | 373.67M | 2.04B | 698.91M | 192.44M | 690.62M | 3.18B | 825.7M | 1.09B | 1.68B | 324.3M | 324.3M | 314.32M | 0 | 0 | 0 | 0 | 0 |
| Other Investing | 0 | -92.84B | -1.66T | -1.42T | -1.67T | -1.37T | -612.99B | -744.88B | -962.58B | -693.86B | -398.43B | -656.05B | -577.19B | -570.36B | -394.22B | -357.54B | -255.45B | 337.8B | -202.56B | -420.15B | -538.83B | -610.44B | -610.44B | -305.09B | 40.9B | 10.82B | -22.4B | -19.87B | -14.96B |
| Cash from Financing | 0 | -46.61B | 2.06T | 137.65B | 1.47T | 1.51T | -546.67B | 1.32T | 747.16B | 1.14T | 251.95B | 717.64B | 521.31B | 523.71B | 420.35B | 556.64B | 119.12B | -208.39B | -86.71B | 692.85B | 974.91B | 879.97B | 879.97B | 367.99B | 26.97B | 182.39B | 30.03B | 45.76B | 34.96B |
| Dividends Paid | 0 | -78.53B | -71.24B | -55.99B | -35.56B | -14.09B | 0 | -9.54B | -11.56B | -17.32B | -33.12B | -34.93B | -31.36B | -26.92B | -22.16B | -20.24B | -15.2B | -13.53B | -15.52B | -11.03B | -8.64B | -7.65B | -7.65B | -6.21B | 0 | -974.54M | -279.36M | -218.34M | -211.86M |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock Issued | 0 | 13.61B | 14.54B | 11.71B | 9.63B | 8.12B | 154.6B | 5.91B | 3.45B | 3.98B | 1.72B | 2.86B | 3.54B | 758.29M | 446.79M | 629.34M | 1.39B | 1.11B | 569.36M | 196.27B | 1.96B | 80.38B | 80.38B | 31.68B | 0 | 0 | 0 | 0 | 0 |
| Net Stock Activity | 0 | 13.61B | 14.54B | 11.71B | 9.63B | 8.12B | 154.6B | 5.91B | 3.45B | 3.98B | 1.72B | 2.86B | 3.54B | 758.29M | 446.79M | 629.34M | 1.39B | 1.11B | 569.36M | 196.27B | 1.96B | 80.38B | 80.38B | 31.68B | 0 | 0 | 0 | 0 | 0 |
| Debt Issuance (Net) | 0 | 1000K | 1000K | 1000K | 1000K | 1000K | -1000K | 1000K | -1000K | 1000K | -1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | -1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | -1000K | 1000K | 1000K | 1000K | 1000K |
| Other Financing | 0 | 0 | 2T | 0 | 1.22T | 1.34T | 0 | 1.29T | 945B | 738.85B | 595.13B | 658.82B | 268.87B | 445.35B | 327.67B | -51.66B | 39.11B | -191.2B | -164.98B | 270.63B | 725.21B | 718.1B | 718.1B | 321.24B | 157.77B | 160.8B | 30.22B | 37.95B | 33.56B |
| Net Change in Cash | 0 | 509.57B | 0 | 263.12B | 0 | 0 | 197.18B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 30.9B | 43.03B | 10.57B | 16.38B | 9.49B |
| Exchange Rate Effect | 0 | 13.06B | -517.06B | 11.95B | 480.15B | -368.61B | -6.44B | -432.97B | 14.58B | -85.64B | -150.55B | -178.46B | 3.84B | 69.17B | -22.37B | -148.73B | 11.14B | -117.79B | 124.45B | -57.63B | -204.56B | -46.61B | -46.61B | 0 | 0 | 0 | 46.56M | 0 | 0 |
| Cash at Beginning | 0 | 2.14T | 0 | 1.36T | 0 | 0 | 1.28T | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 41.33B | 44.83B | 34.17B | 19.96B | 8.52B |
| Cash at End | 0 | 2.65T | 0 | 1.63T | 0 | 0 | 1.48T | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 72.23B | 87.85B | 44.74B | 36.33B | 18.01B |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Income Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | 0 | 635.95B | 773.94B | 1.54T | 552B | 777.05B | 1.36T | 634.67B | 454.62B | 288.84B | 363.76B | 268.51B | 318.25B | 135.04B | 181.17B | 169.57B | 175.84B | 333.75B | 70.64B | 191.04B | 125.96B | 77.64B | 77.64B | 67.79B | -1.85B | -7.7B | 7.59B | -8.82B | -8.05B |
| FCF Growth % | - | -17.83% | -49.62% | 178.27% | -28.96% | -43% | 114.8% | 39.6% | 57.4% | -20.6% | 35.47% | -15.63% | 135.67% | -25.46% | 6.84% | -3.57% | -47.31% | 372.49% | -63.03% | 51.66% | 62.24% | 0% | 14.54% | 3767.47% | 75.99% | -201.44% | 186.04% | -9.57% | - |
Regulatory capital adequacy constraints
According to recent quarterly filings, ICICI Bank has demonstrated a consistent upward trajectory in net income, reaching $135.6 billion in 2026Q1, which serves as the primary engine for internal capital generation and supports the bank's ability to fund organic growth without immediate reliance on external equity markets.
The steady rise in quarterly net income from $98.5 billion in 2023Q4 to current levels suggests that the bank is successfully converting its digital-first retail strategy into tangible bottom-line results. This internal capital generation is critical for maintaining regulatory buffers, especially as the bank navigates higher risk-weighting requirements on its unsecured consumer credit portfolio.
Based on the provided financial data, provision expenses have stabilized at $18.2 billion in 2026Q1, marking a significant departure from the anomalous $135.2 billion charge recorded in 2023Q4, which appears to reflect the successful conclusion of a multi-year effort to clean up legacy corporate asset quality issues.
The volatility in provisioning observed in late 2023 suggests a period of aggressive balance sheet de-risking that has since given way to a more normalized credit cost environment. Investors should monitor whether this lower provisioning level is sustainable or if it masks potential latent risks in the bank's rapidly expanding unsecured retail lending segment.
As reported in financial statements, the absence of traditional operating cash flow metrics in the provided data highlights the inherent limitations of standard cash flow analysis for depository institutions, where liquidity is primarily managed through deposit inflows and the active rotation of the bank's investment securities portfolio.
Because bank cash flow statements are dominated by loan originations and deposit movements, the lack of explicit OCF data necessitates a focus on the balance sheet to assess true liquidity. The bank's reliance on its integrated ecosystem for funding suggests that its liquidity position is more sensitive to retail deposit stickiness than to the cash flow statement's traditional line items.
Quick answers to the most common questions about buying IBN stock.
ICICI Bank Limited (IBN) generated $673.25B in net cash from operating activities in 2026. This reflects the cash generated directly from core business operations.
ICICI Bank Limited (IBN) generated $635.95B in free cash flow in 2026. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
ICICI Bank Limited (IBN) spent $37.30B on capital expenditures in 2026. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2026, ICICI Bank Limited (IBN) returned $78.53B to shareholders via cash dividends. This shows the company's commitment to returning capital to its equity investors.