ICICI Bank Limited has informed the Exchange regarding Outcome of Board Meeting held on July 19, 2025 - Acquisition of 100% shareholding in ICICI Prudential Pension Funds Management Company Limited (ICICI PFM) from ICICI Prudential Life Insurance Company Limited (ICICI Life) to make ICICI PFM a wholly owned subsidiary of the Bank, subject to RBI, PFRDA and other necessary approvals.
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ICICI Bank reported strong Q1 FY2026 results with standalone net profit rising 15.4% year-on-year to ₹12,768 crore, driven by higher net interest income and stable asset quality with gross NPA ratio steady at 1.67%. Total income grew to ₹51,452 crore from ₹45,998 crore a year ago, while capital adequacy stood healthy at 16.31%. Separately, the board approved the acquisition of 100% shareholding in ICICI Prudential Pension Funds Management Company (ICICI PFM) from group company ICICI Prudential Life Insurance for ₹2,035 million in cash, making it a wholly-owned subsidiary. ICICI PFM, which manages pension funds under the National Pension Scheme, had revenue of ₹316.3 million but posted a small loss of ₹35.4 million in FY2025. The deal is subject to RBI, PFRDA and other regulatory approvals and is expected to close within a year.
Shareholders benefit from robust quarterly earnings growth and improving operating metrics, while the pension fund arm acquisition consolidates a related business within the bank to leverage its distribution strength and Customer 360 strategy. The deal size is small relative to the bank's scale, so the financial impact is limited, but it strengthens the group's presence in the pension management space.