IBN

ICICI Bank reported a 20.1% year-over-year increase in net profit to 148.4 billion Indian rupees in Q2 FY2027. The bank demonstrated strong core profitability through its customer-centric ecosystem strategy, balanced loan expansion across domestic and foreign markets with domestic credit growing 22.8% YoY, and maintained clean asset quality with net nonperforming assets at 0.3% of total advances. Management emphasized disciplined underwriting and deep contingency reserves to ensure balance sheet stability through economic cycles.

Smallest AI, a San Francisco-based AI research lab, has appointed Siddharth Sharma as President of Banking, Financial Services, and Insurance for India. Sharma, with 20+ years of experience at major Indian financial institutions including ICICI, YES Bank, Kotak Mahindra Bank, and CRED, will lead the company's go-to-market strategy and partnerships in the BFSI sector. The appointment follows Smallest AI's $21 million funding round and reflects growing demand for voice AI solutions in Indian languages for collections and customer service operations.