ICICI Bank Releases FY2026 Annual Report Detailing GAAP Differences
ICICI Bank Limited has released its annual report in Form 20-F for the year ended March 31, 2026 (FY2026), providing financial statements under both Indian and U.S. Generally Accepted Accounting Principles (GAAP).The Form 20-F includes the consolidated financial statements of the Bank under Indian GAAP. It also presents a detailed reconciliation of the consolidated profit after tax and net worth determined under Indian GAAP to net income and stockholders' equity, respectively, according to U.S. GAAP. This comprehensive report was approved by the Audit Committee of the Board.
The principal differences between U.S. GAAP and Indian GAAP addressed in the report include loan loss allowances, business combinations, consolidation policies, valuation of securities and derivatives, amortization of fees and costs, securitization, income taxes, and fixed assets.
Financial performance metrics for FY2026 highlight key distinctions between the accounting frameworks used by the Bank. Consolidated net income under U.S. GAAP stood at Rs. 56,037 crore (US$ 5,972 million), while the consolidated profit after tax recorded under Indian GAAP was Rs. 54,208 crore (US$ 5,777 million).
Regarding capital structure, stockholders' equity as per U.S. GAAP amounted to Rs. 409,093 crore (US$ 43.6 billion). Conversely, the consolidated net worth under Indian GAAP was reported at Rs. 363,060 crore (US$ 38.7 billion) as of March 31, 2026.
The reconciliation process, which details the transition from Indian GAAP figures to U.S. GAAP metrics, is elaborated in note 21 of the consolidated financial statements within Form 20-F. The Bank notes that copies of the Form 20-F are available on the United States Securities and Exchange Commission (SEC) website or on the ICICI Bank website.
ICICIBANK Stock Price Movement
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