ICICI
ICICI Bank
Is ICICI Halal?
Indian bank — riba-based conventional banking.
What You Should Know
ICICI Bank is a major Indian commercial bank. Its FY2026 standalone review reports INR 2,372,531 crore of assets and INR 88,075 crore of net interest income; the bank-style quantitative screen shows funding/assets 80.91% and advances-plus-cash/assets 75.20%. Core interest-based operations are not permissible.
⚠️ Concerns
- •Interest-based banking operations
- •Consumer credit products
- •FY2026 net interest income is approximately 74.87% of the total-income proxy
Current quantitative Sharia screen
Based on Performance review and audited financial statements figures for the period ended 2026-03-31; calculated 2026-07-14.
1,919,619 / 2,372,531
722,552 / 2,372,531
1,784,228 / 2,372,531
88,075 / 117,635
- Financial
- Fails
- Overall
- Fails
Interest-bearing funding is 80.91% of assets, liquidity is 30.45%, advances plus cash are 75.20% and net interest income is 74.87%; conventional banking independently fails the activity screen.
- Financial
- Fails
- Overall
- Fails
Funding and advances plus cash exceed the examined total-assets limits; conventional banking also independently fails.
- Financial
- Fails
- Overall
- Fails
Funding, liquidity and net interest income exceed the examined limits; this is a calculation against SAC ratios, not an official classification of an Indian-listed security.
- Financial
- Not calculated
- Overall
- Fails
Historical market-cap ratios are not stored; a different denominator cannot cure the failed conventional-banking business activity.
Business-activity disclosure
ICICI Bank is a conventional commercial bank whose core operations include interest-bearing deposits, lending, mortgages, cards, treasury and other credit products. The disclosed FY2026 net interest income is INR 88,075 crore, approximately 74.87% of the total-income proxy, independently confirming the riba-based business model.
Limitation: The review does not classify every fee, card, trading, advisory or subsidiary contract by Sharia status. That limitation does not change the result because conventional lending and deposit-taking are core operations.
Purification
Purification is not calculated because ICICI Bank fails at the core conventional-banking activity level. Net interest income is evidence of failure, not a donation amount that makes continued ownership compliant.
Inputs, assumptions and primary sources
- Amounts are INR crores from ICICI Bank's standalone March 31, 2026 balance sheet and FY2026 performance review.
- Interest-bearing funding uses deposits of INR 1,794,625 crore plus borrowings of INR 124,994 crore; this is a bank-specific funding proxy rather than a non-financial-company debt definition.
- Cash uses cash and balances with RBI of INR 121,024 crore plus balances with banks and money at call of INR 109,311 crore. Investments of INR 492,217 crore are treated as identifiable securities.
- Advances of INR 1,553,893 crore are used as the conservative receivables/financing-assets numerator for a bank.
- FY2026 standalone net interest income was INR 88,075 crore and non-interest income was INR 29,560 crore; total income is represented as INR 117,635 crore. NII is evidence of conventional activity, not a purification prescription.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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