S&P Global Ratings anticipates that ICICI Bank will sustain robust earnings despite facing an increase in the cost of funds and one-time provisions related to alternative investment funds (AIF). The rating agency projects a return on assets of about 2.0%, supported by strong credit growth and low credit costs. ICICI Bank’s credit growth is expected to remain robust at 17-20%, particularly in the unsecured retail loans segment. Although net interest margins (NIMs) may decline by around 10 basis points due to rising deposit costs, the bank’s asset quality remains stable, helping to keep provisioning requirements in check. S&P highlighted ICICI Bank’s ability to manage risks in unsecured retail loans and maintain a better customer profile compared to peers.