ICICI Bank is well-positioned to report healthy operating performance, led by all-round delivery on all key metrics. Growth, it said, is becoming increasingly broad-based, led by business banking and improving corporate demand, while the bank continues to focus on strengthening its liability franchise. Having effectively leveraged margins, the bank is now focusing on fee income expansion and operating leverage as key levers to support earnings in the next phase of growth, even as the bank continues to invest in distribution and technology, it said. "Asset quality remains a key strength, with low credit costs (~45-50bps through-cycle) and strong provision buffers, ensuring earnings stability across cycles. With a disciplined, risk-calibrated approach and increasing focus on market share gains, ICICI Bank remains well-positioned to deliver consistent compounding. We, thus, estimate the bank to deliver a PPoP/PAT CAGR of 17.7 per cent/16 per cent over FY26-28E, leading to an RoA/RoE of 2.3 per cent/16.4 per cent," it said.