Maharashtra GST Officials Conduct Raids On ICICI Bank Offices

ICICI Bank confirmed GST authorities conducted searches at three offices on December 4 under the Maharashtra GST Act, 2017, and the bank is fully cooperating. ICICI recently posted ₹11,745.9 crore Q2 FY25 profit (14.5% y-o-y growth) with improved asset quality (gross NPAs at 1.97%) and a 15.7% y-o-y domestic loan portfolio growth, reflecting strong financial performance and expanded margins.