In 2018, ICICI Bank reported its worst asset quality in a decade amid dwindling return ratios. Gross bad loans more than doubled in three years to 8.8%, while return on assets (RoA) halved to 0.9%. As Bakhshi moved to the granular retail lending from bulk corporate loans, gross bad loans fell to a seven-year low of 3.6% in fiscal 2022, while RoA crossed 2%.
