One of the most important factors influencing financial performance and long-term viability in the banking sector is capital structure. Banks can preserve financial stability, adhere to regulatory requirements, optimize the cost of capital, and increase shareholder value when they have the right mix of debt and equity. Maintaining an appropriate capital structure is crucial for attaining sustainable company development and successfully managing financial risk in the fiercely competitive Indian banking industry. Because of its solid capital basis, ongoing commercial growth, technological innovation, and careful risk management procedures, ICICI Bank has become one of India's top private sector banks. Therefore, it is crucial for bank management, investors, policymakers, and academics to comprehend the connection between capital structure and company success.

The current study examines how capital structure affected ICICI Bank's business expansion during a ten-year period, from FY2015–16 to FY2024–25. Based only on secondary data gathered from ICICI Bank's official annual reports, the study uses a quantitative, descriptive, and analytical research approach. Major financial metrics such as total assets, shareholders' equity, total advances, profit after tax, capital adequacy ratio (CAR), return on equity (ROE), and profits per share (EPS) are the focus of the examination.

These factors were chosen in order to assess the bank's overall business growth, financial performance, and capital position. The link between shareholders' equity and corporate growth was investigated using statistical methods such trend analysis, growth rate analysis, Compound Annual Growth Rate (CAGR), descriptive statistics, Pearson correlation, and simple linear regression.

The results show that ICICI Bank grew remarkably and steadily during the course of the research. From ₹7,206.95 billion in FY2015–16 to ₹21,182.40 billion in FY2024–25, total assets rose significantly, indicating strong corporate development. Additionally, the bank's capital foundation and financial resilience were strengthened by the steady increase in shareholders' equity. Similarly, notwithstanding brief swings brought on by economic difficulties and higher provisioning during FY2018–19 and the COVID-19 pandemic, advances, profit after tax, return on equity, and profits per share showed a favorable long-term trend. The bank maintained sufficient capital buffers despite pursuing business development, as evidenced by the Capital Adequacy Ratio continuously remaining over the statutory minimum set by the Reserve Bank of India.

A very substantial positive correlation between total assets and shareholders' equity was shown by the statistical study. A significant degree of relationship between the two variables was revealed by the correlation coefficient of 0.989 found by Pearson correlation analysis. Additionally, the regression study showed that shareholders' equity explained almost 97.9% of the variation in total assets (R² = 0.979), indicating that the bank's commercial expansion has been greatly aided by a solid equity basis. The statistical significance of the regression model confirmed that shareholders' equity plays a crucial role in ICICI Bank's commercial development. As a result, the alternative hypothesis was accepted and the null hypothesis, which claimed that there is no meaningful connection between shareholders' equity and company development, was rejected.

The analysis comes to the conclusion that ICICI Bank's sustainable development, profitability, and financial stability have been greatly aided by maintaining a healthy capital structure. The bank has been able to grow its business, increase shareholder returns, and successfully meet regulatory capital requirements while remaining resilient in the face of economic uncertainty thanks to a solid equity position. The results offer useful information to investors in assessing financial performance, bank management in creating efficient capital strategies, and legislators in bolstering regulatory frameworks for the banking industry.

Additionally, by offering actual information from one of India's biggest private sector banks using current financial data, the study adds to the body of knowledge already available on capital structure. In order to give more comprehensive evidence on the connection between capital structure and business growth in the Indian banking sector, future research may expand this study by adding more banks, macroeconomic factors, and sophisticated econometric tools.