Bank of Maharashtra Reports 41.42% Growth in Q2 Net Profit to ₹2,310 Crore
Global Business Rises 25.16% to ₹7.06 Lakh Crore; Gross NPA Declines to 1.25%
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Pune:: Bank of Maharashtra has reported a strong financial performance for the quarter and half-year ended September 30, 2026, registering a 41.42% year-on-year increase in net profit to ₹2,310 crore for the second quarter of FY 2026–27, compared with ₹1,633 crore in the corresponding quarter of the previous financial year.
Bank of Maharashtra
Bank of Maharashtra Q2 results.
The bank’s operating profit rose 30.86% to ₹3,369 crore in Q2 FY27, against ₹2,574 crore in Q2 FY26. Net interest income (NII) increased 21.76% to ₹3,954 crore from ₹3,248 crore a year earlier. On a sequential basis, net profit grew 14.33%, operating profit increased 8.07%, and net interest income rose 4.89% over the June 2026 quarter.
The bank’s total global business expanded 25.16% year-on-year to ₹7,05,766 crore as of September 30, 2026, reflecting growth in both deposits and advances.
Strong Growth in Deposits and Advances
Total global deposits increased 21.50% to ₹3,76,407 crore, while gross global advances grew 29.61% to ₹3,29,359 crore. Net advances registered a year-on-year increase of 30.16% to ₹3,25,641 crore.
The bank continued to record growth across its Retail, Agriculture and MSME (RAM) business segments, which expanded 24.69% year-on-year. Retail advances rose 20.91% to ₹94,582 crore, while MSME advances grew 24.69% to ₹58,049 crore.
Deposits under the Current Account Savings Account (CASA) category increased 11.92% to ₹1,74,576 crore. However, the domestic CASA share stood at 46.47%, compared with 50.35% in September 2025.
Half-Year Net Profit Rises 34.22%
For the half-year ended September 30, 2026, Bank of Maharashtra reported a net profit of ₹4,330 crore, registering growth of 34.22% over ₹3,226 crore in the corresponding period of the previous year.
Operating profit increased 26.08% to ₹6,486 crore from ₹5,144 crore, while net interest income grew 18.12% to ₹7,724 crore, compared with ₹6,539 crore in the year-ago period.
Fee-based income rose 3.54% to ₹866 crore from ₹836 crore.
The bank also improved its cost-to-income ratio to 34.37% for the half-year, compared with 37.34% in the corresponding period last year, indicating improved operating efficiency.
Return on Assets (ROA) increased to 1.96% from 1.81%, while Return on Equity (ROE) improved to 25.29% from 22.30%.
Asset Quality Continues to Improve
The bank reported further improvement in asset quality during the quarter. Gross non-performing assets (GNPA) declined to 1.25% as of September 30, 2026, compared with 1.72% a year earlier and 1.45% at the end of June 2026.
Net non-performing assets (NNPA) fell to 0.12%, against 0.18% in September 2025 and 0.13% in June 2026.
The Provision Coverage Ratio stood at 98.53%, compared with 98.34% in September 2025. The ratio was 98.55% at the end of June 2026.
These indicators reflect the bank’s continued focus on strengthening asset quality and maintaining adequate provisions against potential credit risks.
Improved Profitability and Capital Position
The bank’s domestic Net Interest Margin (NIM) improved to 3.97%, while global NIM stood at 3.86% during the quarter. Return on Assets reached 2.02%, compared with 1.82% in Q2 FY26.
The cost-to-income ratio improved to 33.73% in Q2 FY27 from 37.10% in the corresponding quarter last year. It was 35.04% in the June 2026 quarter.
Bank of Maharashtra’s Basel III capital adequacy ratio stood at 18.51% as of September 30, 2026, with a Common Equity Tier 1 (CET1) ratio of 15.61%. The bank’s capital position provides a foundation to support its business expansion and lending activities.
Balance Sheet Expands
The bank’s balance sheet grew to ₹4,68,526 crore as of September 30, 2026, compared with ₹3,73,729 crore a year earlier.
Deposits increased to ₹3,76,407 crore from ₹3,09,791 crore, while net advances rose to ₹3,25,641 crore from ₹2,50,188 crore. Reserves and surplus increased to ₹29,712 crore from ₹23,915 crore.
The bank’s domestic credit-deposit ratio stood at 82.85%.
With strong growth in advances, rising profitability and lower non-performing asset ratios, Bank of Maharashtra has maintained its growth momentum in the first half of FY27.
