Bank of Maharashtra reports 41% jump in Q2FY27 net profit at ₹2,310 crore

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The Pune-headquartered public sector bank, which reported a net profit of ₹1,633 crore in the year ago quarter, logged a robust growth in advances amid improvement in asset quality

By BL Mumbai Bureau

Updated - October 26, 2026 at 09:12 PM.

Bank of Maharashtra (BoM) reported a 41 per cent year-on-year (yoy) jump in second quarter net profit at ₹2,310 crore, its highest in eight quarters, on the back of robust growth in net interest income and other income.

The Pune-headquartered public sector bank, which reported a net profit of ₹1,633 crore in the year ago quarter, logged a robust growth in advances amid improvement in asset quality.

Net interest income (interest income less interest expended) was up 22 per cent yoy to ₹3,954 crore (₹3,248 crore in Q2FY26).

Other income, comprising commission income from non-fund based banking activities, fees, earnings from forex and derivative transactions, profit and loss (including revaluation) from investments, and recoveries from accounts previously written off, rose 34 per cent yoy to ₹1,129 crore (₹845 crore).

Net interest margin (NIM) improved to 3.97 per cent in the reporting quarter (3.85 per cent)

Provisions declined 12.5 per cent yoy to ₹1,059 crore (₹941 crore). However, provision for standard/restructured assets increased to ₹603 crore (₹158 crore).

Nidhu Saxena, MD & CEO , BoM, attributed the substantial increase in provision for standard/restructured assets to the ₹500 crore additional provisioning made for complying with the Expected Credit Loss norms.

Gross non-performing assets (NPAs) position improved to 1.25 per cent of gross advances as at September-end 2026 against 1.72 per cent as at September-end 2025. Net NPAs position too improved to 0.12 per cent of net advances against 0.18 per cent.

Total deposits grew 21.5 per cent yoy to stand at ₹3,76,407 crore as at September-end 2026. Low-cost current account, savings account (CASA) deposits declined to 46.47 per cent of domestic deposits as of September 30, 2026 from 50.35 per cent as of September 30, 2025.

Advances rose by a healthy 30 per cent yoy to stand at ₹3,29,359 crore as at September-end 2026. Saxena said the Bank has not seen any stress in its loan book so far due to the rain shortfall caused by the El Nino phenomenon. However, it remains watchful.

Published on October 26, 2026

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