Bank of Maharashtra Q2 results landed on Monday, October 26, 2026 and the Pune-headquartered public sector lender has posted another quarter of strong growth. Net profit for the July-September quarter rose 41.42% year on year to ₹2,310 crore, from ₹1,633 crore, according to the bank’s press release filed with the exchanges. Sequentially, profit was up 14.33% from ₹2,020 crore in the June quarter.
In this article
Bank of Maharashtra Q2 results: the headline numbers
- Net interest income: ₹3,954 crore, up 21.76% from ₹3,248 crore a year ago and 4.89% higher than Q1.
- Operating profit: ₹3,369 crore, up 30.86% from ₹2,574 crore, and 8.07% higher quarter on quarter.
- Net interest margin: 3.97% on domestic operations and 3.86% globally.
- Cost-to-income ratio: 33.73%, down from 37.10% a year ago and 35.04% in the June quarter.
- Return on assets: 2.02% for the quarter, against 1.82% in Q2 FY26. Return on equity was 26.98%.
CNBC-TV18’s results coverage carries the same picture, with net profit at ₹2,309.6 crore and NII at ₹3,954.4 crore before rounding.
Asset quality is now close to spotless
Gross NPA fell to 1.25% of advances at the end of September, from 1.72% a year earlier and 1.45% in June. Net NPA was just 0.12%, against 0.18% a year ago. The provision coverage ratio improved to 98.53% from 98.34% a year earlier.
Provisions and contingencies came in at ₹1,059 crore, up 12.5% on the year but about 3.5% lower than the ₹1,097 crore set aside in Q1. Take that ₹1,059 crore away from operating profit and you land on the ₹2,310 crore bottom line. So the profit jump is coming from the core business, not from a sudden drop in provisioning.
Loans are running well ahead of deposits
This is the part we would watch most closely. Gross advances grew 29.61% to ₹3,29,359 crore, while total deposits grew 21.50% to ₹3,76,407 crore. The domestic credit-deposit ratio stood at 82.85%.
The gap is being filled partly by borrowings, which climbed to ₹47,890 crore from ₹24,924 crore a year ago, an increase of roughly 92% on the balance sheet. Current and savings account (CASA) deposits grew 11.92% to ₹1,74,576 crore, much slower than the overall book, so their share of domestic deposits slipped to 46.47% from 50.35%. Borrowings and term deposits generally cost a bank more than CASA money, so the domestic NIM of 3.97% is the number to track over the next two quarters.
On the lending side, retail advances rose 20.91% to ₹94,582 crore and MSME advances rose 24.69% to ₹58,049 crore.
Capital and the half-year picture
The capital adequacy ratio stood at 18.51%, with common equity tier 1 at 15.61%. For the first half of FY27, net profit rose 34.22% to ₹4,330 crore and NII grew 18.12% to ₹7,724 crore. Fee-based income was the soft spot, up just 3.54% to ₹866 crore for the half year.
What it means for investors
Bank of Maharashtra keeps delivering high returns on assets with very little credit stress, and this quarter does nothing to change that story. The open question is funding. A loan book growing almost 30% a year with deposits growing about 21% and CASA growing about 12% has to be funded somewhere, and a costlier funding mix can pressure margins over time. Compare it with other PSU bank results such as Bank of India’s, see the rest of the Q2 results lined up this week, and if you want a framework for reading these numbers yourself, our guide on how to analyse quarterly results walks through it.
Disclaimer: This article is for information and education only and is not investment advice. Please do your own research or consult a SEBI-registered adviser before making investment decisions.
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