Bank of Maharashtra reports robust Q2, H1 FY2026 growth

Bank of Maharashtra reported a 14% growth in total business to ₹5.63 lakh crore for Q2 and H1 FY2026. Deposits increased by 12.13% and advances by almost 17%, leading to an improved credit deposit ratio of 82%. The bank’s asset quality also strengthened, with gross non-performing assets declining to 1.72% and net non-performing assets to 0.18%, supported by a provision coverage ratio of 98.34%.

The bank’s net profit rose by 23% to ₹1,633 crore, and operating profit grew by 17% to ₹2,500 crore. Net interest income saw an almost 16% increase, with a healthy net interest margin of 3.85%. Cost to income improved to 37.1%, and return on assets reached 1.82%. Capital adequacy improved to 18.13%, with Tier-1 standing at 14.96%. S&P Global assigned a BBB- rating, a three-notch improvement, and FII holding increased from 0.39% in 2023 to 2.58% in September 2025.

Bank of Maharashtra launched its GIFT IBU, achieving ₹100 million in business during the half year. The bank is also expanding its presence with a five-year plan to open 1,000 branches, including 321 branches in the next 18 months, primarily outside Maharashtra, to sustain its growth trajectory.