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Kotak Mahindra Bank Shareholders Approve Ramesh G. Iyer as Independent Director with 99.73% Votes
Kotak Mahindra Bank shareholders have overwhelmingly approved the appointment of Mr. Ramesh G. Iyer as an Independent Director through a special resolution. The postal ballot results showed that 99.73% of the valid votes cast were in favor of the appointment, reflecting strong shareholder confidence. A total of 841.49 crore votes supported the resolution, while only 2.26 crore votes (0.27%) were against it. The appointment is effective from April 24, 2026, following the conclusion of the remote e-voting process.
Key Highlights
Special resolution for the appointment of Mr. Ramesh G. Iyer as an Independent Director passed with 99.73% majority.
A total of 841,48,92,966 votes were cast in favor of the resolution by 3,904 members.
Only 0.27% of votes (2,26,46,419) were cast against the proposal by 166 members.
The resolution is deemed to have been passed on April 24, 2026, the final day of the voting period.
💼 Action for Investors
Investors should view this high approval rate as a positive sign of corporate governance and shareholder alignment. No immediate portfolio action is required as this is a standard board strengthening measure.
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Kotak Mahindra Bank Clarifies on Alleged Rs 160-Crore FD Fraud Report
Kotak Mahindra Bank has issued a clarification regarding news reports of an alleged Rs 160-crore fixed deposit fraud involving the Panchkula Municipal Corporation. The bank stated that the incident does not pose a material impact on its operations or financials under SEBI disclosure regulations. Currently, the bank is examining the matter and is fully cooperating with law enforcement and government authorities. While the amount is small relative to the bank's balance sheet, investors should monitor for any potential lapses in internal controls.
Key Highlights
Clarification issued regarding an alleged Rs 160-crore FD fraud linked to Panchkula Municipal Corp
Bank confirms no material impact as per Regulation 30(4) of SEBI LODR
Internal examination of the matter is underway following instructions from the Municipal Corporation
Bank is cooperating with law enforcement agencies and government authorities for the investigation
💼 Action for Investors
Investors should treat this as a watch item for operational risk; while the financial impact is negligible, any systemic internal control failure could attract regulatory scrutiny.
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Kotak Mahindra Bank Clarifies on Alleged Rs 160-Crore FD Fraud Rumours
Kotak Mahindra Bank has issued a clarification regarding media reports of an alleged Rs 160-crore Fixed Deposit (FD) fraud involving the Panchkula Municipal Corporation. The bank has stated that there is no material impact on its operations or financials under SEBI Regulation 30(4). The bank is currently examining the matter and is cooperating fully with government authorities and law enforcement agencies. While the amount is not financially material for a bank of this size, the incident highlights potential operational risks.
Key Highlights
Clarification issued regarding news reports of an alleged Rs 160-crore FD fraud linked to Panchkula Municipal Corp
Bank confirms no material impact on financial or operational performance per SEBI Regulation 30(4)
Internal examination of the matter is underway following instructions from the Municipal Corporation
Full cooperation is being extended to government authorities and law enforcement agencies for the investigation
💼 Action for Investors
Investors should monitor the outcome of the investigation to ensure there are no broader internal control failures. The immediate financial impact is negligible, but reputational risks and regulatory scrutiny should be watched.
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Kotak Mahindra Bank to Integrate KMIL Business Departmentally from April 1, 2026
Kotak Mahindra Bank has announced that the business activities of its wholly-owned subsidiary, Kotak Mahindra Investments Limited (KMIL), will be integrated departmentally within the bank starting April 1, 2026. This move is in compliance with RBI's 2025 directions regarding group simplification and operational synergies. KMIL will cease sanctioning new loans from the effective date but will continue to service its existing portfolio. The financial impact is expected to be immaterial as KMIL contributes only about 2.3% to the bank's consolidated profit after tax.
Key Highlights
KMIL to stop sanctioning new loans effective April 1, 2026, moving operations to the parent bank.
KMIL's FY 2024-25 PAT stood at Rs. 501 crore, representing approximately 2.3% of the bank's consolidated profit.
KMIL's net worth as of March 31, 2025, was Rs. 3,842 crore, or 2.4% of the consolidated net worth.
Restructuring is driven by RBI Directions 2025 to streamline financial services within bank groups.
KMIL will continue to honor and service all existing facility agreements executed on or prior to March 31, 2026.
💼 Action for Investors
Investors should view this as a positive step toward regulatory compliance and operational efficiency. No immediate portfolio action is required as the consolidated financial impact is not material.
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Kotak Mahindra Bank to Divest 30.99% Stake in Infina Finance for Rs 1,294 Crore
Kotak Mahindra Capital Company (KMCC), a wholly-owned subsidiary of Kotak Mahindra Bank, has entered into definitive agreements to sell a 30.99% stake in its associate company, Infina Finance Private Limited. The total consideration for the transaction is approximately Rs 1,293.91 crore. Buyers include the Estate of Rakesh Jhunjhunwala, Bright Star Investments, and KF Trust (a promoter group entity). Following the sale, Infina will cease to be an associate company of the bank as KMCC's stake will reduce to 19%.
Key Highlights
Total divestment of 30.99% stake for an aggregate consideration of Rs 1,293.91 crore
Major buyers include the Estate of Rakesh Jhunjhunwala (12.10%) and Bright Star Investments (9.90%)
Infina Finance contributed 0.50% to the Bank's consolidated total income in FY25
KMCC will retain a 19.00% stake in Infina, which will no longer be classified as an associate company
The transaction is expected to be completed on or prior to March 31, 2026
💼 Action for Investors
Investors should view this as a positive value-unlocking move that provides significant cash inflow from a non-core associate. The participation of high-profile investors like the Jhunjhunwala estate validates the valuation of the subsidiary.
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Kotak Mahindra Bank Appoints Ramesh Ganesh Iyer as Independent Director; Ashok Gulati to Retire
Kotak Mahindra Bank has appointed Mr. Ramesh Ganesh Iyer as an Additional and Independent Director for a four-year term effective February 17, 2026. This appointment coincides with the upcoming retirement of Dr. Ashok Gulati, whose term as Independent Director ends on March 5, 2026. Mr. Iyer brings over 40 years of experience from the Mahindra Group, where he previously served as Vice Chairman and MD of Mahindra & Mahindra Financial Services. The transition ensures board continuity and adds significant expertise in rural and inclusive finance to the bank's leadership.
Key Highlights
Mr. Ramesh Ganesh Iyer appointed as Independent Director for a 4-year term starting Feb 17, 2026.
Dr. Ashok Gulati to retire from the board effective March 6, 2026, upon completion of his term.
Mr. Iyer previously led MMFSL as CEO since 1999, scaling it into a leading rural finance institution.
The appointment is subject to the approval of the bank's members.
The Board meeting for these approvals was held on February 17, 2026, between 6:30 p.m. and 6:50 p.m.
💼 Action for Investors
Investors should view this as a routine and well-planned board succession. The addition of a veteran with deep rural finance expertise like Mr. Iyer is a qualitative positive for the bank's long-term governance.
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Kotak Mahindra Bank Appoints Ramesh Iyer as Independent Director for 4-Year Term
Kotak Mahindra Bank has appointed Mr. Ramesh Ganesh Iyer as an Independent Director for a four-year term effective February 17, 2026. Mr. Iyer is a financial services veteran with over 40 years of experience at the Mahindra Group, where he previously served as the Vice Chairman and MD of Mahindra & Mahindra Financial Services. This appointment coincides with the retirement of Dr. Ashok Gulati, whose term as an Independent Director ends on March 5, 2026. The addition of Mr. Iyer brings deep expertise in rural finance and inclusive banking to the board.
Key Highlights
Mr. Ramesh Ganesh Iyer appointed as Independent Director for a 4-year term starting Feb 17, 2026
Dr. Ashok Gulati to retire from the board on March 5, 2026, upon completion of his tenure
Mr. Iyer previously led Mahindra & Mahindra Financial Services as MD and Vice Chairman for over 20 years
The appointment is subject to the approval of the bank's shareholders
💼 Action for Investors
Investors should view this as a positive governance move that strengthens the board with seasoned financial leadership. No immediate portfolio action is required based on this routine board transition.
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Kotak Mahindra Bank Appoints Nilesh Chaudhari as CTO and Vijay Narayanan as Head of Innovation & AI
Kotak Mahindra Bank has announced a leadership transition in its technology vertical following the resignation of CTO Bhavnish Lathia on February 9, 2026. To fill the gap, the bank has appointed Nilesh Chaudhari, a veteran with 29 years of experience at institutions like JPMorgan and Barclays, as the new CTO. Additionally, Aravamudham (Vijay) Narayanan, with 24 years of experience at Amazon and Goldman Sachs, has been appointed as Head of Innovation and AI. These appointments are strategic moves to bolster the bank's digital infrastructure and AI capabilities.
Key Highlights
Mr. Bhavnish Lathia resigned as Chief Technology Officer effective February 9, 2026, citing personal reasons.
New CTO Nilesh Chaudhari brings 29 years of experience, having previously served as CIO of Global Payments at Barclays.
Mr. Aravamudham (Vijay) Narayanan appointed as Head – Innovation and AI with 24 years of experience at Amazon and Goldman Sachs.
The new leadership will oversee technology transformation across Wholesale, Commercial, and Treasury functions.
The appointments are effective from February 10, 2026, ensuring a swift transition in a critical operational area.
💼 Action for Investors
Investors should view these high-profile hires as a positive step toward strengthening the bank's technology backbone, though they should monitor for any execution delays during the leadership transition.
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Kotak Mahindra Bank Appoints Nilesh Chaudhari as CTO and Vijay Narayanan as Head of Innovation & AI
Kotak Mahindra Bank has announced a leadership transition in its technology division following the resignation of Chief Technology Officer Bhavnish Lathia on February 9, 2026. To fill the gap, the bank has appointed Nilesh Chaudhari, a veteran with 29 years of experience at JPMorgan and Barclays, as the new CTO. Furthermore, the bank has created a senior role for Innovation and AI, appointing Vijay Narayanan, who brings 24 years of experience from Amazon and Goldman Sachs. These appointments reflect the bank's commitment to strengthening its digital infrastructure and AI capabilities.
Key Highlights
Bhavnish Lathia resigned as Chief Technology Officer effective February 9, 2026, due to personal reasons.
Nilesh Chaudhari appointed as the new CTO with 29 years of experience across global firms like Citigroup and Barclays.
Vijay Narayanan appointed as Head of Innovation and AI, bringing 24 years of experience from Amazon and Goldman Sachs.
The appointments are effective from February 10, 2026, ensuring a swift transition in the technology leadership team.
💼 Action for Investors
Investors should view this as a routine but important leadership transition; the high caliber of the new appointees should mitigate concerns regarding the outgoing CTO's departure. Monitor the bank's progress in digital transformation and AI integration under the new leadership.
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Kotak Mahindra Bank Denies Submitting Financial Bid for IDBI Bank Stake
Kotak Mahindra Bank has officially clarified that it has not submitted a financial bid for the disinvestment of IDBI Bank Limited, contrary to media reports. The clarification follows a news article published on February 6, 2026, which suggested the bank was a frontrunner in the bidding process. The bank noted material price movement in its scrip and issued this statement under SEBI Regulation 30(11) to address market speculation. This denial effectively puts to rest immediate rumors regarding a large-scale acquisition of IDBI Bank.
Key Highlights
Bank clarifies it has not submitted a financial bid for IDBI Bank disinvestment as of February 7, 2026.
Response issued following an Economic Times report titled 'IDBI stake sale: Kotak Mahindra, Fairfax to submit financial bids'.
Disclosure triggered by material price movement observed in the bank's shares on February 6, 2026.
Compliance maintained under Regulation 30(11) of SEBI Listing Regulations regarding rumour verification.
💼 Action for Investors
Investors should disregard the speculative reports regarding the IDBI Bank acquisition and focus on Kotak's organic performance. Any price volatility driven by these rumors may stabilize following this official denial.
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Kotak Mahindra Bank Proposes WTD Appointment and FY27 Debt Fundraising via Postal Ballot
Kotak Mahindra Bank is seeking shareholder approval for the appointment of Mr. Anup Kumar Saha as a Whole-Time Director for a three-year term. The proposed compensation package includes a basic salary of up to ₹35 lakh per month and a housing allowance of ₹17.5 lakh per month. Additionally, the bank is requesting authorization to issue unsecured, redeemable, non-convertible debentures or bonds on a private placement basis during FY 2026-27. The e-voting period for these resolutions runs from February 3 to March 4, 2026.
Key Highlights
Appointment of Mr. Anup Kumar Saha as Whole-Time Director (Executive Director) for a 3-year tenure.
Proposed remuneration includes basic salary up to ₹35 lakh per month and allowances up to ₹80 lakh per annum.
Variable pay for the new director is capped at 300% of fixed pay, adhering to RBI guidelines.
Seeking special resolution for private placement of NCDs and debt securities for the FY 2026-27 period.
E-voting results to be declared by March 6, 2026, based on a cut-off date of January 30, 2026.
💼 Action for Investors
Investors should view these as routine enabling resolutions for leadership and capital management; no immediate action is required. Monitor the finalization of the debt issuance limits once the full FY27 capital plan is disclosed.
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Kotak Mahindra Bank Board Approves Raising Up to Rs 15,000 Crore via NCDs for FY 2026-27
The Board of Directors of Kotak Mahindra Bank has approved a proposal to raise capital up to Rs 15,000 crore. This fundraise is planned for the financial year 2026-27 through the issuance of Unsecured, Redeemable, Non-Convertible Debentures (NCDs). The issuance will be conducted on a private placement basis in one or more tranches. This move is subject to shareholder approval and is aimed at strengthening the bank's capital base for future growth requirements.
Key Highlights
Board approval for raising up to Rs 15,000 crore via NCDs
Fundraising scheduled for the financial year 2026-27 in multiple tranches
Instruments to be Unsecured, Redeemable, Non-Convertible Debentures on private placement basis
Proposal is subject to necessary approvals from bank members and regulatory authorities
💼 Action for Investors
Investors should view this as a positive step towards long-term capital planning and growth readiness. Monitor for shareholder approval and the eventual pricing of these debentures to assess the cost of capital.
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Kotak Mahindra Bank Board Approves Raising Up to ₹15,000 Crore via NCDs in FY 2026-27
The Board of Kotak Mahindra Bank has approved a proposal to raise capital up to ₹15,000 crore during the financial year 2026-27. This fundraise will be executed through the issuance of Unsecured, Redeemable, Non-Convertible Debentures (NCDs) on a private placement basis. The plan is subject to approval from the bank's shareholders and other regulatory bodies. This proactive capital planning suggests the bank is preparing for future credit growth and maintaining a strong capital adequacy ratio.
Key Highlights
Board approved raising up to ₹15,000 crore via NCDs
Issuance planned for the financial year 2026-27 in one or more tranches
Instruments will be Unsecured, Redeemable, Non-Convertible Debentures on a private placement basis
Proposal is subject to shareholder and necessary regulatory approvals
💼 Action for Investors
Investors should view this as a standard enabling resolution to support long-term growth and liquidity. Monitor the bank's credit growth trends to see how this capital will be deployed.
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Kotak Mahindra Bank Q3FY26 Consolidated PAT Rises 5% YoY to ₹4,924 Cr; Asset Quality Improves
Kotak Mahindra Bank reported a steady Q3FY26 with consolidated PAT growing 5% YoY to ₹4,924 crore and 10% sequentially. Standalone advances grew 16% YoY to ₹480,673 crore, while deposits increased 15% YoY, maintaining a healthy credit-to-deposit ratio of 88.6%. Although Net Interest Margins (NIM) compressed to 4.54% from 4.93% YoY, they remained stable on a QoQ basis. Asset quality continues to be a strong point, with GNPA improving to 1.30% and NNPA at a very low 0.31%.
Key Highlights
Consolidated PAT stood at ₹4,924 crore, up 5% YoY and 10% QoQ, despite a ₹98 crore impact from the new Labour Code.
Standalone Net Advances grew 16% YoY to ₹480,673 crore, while Total Deposits rose 15% YoY to ₹542,638 crore.
Asset quality improved with GNPA at 1.30% and NNPA at 0.31%, compared to 1.50% and 0.41% respectively in the previous year.
Net Interest Income (NII) grew 5% YoY to ₹7,565 crore, while NIM stabilized at 4.54% sequentially.
Capital adequacy remains robust with a Standalone CAR of 22.6% and a CET1 ratio of 21.5%.
💼 Action for Investors
Investors should take confidence in the bank's industry-leading asset quality and strong capital buffers. While YoY profit growth is modest, the sequential improvement in PAT and stable NIMs suggest the bank is navigating the high-interest-rate environment effectively.
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Kotak Mahindra Bank Q3 FY26 Consolidated Interest Earned Up 5.2% YoY to ₹17,506 Cr
Kotak Mahindra Bank reported a steady performance for Q3 FY26, with consolidated interest earned rising to ₹17,506.80 crore compared to ₹16,633.14 crore in the previous year's corresponding quarter. The bank's nine-month interest income reached ₹51,953.80 crore, reflecting consistent growth in its core lending business. A significant corporate development was the effective merger of Sonata Finance with BSS Microfinance during the quarter. Subsidiary performance remained robust, with major units contributing over ₹1,180 crore in combined quarterly net profit.
Key Highlights
Consolidated Interest Earned for Q3 FY26 stood at ₹17,506.80 crore, up from ₹16,633.14 crore YoY.
Nine-month consolidated interest earned reached ₹51,953.80 crore for the period ending December 31, 2025.
Two major subsidiaries reported combined quarterly revenue of ₹8,630.99 crore and net profit of ₹593.58 crore.
Sonata Finance Private Limited merger with BSS Microfinance became effective on October 11, 2025.
Three other subsidiaries contributed a net profit of ₹594.94 crore for the quarter ended December 2025.
💼 Action for Investors
Investors should maintain a positive outlook given the steady growth in interest income and successful integration of microfinance entities. Monitor the upcoming full financial disclosures for specific details on Net Interest Margins and asset quality.
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Kotak Mahindra Bank Q3 FY26 Consolidated Interest Earned Rises to ₹17,506.80 Crore
Kotak Mahindra Bank reported a consolidated interest income of ₹17,506.80 crore for the quarter ended December 31, 2025, up from ₹16,633.14 crore in the corresponding quarter of the previous year. The bank's diverse subsidiary portfolio, including life insurance and asset management, continues to contribute significantly to the group's bottom line. A key operational milestone was the completion of the merger between Sonata Finance and BSS Microfinance during the quarter. Overall, the results reflect steady growth in the bank's core lending operations and stable performance across its financial services ecosystem.
Key Highlights
Consolidated interest earned grew 5.25% year-on-year to ₹17,506.80 crore in Q3 FY26.
Nine-month consolidated interest income reached ₹51,953.8 crore as of December 31, 2025.
Two major subsidiaries reported a combined revenue of ₹8,630.99 crore and PAT of ₹593.58 crore for the quarter.
The merger of Sonata Finance Private Limited with BSS Microfinance Limited became effective on October 11, 2025.
Consolidated interest income showed sequential growth from ₹17,198.74 crore in Q2 FY26.
💼 Action for Investors
Investors should maintain a positive outlook given the steady growth in interest income and successful subsidiary integration. Monitor the detailed asset quality and NIM compression trends in the full investor presentation for long-term positioning.
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Kotak Mahindra Bank Completes 1:5 Stock Split; Shares Credited to Demat Accounts
Kotak Mahindra Bank has finalized its 1:5 stock split, reducing the face value of equity shares from Rs. 5 to Re. 1. Shareholders on record as of January 14, 2026, received five shares for every one share held, with credits completed by January 15, 2026. While the total paid-up capital remains unchanged at approximately Rs. 9,945.49 million, the total number of shares has increased to 9,945,492,975. The new shares are now trading under the new ISIN INE237A01036.
Key Highlights
Sub-division of 1 equity share of Rs. 5 into 5 equity shares of Re. 1 each.
Total number of equity shares increased from 1,989,098,595 to 9,945,492,975.
Record date for the split was January 14, 2026, with credit on January 15, 2026.
Paid-up share capital remains constant at Rs. 9,945,492,975.
New ISIN INE237A01036 is now active for trading on BSE and NSE.
💼 Action for Investors
Shareholders should verify their demat accounts to ensure their holding has increased fivefold. This is a liquidity-enhancing corporate action and does not impact the bank's fundamental valuation.
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Kotak Mahindra Bank Appoints Former Bajaj Finance MD Anup Kumar Saha as Whole-time Director
Kotak Mahindra Bank has appointed Anup Kumar Saha as a Whole-time Director to lead its Consumer Banking, Marketing, and Data Analytics divisions. Saha brings a strong track record from Bajaj Finance, where he served as Managing Director and helped scale the customer base to 100 million. He also has 14 years of experience at ICICI Bank in retail banking and digital transformation. This strategic appointment is aimed at accelerating Kotak's digital innovation and customer-centric growth strategies.
Key Highlights
Anup Kumar Saha appointed as Whole-time Director (Designate) effective January 12, 2026.
Saha previously spent 8 years at Bajaj Finance, helping transform it into a leading NBFC with 100 million customers.
He will oversee Consumer Banking, Marketing, and Data Analytics functions at Kotak Mahindra Bank.
The appointment is subject to necessary regulatory approvals.
Kotak Mahindra Group reported a consolidated balance sheet size of ₹9.1 trillion as of September 30, 2025.
💼 Action for Investors
Investors should view this as a positive leadership reinforcement, bringing in proven expertise from a high-growth competitor. Monitor the bank's retail credit growth and digital adoption rates over the next few quarters to gauge the impact of this leadership change.
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Kotak Mahindra Bank Appoints Former Bajaj Finance CEO Anup Kumar Saha as Executive Director
Kotak Mahindra Bank has appointed Mr. Anup Kumar Saha as a Whole-time Director (Executive Director) for a three-year term, subject to RBI approval. Mr. Saha brings over 32 years of professional experience, most recently serving as the Managing Director & CEO of Bajaj Finance Limited. His extensive background includes 14 years at ICICI Bank leading retail assets and credit cards, as well as roles at GE Capital. This strategic appointment is expected to significantly bolster Kotak's retail banking and consumer finance leadership.
Key Highlights
Appointment of Mr. Anup Kumar Saha as Whole-time Director for a 3-year term starting January 12, 2026.
Mr. Saha previously held the position of MD & CEO at Bajaj Finance Limited until July 2025.
He brings 32+ years of professional experience, including 25 years in financial services across banking and NBFCs.
Educational background includes a B. Tech from IIT Kharagpur and an MBA from IIM Lucknow.
💼 Action for Investors
The induction of a high-profile leader from a major competitor like Bajaj Finance is a positive signal for Kotak's retail growth strategy. Investors should view this as a strengthening of the bank's core leadership team.
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Kotak Mahindra Bank Q3 FY26: Net Advances Grow 16% YoY to ₹4.80 Lakh Crore
Kotak Mahindra Bank reported a 16% YoY growth in Net Advances, reaching ₹4,80,229 crore for the quarter ended December 31, 2025. Total deposits saw a 14.6% YoY increase to ₹5,42,638 crore, indicating robust balance sheet expansion. While average CASA grew by 4.9% QoQ, the end-of-period CASA remained stagnant with only 0.2% growth. These provisional figures reflect steady credit demand and a stable deposit base ahead of the full quarterly results.
Key Highlights
Net Advances (EOP) increased 16.0% YoY to ₹4,80,229 crore.
Total Deposits (EOP) rose 14.6% YoY to ₹5,42,638 crore.
Average CASA showed a healthy 4.9% QoQ growth reaching ₹2,07,955 crore.
End-of-period CASA growth was marginal at 0.2% QoQ reaching ₹2,24,199 crore.
💼 Action for Investors
The steady credit growth is a positive sign for the bank's market share, but investors should watch for potential pressure on margins due to the stagnant end-of-period CASA. Maintain a positive outlook while awaiting the full earnings release for details on asset quality and NIMs.