Bank of Maharashtra Q4 Net profit jumps 34% YoY; NII up 20%

 In the fourth quarter of FY26, public sector lender Bank of Maharashtra reported a net profit of Rs 2,014 crore on Monday, up 35% from Rs 1,493 crore in the same quarter of the previous fiscal year.

In addition to showing an 8.19% sequential increase, net interest income (NII) increased 18.81% year over year (YoY) to Rs 3,702 crore in Q4FY26 from Rs 3,116 crore in Q4FY25.

Operating profit increased 7.69% quarter-over-quarter (QoQ) and 16.92% YoY to Rs 2,946 crore in Q4FY26 from Rs 2,520 crore in the same period last year.

Net revenues, which include net interest income and other income, rose 13.26% year over year from Rs 4,097 crore in Q4FY25 to Rs 4,640 crore in Q4FY26. Revenues increased by 6.55% sequentially.

Gross non-performing assets (NPA) decreased to 1.45% as of March 31, 2026, from 1.74% a year earlier and 1.60% in the preceding quarter, indicating an improvement in asset quality during the quarter. Additionally, net non-performing assets (NPA) decreased to 0.13% from 0.15% in the previous quarter and 0.18% in the same period last year.

The provision coverage ratio stood at 98.59% as of March 31, 2026, improving from 98.26% a year earlier and 98.41% as of December 31, 2025.

As of March 31, 2026, total business grew 17.47% YoY to Rs 6.43 lakh crore. Total deposits rose 14.14% to Rs 3.50 lakh crore, while gross advances increased 21.74% to Rs 2.91 lakh crore. Net advances also rose 22.03% to Rs 2.88 lakh crore.

The RAM segment, comprising retail, agriculture, and MSME, expanded 20.74% YoY. Within this, retail advances surged 32.39% to Rs 85,857 crore, while MSME advances grew 10.71% to Rs 53,547 crore.

For FY26, net profit rose 27.17% to Rs 7,019 crore, while net interest income increased 17.13% to Rs 13,664 crore. The domestic net interest margin stood at 3.91%.

The bank has proposed a final dividend of 12%, or Rs 1.20 per equity share, for FY26. This is in addition to the interim dividend of 10%, or Rs 1.00 per share, already declared and paid.

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Armed Robbers Loot Nationalized Bank In MP City, Decamp With Gold, Silver, Cash

In Singrauli, Madhya Pradesh, there has been a report of a daylight bank heist. Lacs of rupees' worth of cash have been stolen from the bank. 

On Friday afternoon, five armed thieves broke into the Bank of Maharashtra branch in Baidhan and took silver, gold, and cash. The thieves took off with about 9–10 kilogram of gold and Rs 20 lakh in cash. The estimated value of the gold is approximately Rs 15 crore. The incident happened on Friday afternoon at around 1:00 PM. 

They swiftly kidnapped employees. The thieves stole money while brandishing firearms at patrons and staff. Superintendent of Police Manish Khatri claims that the criminals requested the cash details and the bank manager's keys.

When the manager refused, they assaulted him. They hit him on the head with the butt of a gun, created a ruckus inside the bank for about 20 minutes, and finally escaped with a box full of cash.

Manish Khatri, the Singrauli Superintendent of Police (SP), personally came at the location with his squad after learning of the occurrence. Every way out of the city has been blocked off. To identify the criminals' escape path, CCTV video from the bank and nearby roadways is being analyzed.

The Superintendent of Police claims that no guard was there when the incident occurred. Additionally, the attackers fired a shot.

Three suspects are seen exiting the bank in CCTV footage from a store across from it. One robber can be seen waiting on a parked bike outside the bank when they first appear in the video.

Then two men with a bag come out from within. The three suspects rode off in the direction of Baidhan town on the same bike.

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Business Today’s 30th edition of Best Banks awards- ICICI Bank is a best bank, BoM is Best Mid Sized Banks and BOI MD & CEO is honoured as Business Transformation Leader (PSB)- Check Other Awards here

The 30th edition of Business Today’s Best Banks event concluded today at Mumbai with Union Minister Nitin Gadkari presenting awards to top-performing institutions across India’s financial sector, marking three decades of the flagship platform.

In a conversation with Group Editor Siddharth Zarabi, Gadkari said India has moved from fourth to third place, surpassing Japan to become the world’s third-largest economy, adding during conversation that rapid technological upgradation is underway across areas.

ICICI Bank was named "Bank of the Year" and Best Large Bank at the 2026 Business Today-KPMG Best Banks survey. Other key winners include Bank of Maharashtra (Mid-Sized), Karur Vysya Bank (Small), HSBC India (Foreign), and Jana Small Finance Bank. 

Read More -Ranking of All Banks in Business Today Banking & Economy Summit 2026

Business Today Best Banks Awards (2026 - 30th Edition) 

Bank of the Year & Best Large Bank: ICICI Bank

Best Mid-Sized Bank: Bank of Maharashtra

Best Small Bank: Karur Vysya Bank

Best Foreign Bank: HSBC India

Best Small Finance Bank: Jana Small Finance Bank

Best Large NBFC: Bajaj Finance

Best Housing Finance Company: Bajaj Housing Finance

Best Social Impact Bank: Indian Bank

Business Transformation Leader (PSB): Rajneesh Karnatak (MD & CEO, Bank of India)

Business Transformation Leader (Private/SFB): Sanjay Agarwal (MD & CEO, AU Small Finance Bank)

Innovation and Human Capital Excellence(NBFC): L&T Finance

Human Capital Excellence in Bank : HDFC Bank

Emerging Technology and AI: DBS Bank

Best Value-Added Services (Fintech): Perfios 

Lifetime Achievement Award: Shaktikanta Das, former Governor of the Reserve Bank of India

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Decline of CASA due to structural shift in banking: BOI MD & CEO

According to Rajneesh Karnatak, MD & CEO, Bank of India, the decrease in CASA for all scheduled commercial banks is a structural change that is occurring in terms of deposits as the demand for mobilizing deposits increases. As you can see from the data, the CASA percentage has decreased in recent years. There is a significant increase in financial literacy as the economy grows. Consumers increasingly invest in gold, mutual funds, pension funds, and equities markets; this is undoubtedly a change.As we develop further, this percentage will come down further,” Karnatak said at the panel discussion ‘Banking’s Next Evolution’ on the sidelines of Business Today Banking & Economy Summit.

Banks will need to determine how to finance the expansion of credit. Retail term deposits and CASA will not be around for very long. Bonds will need to be raised by banks. In order to raise money, corporations will also need to turn to the bond market, Karnatak stated. Because to CASA, private banks have been aggressively opening branches in rural and semi-urban areas where PSBs (public sector banks) used to have a monopoly, according to Nidhu Saxena, managing director and CEO of Bank of Maharashtra. According to Saxena, digitization won't prevent the bank from expanding geographically. "I have a solid board-approved plan to open 1,000 branches in five years, and we are aggressively expanding into new geographies," he continued.

Agreed, Dinesh Khara, former chairman of State Bank of India (SBI). “Banking is all a function of trust. Earning that trust requires the presence of brick-and-mortar also,” Khara said. “Creating a distribution network today is a huge challenge. Public sector banks have that distribution network,” he added.

On potential uses of artificial intelligence (AI) in banking, Khara said the new era for banking is going to be focused in terms of customization, which means that the data which is already there, it has to be put to use beyond the transaction process. “We started doing it during the pandemic. We had come out with algorithms. Based on that we started reaching out to those who needed credit. Those were the early days. We tried it out and it became a great success. With the new models, public sector banks will be in a position to profile their customers and hyper-personalization can become a reality,” said Khara.

Khara, however, warned that the banking industry is facing a challenge in terms of cybersecurity. “Perhaps AI can be used for is cutting costs both in terms of fraudulent activities which become a drain on the bank’s profitability and the right kind of underwriting through better risk management.”

Recalling his tenure as the chairman of India’s biggest lender, SBI, Khara said there were learnings from 2008-2014 wherein there was a challenge in terms of underwriting, there was a challenge in terms of resolving the stressed assets. “But the ecosystem got evolved. The IBC, which was never heard of in the country, came into existence. It actually demonstrated its teeth. That is one of the reasons as to why there were more responsible borrowings as far as corporates are concerned,” he stated.

Zarin Daruwala, Group CEO, PL Capital, said AI can help manage some risks in the banking sector. “Annually, there are about 14 lakh cyberattacks that happen. A lot of it is financial sector. On fraud detection, it is a very big area where we see AI investments happening. Bank of America uses an AI bot which does one billion customer interactions. JP Morgan Chase uses AI for fraud detection, it does 12,000 contracts in seconds. HSBC uses AIML for transaction monitoring. I am sure, Indian banks will also step up on AI investments,” Daruwala said.

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Bank of Maharashtra Q3 Profit rises 27% YoY

Government-owned Bank of Maharashtra on Tuesday, January 13, reported a 26.50% year-on-year (YoY) rise in its consolidated profit to Rs.1,779.58 crore for the December quarter of the current financial year (Q3FY26). In the same quarter last year, the lender's profit was Rs.1,406.73 crore.

The bank's total income for the quarter rose 16.4% YoY to Rs.8,277.22 crore from Rs.7,112.66 crore in Q3FY25.Operating profit, or the profit before provisions and contingencies, rose nearly 19% YoY to Rs.2,735.90 crore from Rs.2,303.39 crore in Q3FY25.

Net profit margin improved to 21.68% from 19.83% YoY, while operating margin climbed to 33.21% from 32.43% YoY in Q3FY26.

The bank's net interest income (NII) grew by 16.27% YoY to Rs.3,422 crore during the December quarter against Rs.2,943 crore for the same quarter of the previous financial year. Net interest margin (NIM) slipped to 3.86% in Q3FY26 from 3.98% YoY.

Total deposits increased by 15.29% YoY to Rs.3,21,661 crore, while global gross advances increased by 19.62% YoY to Rs.2,73,502 crore, said the bank.The board of directors has approved an interim dividend of Rs.1 per equity share of face value of Rs.10 per share for FY26 (9 months), which is within the permissible limit of the RBI.

The bank said its gross NPA declined to 1.60% against 1.80% YoY, while net NPA declined to 0.15% against 0.20% YoY.The provision coverage ratio improved to 98.41% as of December 31, 2025, compared to 98.28% as of December 31, 2024, according to the bank.

The bank said it held a cumulative Covid-19 provision of Rs.1,200 crore as on December 31, 2025.

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Bank of Maharashtra Q2 profit rises 23%

 

In an exchange filing on October 13, the Bank of Maharashtra stated that its net profit for the September quarter increased by 23.09 percent year over year to Rs 1,633 crore, while its net interest income (NII) increased by 15.71 percent year over year to Rs 3,248 crore. 

 Following the release of the quarterly data, the lender's shares fell precipitously by more than 3%. In Q2FY26, operating profit increased 16.91% year over year to Rs 2,574 crore from Rs 2,202 crore in Q2FY25. 

 In Q2FY26, net revenue (or net interest income plus other income) increased 13.73 percent to Rs 4,093 crore. Compared to Q2FY25, when it was 38.81 percent, the Bank of Maharashtra's cost to income ratio improved to 37.10 percent in Q2FY26.

Compared to 1.74 percent for Q2FY24 and 1.80 percent for Q1FY25, the return on assets (RoA) increased to 1.82 percent for Q2FY26. In Q2FY26, the return on equity (RoE) was 22.58 percent, compared to 26.01 percent in Q2FY25. 

 The total business reached Rs 5,63,909 crore, an increase of 14.20 percent year over year. At Rs 3,09,791 crore, total deposits grew by 12.13 percent annually. Gross Advances reached Rs 2,54,118 crore, an increase of 16.83 percent year over year. 

 Retail advances have increased by 37.45 percent year over year, while RAM (Retail, Agri. & MSME) business rose by 16.94 percent. Compared to 1.84 percent on September 30, 2024, and 1.74 percent on June 30, 2025, gross non-performing assets (NPA) decreased to 1.72 percent on September 30, 2025.

Compared to 0.20 percent on September 30, 2024, and 0.18 percent on June 30, 2025, net non-performing assets (NPA) decreased to 0.18 percent on September 30, 2025. 

 As of September 30, 2025, the provision coverage ratio was 98.34 percent, compared to 98.36 percent on September 30, 2024, and 98.36 percent on June 30, 2025. With a Common Equity Tier 1 (CET1) ratio of 14.05 percent, the overall Basel III Capital Adequacy ratio increased to 18.13 percent.

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Bank of Maharashtra Q1 results, Net profit rises 23%

On Tuesday, July 15, the state-run Bank of Maharashtra Ltd. released its April–June quarter results. The lender's core income, or net interest income, climbed from ₹2,800 crore to ₹3,292 crore, an 18% year-over-year gain. 

 The period's net profit climbed from ₹1,293 crore to ₹1,593 crore, a 23% rise. Despite lower other income than in the same quarter previous year, net profit increased during the quarter. Sequentially, the period's asset quality stayed constant. Both net and gross non-performing assets (NPA) stayed at 0.18% and 1.74%, respectively, from the March quarter.

Compared to the previous quarter's ₹983.29 crore, the quarter's provisions were ₹867.41 crore. On a sequential basis, slippages over the period have increased. At the conclusion of the June quarter, total slippages were ₹727 crore, up from ₹660 crore during the March quarter. 

 While deposits increased by 14% from the same quarter last year to ₹3.05 lakh crore, Bank of Maharashtra reported business growth of 14% from the previous year to ₹5.46 lakh crore in its post-earnings statement. 

 Gross Advances were ₹2.41 lakh crore, increasing 15.34% from the previous year.Net Interest Margins during the June quarter stood at 3.95%, which is nearly the same as 3.97% it reported in the June quarter last year and 4.01% reported during the March quarter.

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RBI imposed Penalty on 4 Major Banks

 

Four major banks, Bank of Baroda, IDBI Bank, Bank of Maharashtra, and ICICI Bank, have recently been hit with financial fines by the Reserve Bank of India (RBI) for noncompliance with key regulatory requirements. Following RBI examinations of the banks' operational and financial operations for the fiscal years 2023 and 2024, these fines were imposed. These fines are intended to improve adherence to banking regulations and guarantee that banks conduct themselves in an open and accountable manner. The RBI underlined, however, that these measures are only connected to regulatory matters and have no bearing on the legality of agreements or transactions between banks and their clients.

Bank of Baroda(BoB)

For failing to observe RBI guidelines regarding customer service and deposit interest rates, Bank of Baroda was fined Rs.61.40 lakh. In violation of the regulations, the bank permitted an insurance company to provide non-cash incentives to its employees. Additionally, some frozen or dormant savings accounts did not get timely interest credits. 

IDBI Bank 

In 2023, these problems were discovered during an RBI examination. Following a personal hearing and an assessment of the bank's response, the RBI chose to issue the penalty after the bank was requested to explain its actions.

For violating the RBI's guidelines under the Interest Subvention Scheme, which offers farmers interest relief on short-term loans made through the Kisan Credit Card (KCC), IDBI Bank was fined Rs.31.80 lakh.

Bank of Maharashtra 

BoM received a fine of Rs.31.80 lakh for failing to fully comply with Know Your Customer (KYC) rules. The bank opened several deposit accounts using Aadhaar-based e-KYC through OTP, in a non-face-to-face manner, but did not meet all the regulatory requirements for such processes. This was identified during the RBI’s evaluation for the financial year ending March 31, 2024. The bank’s explanations and submissions were reviewed, and the penalty was imposed for deficiencies in following the KYC norms.

ICICI Bank 

ICICI Bank faced the highest penalty of Rs.97.80 lakh. The bank failed to report a cyber security incident to the RBI within the required time, did not implement an effective system for alerting suspicious account activity, and also failed to send credit card statements to certain customers—yet charged them late payment fees. These failures were considered serious breaches of customer service and operational transparency. After a detailed inspection and review of the bank’s responses, the RBI imposed the penalty.These penalties are aimed at reinforcing the importance of following regulatory standards. RBI emphasized that these fines are not judgments on the legal validity of customer transactions or contracts, but are strictly based on gaps in compliance. Penalties have been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 51(1) of the Banking Regulation Act, 1949.

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