State Bank of India (SBI) Q3 net profit jumps 24%

State Bank of India (SBI) reported a 24% year-on-year record (all-time high) standalone net profit of Rs 21,028 crore for the December quarter of FY26, reflecting steady growth in core income and recovery trends.

On a consolidated basis, the state-owned lender posted a 13.06 per cent rise in profit to Rs 21,317 crore during the quarter, according to a regulatory filing, PTI reported.

The bank’s standalone net interest income (NII) rose 9.04 per cent year-on-year to Rs 45,190 crore from Rs 41,446 crore in the corresponding period last year. The growth was supported by 15.14 per cent loan expansion, even as domestic net interest margin saw a marginal compression of 0.03 per cent to 3.12 per cent.

Non-interest income increased 15.65 per cent to Rs 8,404 crore during the quarter. Meanwhile, total expenses rose to Rs 1,08,052 crore compared with Rs 1,04,917 crore in Q3 FY25. The bank’s net interest margin (NIM) stood at 2.99% in Q3FY26, while domestic NIM was 3.12%. For the nine months ended December 2025, domestic NIM was recorded at 3.08%.

Deposit growth stood at 9.02 per cent during the October–December period.Fresh slippages were reported at Rs 4,458 crore, higher than Rs 3,823 crore in the year-ago period.

On asset quality, the gross non-performing assets (GNPA) ratio improved to 1.57 per cent as of December 31, 2025, compared with 1.73 per cent at the end of September. Total provisions rose to Rs 4,507 crore against Rs 911 crore in the year-ago period.

Provision coverage ratio (PCR), including AUCA, stood at 92.37%, while PCR excluding AUCA was 75.54%. The slippage ratio remained contained at 0.40%, and credit cost stood at 0.29%, as per ET report. On the balance sheet front, SBI’s total business crossed Rs 103 lakh crore. Deposits exceeded Rs 57 lakh crore, while advances crossed Rs 46 lakh crore.

The bank’s overall capital adequacy ratio stood at 14.04 per cent as of December 31, 2025, with core capital buffer at 10.99 per cent.

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Bank of Baroda Q3 Results: Profit rises

State-run lender Bank of Baroda posted a stable set of numbers for the December quarter, marked by modest profit growth, resilient asset quality metrics and loan book expansion that came in above management guidance.

Net profit rose 4.5% year-on-year to Rs.5,054 crore, compared with Rs.4,837 crore in the same quarter last year. Net interest income remained largely flat at Rs.11,800 crore, up marginally from Rs.11,786 crore a year ago.

Asset quality continued to improve, with gross non-performing assets easing to 2.04% from 2.16% sequentially. Net NPA stood unchanged at 0.57% quarter-on-quarter.

Collection efficiency, excluding agriculture, remained strong at 98.63% as of December 2025. Provision coverage ratio under NCLT accounts was reported at a healthy 99.66%.Segment-wise asset quality remained comfortable, with gross NPA ratios at 1.19% for housing loans (ex-pool), 1.75% for auto loans (ex-pool), 4.42% for personal loans and 0.56% for retail gold loans.

The bank’s loan book grew 14.6% year-on-year to Rs.13.43 lakh crore, exceeding management’s guidance of 11–13% growth. Sequentially, advances rose 5.1%. Domestic advances increased 13.54% year-on-year to ₹10.95 lakh crore. Deposits also grew 10.3% year-on-year to Rs.15.46 lakh crore during the quarter.

Bank of Baroda continued to exceed regulatory norms under priority sector lending, with total priority sector advances at 40.45% of adjusted net bank credit. Agriculture, small and marginal farmers, weaker sections and micro enterprises lending all stood above mandated thresholds.

The bank’s card business also showed steady traction. Active BOB Cards increased to 30.68 lakh as of December 31, 2025, while card spends for the first nine months of FY26 rose 17.3% year-on-year to Rs.31,101 crore.

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BOI and Union Bank of India Latest Merger News

The government is apparently considering a massive merger between Union Bank of India (UBI) and Bank of India (BoI), one of the biggest advances in India's banking industry. This action is a component of the larger "Merger 2.0" effort, which aims to create public sector banks (PSBs) that are stronger, smaller, and more globally competitive. 

With a network of more than 12,000 branches across the country and assets potentially topping ₹25 lakh crore, the combined company would rank among India's biggest public sector banks if the merger proceeds. According to analysts, this consolidation might benefit around 25–30 crore clients, making it a significant force in India's banking industry.

Why “Merger 2.0” Matters

The government’s push for PSB consolidation is driven by several goals:

1. Global Competitiveness – Creating banks large enough to compete with international lenders.

2. Operational Efficiency – Streamlining processes and reducing non-performing assets (NPAs).

3. Credit Capacity – Strengthening the ability to fund large infrastructure projects and support MSMEs.

4. Financial Stability – Reducing fragmentation among PSBs and building stronger balance sheets.

Other Banks on the Watchlist

Union Bank and BoI are not the only institutions under consideration. Other PSBs frequently mentioned for potential future mergers include:

• Indian Overseas Bank (IOB)

• Central Bank of India

• UCO Bank

• Bank of Maharashtra

• Punjab & Sind Bank

The goal is to reduce the total number of PSBs from 12 to 4–5 large, efficient banks, capable of competing at a global level.

While official approvals are still pending, account holders should be aware of potential changes:

IFSC codes, chequebooks, and banking apps may be updated.

Enhanced digital banking services are likely after consolidation.

Broader branch networks and improved credit access for individuals and businesses.

The government emphasizes that these mergers aim to benefit customers with better service, stronger security, and more financial options.

Sources indicate that internal due diligence is underway, with a tentative target to complete operational integration by December 2026 or early FY 2026-27. However, formal notifications are still awaited from the Finance Ministry.

If implemented, the Union Bank–BoI merger would be one of the most impactful banking consolidations in India in decades, marking a bold step in the government’s strategy to modernize and strengthen public sector banks.

Stay tuned for official updates, which are expected around the Union Budget 2026 announcements on February 1, 2026.

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IDFC First Bank Q3 Net profit jumps 48% YoY

IDFC First Bank announced its October to December quarter results for the financial year ending 2025-26 on Saturday, 31 January 2026. The company recorded a 48% rise in its standalone net profits to Rs.502 crore, compared to Rs.339 crore in the same quarter of the previous financial year.

company's interest income rose 11% to Rs.10,417 crore for the October to December quarter of the fiscal year ending 2025-26, compared to Rs.9,343 crore in the same period a year ago.IDFC First Bank's income from other operations witnessed a 19% increase to Rs.2,125 crore in the third quarter, compared to Rs.1,779 crore in the same period a year ago.

The institutional lender's total expenses for the October to December quarter witnessed a 12% rise to Rs.10,508 crore, compared to Rs.9,363 crore in the same period of the previous financial year, according to the standalone statements.IDFC First Bank's non-performing assets portion witnessed a 25 basis point fall to 1.69% in the October to December quarter, compared to 1.94% of the same period of the previous financial year, according to the company's stock exchange filings.

Although the overall gross NPA dropped, the net NPA rose 1 basis point to 0.53%, compared to 0.52% in the same period of the previous quarter, the filings showed.The company's retail banking segment, along with the wholesale banking and treasury operations, contributed the most to the rising income for the quarter.

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Canara Bank Q3 results: Net profit up 25.6%

Canara Bank reported a 25.6 per cent year-on-year (Y-o-Y) rise in its net profit to Rs.5,155 crore for the third quarter of the current financial year (Q3 FY26) on the back of a rise in its non-interest income.

 

The state-owned lender’s non-interest income rose 36.16 per cent Y-o-Y to Rs7,900 crore in Q3 FY26. Canara Bank shares slipped 4.75 per cent to Rs.150.30 per share on Thursday as net interest income growth was flat.

 

Net interest income (NII) — the difference between interest earned and interest expended — went up 1.13 per cent to Rs.9,252 crore. Net interest margin for Q3 fell to 2.45 per cent as compared to 2.71 per cent in the year-ago period.

“The pressure on the NIM continues. To curb the pressure, the bank is focusing on RAM and low-yielding corporate advances. The bank is following a shift from retail to corporates and to RAM to improve margins,” said SK Majumdar, executive director, Canara Bank, during the post-earnings call with the media.

 

Canara Bank reported a 13.6 per cent growth in its global advances to Rs.11.92 trillion, while global deposits were up 12.95 per cent year-on-year to Rs.15.21 trillion.The bank said both loan growth and deposit growth were higher than the guided range provided earlier.

In total advances, RAM (retail, agri and MSME) advances rose 18.7 per cent and advances to corporates rose almost 7 per cent. The bank expects credit growth of 13.5 per cent and deposit growth of 12.95 per cent for the current financial year.

 

The public sector lender reported 9.32 per cent year-on-year growth in current account and savings account (CASA), while it fell 3.7 per cent sequentially. The bank’s credit-to-deposit ratio for the quarter was at 78.38 per cent.

 

Asset quality for the lender saw improvement from the previous quarter. Gross non-performing assets stood at 2.08 per cent from 2.35 per cent in September, and 3.34 per cent a year ago.

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State Bank of India(SBI) Circle Based Officers(CBO) Recruitment 2026, Notification Out,How to Apply

The State Bank of India (SBI) has issued the official notification for the recruitment of candidates to the post of Circle Based Officers (CBO) 2026. All details related to this recruitment, such as eligibility, age limit, vacancies, notification pdf, online application link, exam pattern, syllabus, important dates, last date to apply, age limit, education qualifications, etc. are given below.

SBI CBO Recruitment 2026 Important Dates

• Notification Released: 28 January 2026
• Application Start Date: 29 January 2026
• Last Date to Apply: 18 February 2026 (till 11:59 PM)
• Fee Payment Last Date: 18 February 2026
• Examination Date: March 2026

SBI CBO Recruitment 2026 Salary Details

• The starting basic pay is ₹48,480 under the pay scale ₹48,480–2,000/7–62,480–2,340/2–67,160–2,680/7–85,920, along with two advance increments.
• In addition to basic pay, selected candidates will be entitled to Dearness Allowance (DA), HRA/Lease Rental, CCA, Provident Fund, National Pension System (NPS), Leave Fare Concession (LFC), medical benefits, and other allowances and perks as per existing rules.

SBI CBO Recruitment 2026 Notification & Apply Online

SBI CBO Recruitment 2026 Notification

Click Here to Apply Online for SBI CBO

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Nationwide bank strike on January 27 hits operations across India

Approximately 8 lakh bank employees and officers nationwide participated in the nationwide bank strike organized by the United Forum of Bank Unions (UFBU) on January 27, 2026, according to a news release from the bank unions. 

The strike was seen in public sector banks, private sector banks, foreign banks, regional rural banks, and cooperative banks, according to the UFBU, an umbrella organization of nine unions that represent bank officials and employees. 

The forum described the strike as a "total success," stating that it had a significant negative impact on regular banking operations across the country.The strike was called to press for the long-pending demand for a five-day work week in the banking industry, including declaring all Saturdays as bank holidays. At present, only the second and fourth Saturdays of every month are bank holidays.

"The government has refused to approve the implementation of the five-day banking week despite repeated assurances and formal agreements, so we were forced to go on strike," UFBU stated in a statement. The unions cited a memorandum of agreement signed with UFBU on December 7, 2023, and the subsequent settlement and joint note dated March 8, 2024, as the basis for the Indian Banks' Association's (IBA) recommendation of a five-day workweek. In order to make up for Saturdays being designated as holidays, everyday working hours from Monday through Friday were to be extended by forty minutes.

According to UFBU, the demand for a five-day work week has been pending since 2015, when the IBA and the government agreed to declare the second and fourth Saturdays as holidays, with an assurance that the remaining Saturdays would be reviewed later. However, the matter has remained unresolved despite further discussions in 2022 and a formal recommendation made in 2023.

The forum also noted that similar work-week patterns are already in place in institutions such as the Reserve Bank of India, Life Insurance Corporation of India, and General Insurance Corporation, besides central and state government offices. Stock exchanges and money markets also function only from Monday to Friday.

 

Conciliation meetings were held by the Chief Labour Commissioner on January 22 and 23, 2026, in New Delhi, with officials from the finance ministry participating. However, UFBU said the meetings did not yield any positive outcome, prompting the unions to go ahead with the strike.

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Axis Bank Q3 net profit rises 3%

Axis Bank reported a 3% rise in its standalone net profit for the quarter ended December 2025, reaching Rs.6,490 crore compared to Rs.6,304 crore from the same period last year.

The private sector bank's Net Interest Income (NII) for Q3FY26 was Rs.14,287 crore, reflecting a 5% year-on-year (YoY) increase and a 4% quarter-on-quarter (QoQ) rise, while its Net Interest Margin (NIM) for Q3FY26 was recorded at 3.64%.

In Q3FY26, the private bank generated an interest income of Rs.32,274 crore, which is 4.3% higher than the Rs.30,954 crore reported in the corresponding period of the previous financial year.

The company's profit after tax (PAT) experienced a 27% growth on a sequential basis, increasing from Rs.5,090 crore in Q2FY26.

Net Interest Income for the first nine months of FY26 reached Rs.41,591 crores, reflecting a 3% increase compared to the previous year. Fee income increased by 11% year-over-year to Rs.17,883 crores.

The operating profit for the first nine months of FY26 rose by 5% to Rs.32,803 crores, up from Rs.31,353 crores in the same period of FY25. Core operating profit also saw a 5% growth to Rs.30,824 crores, compared to Rs.29,341 crores in FY25.

Total provisions for the first nine months of FY26 amounted to Rs.9,741 crores. Net profit for FY26's first nine months was Rs.17,385 crores, representing a 10% decline from the previous year.

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UFBU Meeting 23 January 2026 Updates - 5 Days Banking

Today (23.01.26) again a meeting was held between UFBU, DFS, IBA, CLC and Bank Management for implementation of 5-Day Banking. The meeting was held at 3:30 PM in continuation to yesterday’s (22.01.26) meeting. Yesterday, the talks between UFBU and the Government of India failed, and the strike continued. Today also, the talks between UFBU and the government failed, and the strike will be conducted all across India on 27 January 2026.

Once again, the conciliation proceedings started to discuss the issue contained in the strike notice dated 08.01.2026 for the proposed strike to be held on 27.01.2026. At the outset, the Ld. representatives of DFS submitted that things are moving in the right direction and some decisions have been taken yesterday in favour of the Financial Sector. Accordingly, he requested the Ld. representatives of UFBU to reconsider their stand and defer the strike reflecting good gesture which may lead to positive outcomes.

At this stage, the Ld. representatives of IBA also requested in the same line of DFS and reiterated to consider the appeal so as to ensure that the dignitaries persuading their causes before the competent authorities may be strengthened to put forth their submission positively.

On the other hand, the Ld. representatives of UFBU reiterated that they are aware about the meaning and consequence of strike which is the ultimate legal right with the workmen. As such, they are not also of the intent to use such a stringent measure for pressing on the demand but as they have already deferred three such consecutive occasions of the proposed strike on some of the issues which contained the issue of 5 days banking also. As the Govt. is not at all responding on the issue of 5 days banking, they do not have any option in such compelling circumstances but resort to strike.

As the stalemate continued, the CLC(C) as Conciliation Officer also made an appeal to the Ld. union representatives to reconsider and avoid any direct action in the public interest so that industrial harmony be maintained. At the same time, the CLC(C) also advised other stakeholders to convey the message at appropriate level and try their level best to resolve the issue in public interest. It is also pertinent to mention at this stage that office of the CLC(C) is always open to facilitate the dialogue whenever it is required.

In the meantime, the provisions contained u/s 33(1) and 22 of the ID Act, 1947 shall remain in vogue. Next date in the matter is fixed on 09.03.2026 at 11.30 AM.

🗞️ What's happening right now about Strike

• Nationwide bank strike planned for  January 27, 2026 — Bank employee unions under the United Forum of Bank Unions (UFBU) have called a one-day nationwide strike to press for the implementation of a full five-day work week (i.e., both Saturdays off). 

• Banks likely to be closed for up to four days, from Jan 24–27, 2026 — because the strike overlaps with regular weekend holidays and Republic Day holidays. 

• Disruption in banking services expected across Gujarat and other states on Jan 27, with many branches closed and services slowed down. Around 800,000 bank employees are expected to participate nationwide; in Bihar alone, about 8,100 branches and 50,000 staff are involved. 

• Unions have also been urging political support (for example from West Bengal’s Chief Minister) to strengthen their strike call and demands. 

• The strike demand centers around the five-day working week, a change that was recommended by the banking industry earlier but hasn’t yet been formally implemented by the government. 

📌 Why it matters

• Customer impact: Physical bank branches may be shut on the strike day — but digital services (mobile banking, ATMs, online transfers) often remain available. Plan ahead for essential transactions. 

• Union demands: The main focus is the five-day work week, but bank workers often include other issues in agitation (staff shortages, working conditions, staffing norms etc.). 

If you’d like, I can pull specific state-wise closure lists or official notifications from your local banks for Jan 27 specifically.

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IndusInd Bank Q3 Net profit plunges 89% YoY

Private lender IndusInd Bank on January 23 said its standalone net profit fell 89% in the December quarter to Rs 161 crore.The lender reported net profit of Rs 1,401 crore a year ago. However, the lender posted a profit on sequential basis due to drop in provisions as the lender reported Rs 445-crore loss in the second quarter of FY26.

Net interest income — the difference between interest earned on advances and interest paid on deposits — climbed 3% quarter on quarter but fell 13% year-on-year to Rs 4,562 crore.

Rajiv Anand, the MD and CEO, IndusInd Bank said: "During Q3FY26, the Bank continued focus on optimisation of its balance sheet by letting go unprofitable loans and deposits along with being cautious on microfinance disbursements. The operating performance was steady with Pre-Provision Operating Profit at Rs 2,270 crore growing 11% QoQ. Our asset quality trends have been stable in all core businesses except in microfinance wherein industry is now showing early signs of recovery. Overall, the Bank has returned to profitability with a Profit After Tax of Rs 128 crore. The Balance sheet remains robust with a healthy capital adequacy, excess liquidity and reducing stressed asset pool. We are optimistic about resilient domestic economy and aim to participate in the growth recovery in a calibrated manner."

"The Provision Coverage Ratio improved at 71.5% as on December 31, 2025. Provisions and contingencies for the quarter ended December 31, 2025, were Rs 2,096 crores as compared to Rs 1,744 crores for the corresponding quarter of previous year. Total loan related provisions as on December 31, 2025, were at Rs 10,027 crore (3.16% of loan book)," said the lender in a stock exchange filing.

The lender's net interest margin was 3.52% in Q3FY26 as against 3.32% a quarter ago.Earlier in the day, the lender said its chairman Sunil Mehta will step down when his term ends in January, and named former State Bank of India Managing Director Arijit Basu as his successor.

For the quarter ended December, IndusInd's provisions and contingencies fell 20% from the previous quarter to Rs 2,089 crore. In the September quarter, the bank raised provisions for its microloan portfolio, resulting in a loss of Rs 445 crore.

The bank's loan book shrank 13.1% as of December-end from a year earlier, while deposits declined 3.8%, it said earlier this month.The bank has seen its top leadership change over the last year, amid concerns over governance and accounting lapses, which led to the exit of former CEO Sumant Kathpalia and Deputy CEO Arun Khurana.

IndusInd took a Rs 2,100-crore hit to its accounts and posted its largest-ever loss in the March quarter. It swung back to profitability in the June quarter, and veteran banker Rajiv Anand assumed charge as chief executive at the end of August.

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