ICICI Bank Q1 Net profit rises 16%

Private sector lender ICICI Bank announced its earnings for the quarter ended June 2026 today, July 18. ICICI Bank posted a net profit of ₹14,804.50 crore, up 16% from ₹12,768.21 in the same period last year.

The bank reported healthy growth in its core lending business during the June quarter, with net interest income (NII) rising 12.7% year-on-year to ₹24,384 crore. The growth was driven by strong credit expansion and an improvement in margins. Net interest margin (NIM) for Q1 FY27 stood at 4.36%, compared with 4.34% in the corresponding quarter last year.

On the asset quality front, the bank continued to strengthen its balance sheet, with the gross non-performing asset (GNPA) ratio improving to 1.38% and the net non-performing asset (NNPA) ratio standing at 0.35% as of June 30, 2026.

The bank's total advances increased 19.6% year-on-year to ₹16,31,260 crore as of the end of the quarter, while total deposits grew 14% to ₹18,33,586 crore. The retail loan portfolio accounted for 49.2% of the overall loan book and registered 12% year-on-year growth.

The business banking portfolio grew by 28.2% YoY and the rural portfolio grew by 35.4% YoY in Q1FY27. The bank’s domestic corporate portfolio grew by 18.5% YoY in Q1 and the domestic advances grew by 18.8% compared to the same quarter last fiscal.

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Axis Bank Q1 Results: Net profit jumps 23% YoY

For the April–June quarter of FY27, Axis Bank recorded a standalone net profit of Rs 7,114 crore on Saturday. This is a 22.5% year-over-year increase from Rs 5,806 crore in the same quarter of the prior fiscal year.

The private lender’s net interest income (NII) meanwhile rose more than 8% YoY to Rs 14,646 crore during the first quarter of the ongoing financial year 2027, from Rs 13,560 crore reported in the same period last year. Notably, this is higher than Nomura and Kotak Institutional’s estimates. Net interest margin during the quarter under review stood at 3.46%.

Axis Bank's gross non-performing assets (GNPA) declined around 4% YoY to Rs 17,124 crore, while net NPA rose around 2.5% YoY to Rs 5,193 crore. The gross NPA and net NPA ratios improved on a YoY basis to 1.28% and 0.39%, respectively. However, both increased sequentially from 1.23% and 0.37% in Q4 FY26.

The lender’s debt-to-equity ratio stood at 1.12% in Q1 FY27, as against 1.15% in Q4 FY26 and 0.98% in Q1 FY26. Axis Bank's net worth meanwhile rose around 14% YoY to Rs 2.03 lakh crore during the quarter under review, while net slippage ratio fell 121 bps YoY to 1.12%.

Return on Average Assets stood at 1.51% during the first quarter of FY27, as against 1.47% in the year-ago period. Its current account savings account (CASA) deposits rose 11% to Rs 5.22 lakh crore, as on June 30, 2026.

Provision and contingencies for Q1 FY27 stood at Rs 2,223 crore, while specific loan loss provisions stood at Rs 2,079 crore. Axis Bank said that during Q4 of FY26, it had proactively strengthened its balance sheet by voluntarily enhancing its prudent provisioning framework for standard assets, in line with conservative risk-management philosophy.

The share of CASA deposits in total deposits stood at 38%. On QAB basis, total deposits grew 6% QoQ and 18% YoY, within which savings account deposits grew 14% YoY, current account deposits grew 13% YoY, and term deposits grew 21% YoY.

The lender’s advances rose 19% YoY and 2% QoQ to Rs 12.62 lakh crore as on June 30, 2026. Retail loans grew 8% YoY to Rs 6,76 lakh crore and accounted for 54% of the net advances. The share of secured retail loans stood at around 73%, with home loans comprising 26% of the retail book. Small Business Banking (SBB) advances grew 2% QoQ and 18% YoY, while loans against property rose 11% YoY, personal loans increased 7% YoY, credit card advances grew 5% YoY and the rural loan portfolio expanded 16% YoY.

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Central Bank of India Q1 results: Profit jumps 13%

Central Bank of India, a public sector lender, announced on Friday that its net profit for the June quarter increased by 13% to ₹1,324 crore.

In the same quarter of the prior fiscal year, the lender made a net profit of ₹1,169 crore.

According to a regulatory statement by the Central Bank of India, total income increased to ₹10,678 crore in the June 2026 quarter from ₹10,360 crore in the same period of FY26.

The bank earned ₹9,691 crore in interest during the quarter, up from ₹8,589 crore during the June quarter of FY26.

But compared to the same period last year, the bank's operating profit dropped to ₹2,186 crore from ₹2,304 crore.

Gross non-performing assets (NPAs) decreased to 2.60 percent of gross loans at the end of the June quarter from 3.13 percent a year earlier, indicating an improvement in the bank's asset quality.

As of June 30, 2026, the bank's net non-performing assets (NPAs) were steady at 0.49%.

Consequently, provisions for bad loans fell sharply from ₹468 crore at the end of June 2025 to ₹346 crore.

The bank's capital adequacy ratio increased to 18.28% during the quarter from 17.66% at the conclusion of the first quarter of FY26.

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Union Bank of India Q1 Profit jumps 30% YoY

Union Bank of India, a public sector bank (PSB), announced on Wednesday, July 15, that its standalone profit for the April-June quarter of the current fiscal year (Q1FY27) increased by 29.6% year over year (YoY) to ₹5,332.30 crore. In the same quarter of the prior fiscal year, the lender made ₹4,115.53 crore.

The bank's total income for the June quarter rose by 1.3% YoY to ₹31,806.20 crore. In Q1FY26, its total income was ₹31,405.03 crore.

Union Bank of India's operating expenses declined by 0.80% YoY to ₹6,637.66 crore from ₹6,689.67 crore in the same quarter last year.

Operating profit for the quarter under review jumped nearly 16% YoY to ₹8,002.58 crore from ₹6,908.66 crore in the June quarter of the last financial year.

Its provisions and contingencies, other than taxes, declined to ₹979.42 crore in Q1FY27 from ₹1,664.51 crore in the corresponding quarter of the previous financial year, and ₹1,054.98 crore in Q4FY26.

Gross advances during the quarter increased by 12.50% YoY, while total deposit grew by 3.50% YoY, with total deposits base of ₹12,83,366 crore by the end of the June quarter. The bank said it had a total business of ₹23,79,697 crore as on 30 June 2026.

Gross NPA (%) reduced by 87 bps YoY to 2.65% and net NPA (%) reduced by 15 bps YoY to 0.47% as on 30 June this year.

The bank's return on assets (RoA) and return on equity (RoE) stood at 1.36% and 17.23%, respectively, during Q1FY27.

Net interest income (NII) increased by 10.15% YoY and 6.71% QoQ to ₹10,037 crore, while net interest margin (NIM) increased by 4 bps YoY and 16 bps QoQ to 2.80%.

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Big PSU Bank Disinvestment Move: Govt Eyes OFS for Some PSBs

According to official sources who spoke to NDTV Profit, the Center intends to implement an Offer for Sale (OFS) in Indian Overseas Bank (IOB) as part of its strategy to decrease its stake in public sector banks and adhere to minimum public shareholding requirements. The OFS is anticipated to be launched shortly in order to reduce the government's 92.44% ownership of Indian Overseas Bank.

This comes after the government successfully sold a 2.17% share in IOB through an OFS in December 2025, which was well appreciated by investors.

In order to satisfy public float requirements, the government is anticipated to continue selling stakes in public sector banks in the upcoming months, according to official sources.

The next banks to be considered for stake dilution are probably Punjab & Sind Bank and UCO Bank.

Currently, the government controls 90.95% of UCO Bank and 93.85% of Punjab & Sind Bank, both of which are substantially more than the minimum public shareholding requirement for listed businesses.

The Center's larger disinvestment policy, which aims to increase market liquidity in state-owned businesses while retaining majority control, includes the proposed stake sales.

The Department of Investment and Public Asset Management (DIPAM) has so far raised Rs 20,272 crore through disinvestment in FY27, according to official sources.

Separately, in an effort to raise funds through strategic share sales and the monetization of public assets, the government has set an asset monetization target of Rs 80,000 crore for the current fiscal year.

Source - NDTV Profit

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Expected DA for Bank Employees from August 2026

DA for bank employees from August 2026 is estimated at ~27.47% under the 12th Bipartite Settlement — with April 2026 CPI-IW confirmed at 149.9 and May 2026 

CPI-IW now also confirmed at 150.8 (Labour Bureau, 30 June 2026), only one data point (June 2026 CPI, due 31 July 2026) remains to lock in the final figure. 

May–July 2026 DA is confirmed at 25.70% (effective 1 May 2026; January–March 2026 quarterly average: 148.73; March CPI 149.10). The previous quarter (February–April 2026) DA was 25.00%.

Aug 2026 DA: ~27.47% estimated (Apr 149.9 ✓ · May 150.8 ✓ · Jun pending) · May–Jul 2026 DA: 25.70% ✓ Confirmed (effective 1 May 2026 · Mar CPI 149.10 · Avg 148.73) · Payable on: Basic + SA + PQP + stagnation increment · Formula: Quarterly avg CPI (2016=100) − 123.03

Aug 2026 DA — Expected

~27.47%

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One More Step Towards Privatisation? Government to Sell Stakes in 6 PSUs, Targets ₹80,000 Crore in FY27

During the current fiscal year 2026–2027, the Central Government expanded its disinvestment activities by lowering its ownership of six Central Public Sector Enterprises (CPSEs). In addition to banks, the government is reducing its ownership of other public sector businesses. Through disinvestment, the government has so far raised almost ₹20,000 crore. This now exceeds the ₹16,885 crore that was collected during the course of the previous fiscal year.

The Central Government has raised a total of ₹18,561 crore by selling shares in the Central Bank of India, Coal India, NHPC, NLC India, General Insurance Corporation (GIC), and Indian Railway Finance Corporation (IRFC). The government raised the following approximate sum from the sale of PSU stakes:

Company / Organisation	Amount Raised Through OFS
Central Bank of India	Over ₹2,200 crore
Coal India	Over ₹5,500 crore
NHPC	Over ₹4,300 crore
NLC	Over ₹1,200 crore
GIC	Over ₹3,000 crore
IRFC	Over ₹2,000 crore
Cochin Shipyard	Over ₹1,700 crore

This amount is just in 3 months of the financial year. This amount is higher than the total amount raised by the Government in the last few years. It seems the Government has increased the speed of disinvestment. The government raised ₹16,885 crore in FY 2025-26 and ₹10,163 crore in FY 2024-25. The government had collected ₹16,507 crore in FY 2023-24, ₹35,293 crore in FY 2022-23, ₹13,534 crore in FY 2021-22 and ₹32,886 crore in FY 2020-21.

It seems the NDA-led government has put disinvestment on top of its agenda. Almost all PSU stake sales during the current financial year have been carried out through the Offer for Sale route. 

The government is also planning to strategically disinvest in a number of other Central Public Sector Enterprises. Among them are Air India Engineering Services Ltd. (AIESL), Rashtriya Ispat Nigam Ltd. (RINL), and Container Corporation of India (CONCOR).

On stock exchanges, 68 CPSEs are listed. The government owns shares in these businesses worth more than ₹22.80 lakh crore. In addition, 16 public financial institutions, including banks and insurance firms, are listed; the government owns shares in these organizations worth around ₹19 lakh crore. As a result, the government can readily sell a portion of these businesses.

The government’s strategic disinvestment programme is also continuing, although the process has been slow. The Expression of Interest process has been completed for the strategic sale of six CPSEs. These include IDBI Bank, NMDC Steel, HLL Lifecare, Projects & Development India Ltd (PDIL), BEML and Shipping Corporation of India (SCI). 

According to Finance Ministry officials, the strategic sale of IDBI Bank is likely to be revived soon. The process had earlier been put on hold because of valuation concerns and limited interest from investors. The government is now expected to move ahead with the stake sale process again.

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Bank of Maharashtra Q1 Net profit jumps 27% YoY

On Friday, July 10, Bank of Maharashtra announced a 27% year-over-year increase in net profit to ₹2,020 crore for the quarter ended June 2026 (Q1 FY27), which was fueled by a robust increase in interest revenue and an improvement in asset quality.

In the same quarter of the prior fiscal year, the state-owned banking reported a net profit of ₹1,593 crore.

A regulatory filing states that overall income increased from ₹7,879 crore a year earlier to ₹9,063 crore during the quarter. Additionally, interest income rose to ₹8,037 crore from ₹7,054 crore during the same time last year.

According to the bank's exchange filing, Net Interest Income (NII) rose 14.53% year-on-year to ₹3,770 crore in Q1 FY27, compared with ₹3,292 crore in the corresponding quarter last year. On a sequential basis, NII increased 1.82%.

The bank's cost-to-income ratio improved to 35.04% from 37.57% a year ago and 36.51% in the March 2026 quarter.

Return on Assets (RoA) also strengthened to 1.90%, up from 1.80% in Q1 FY26, while net advances registered a robust 27.22% year-on-year growth to ₹3,01,934 crore.

The bank's asset quality strengthened further, with the gross non-performing asset (GNPA) ratio improving to 1.45% of gross advances as of June-end, down from 1.74% a year ago. The net NPA (NNPA) ratio also declined to 0.13%, compared with 0.18% in the corresponding period last year.

Meanwhile, the bank's capital adequacy ratio (CAR) stood at 18.64% at the end of the June quarter, compared with 20.06% in the year-ago period.

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Indian Bank Q1 Standalone net profit rises 10% YoY

For the April–June quarter of FY27, Indian Bank declared a standalone net profit of Rs 3,273 crore on Friday. This represents a more than 10% year-over-year (YoY) increase from Rs 2,973 crore recorded in the same quarter of the previous fiscal year.

The PSU lender’s net interest income (NII), meanwhile, rose nearly 17% to around Rs 7,435 crore in Q1 FY27 from Rs 6,359 crore in Q1 FY26. The company’s shares surged around 10% following the release of the results.

Indian Bank’s rise in net profit and NII was accompanied by a sharp improvement in asset quality. Gross non-performing assets (GNPA) fell nearly 30% YoY to Rs 12,710 crore, while the gross NPA ratio declined to 1.86% from 3.01% in Q1 FY26. Net NPA, meanwhile, fell over 4% YoY to Rs 990 crore, with the net NPA ratio improving to 0.15% from 0.23% a year earlier.

The PSU bank’s net worth rose nearly 14% YoY to Rs 68,793 crore in the first quarter of FY27, from Rs 60,383 crore in the same period of FY26. Its operating profit margin rose to 26.82% from 25.48% a year earlier, while net profit margin edged down to 15.79% from 15.88% in Q1 FY26.

Indian Bank’s return on assets rose to 1.34%, while earnings per share (EPS) increased to Rs 24.92. Its capital adequacy ratio stood at 17.80%, while total advances grew around 14% to Rs 6.84 lakh crore.

The bank said its slippage ratio declined to 0.77% in June 2026 from 0.94% in June 2025. Yield on investments (YoI), meanwhile, stood at 6.96%, while domestic net interest margin (NIM) improved to 3.41% from 3.35% a year earlier.

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Court Sentences Bank of India(BOI) Senior Manager to 7 Years Jail in Major Fraud Case

 

In a bank fraud case, the CBI Court in Bhopal convicted two defendants, Mohan Singh Solanki (a private individual) and Piyush Chaturvedi (then Senior Branch Manager, Bank of India, Misrod Branch, Bhopal), to seven years of rigorous imprisonment (RI) and a fine of Rs. 60,000.

Based on a written complaint submitted by the then-Dy. Zonal Manager, Bank of India, Zonal Office, Bhopal, the Central Bureau of Investigation (CBI) registered the case on January 25, 2016. On November 21, 2013, a term loan and cash credit limit of Rs. 30,00,000 were allegedly illegally and dishonestly approved in the name of M/s Sunny Enterprises by accused Piyush Chaturvedi, the Senior Branch Manager of the Bank of India, Misrod Branch, Bhopal.

On the same day, an RTGS transaction was used to fraudulently debit Rs. 22,00,000 from the account of M/s Sunny Enterprises based on a forged and fabricated RTGS form and voucher. The money was then transferred to the account of accused Mohan Singh Solanki's M/s Gold Fly Aish, and both accused misappropriated it in order to further their criminal conspiracy.

The Bank suffered a large loss as a result. After conducting an investigation, the CBI brought charges against Mohan Singh Solanki and Piyush Chaturvedi. Following the trial, the Hon'ble Court found the accused guilty and punished them appropriately.

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