Financial Performance Summary

Profitability:

  • Q2 FY2027 Net Profit: Rs 546.36 Cr, representing 28.8% growth quarter-on-quarter (from Rs 424.18 Cr in Q1 FY2027) and 10.6% growth year-on-year (from Rs 494.11 Cr in Q2 FY2026)
  • Return on Assets: 1.07% for the quarter, showing improvement of 20 bps sequentially

Income Statement:

  • Net Interest Income (NII): Rs 1502 Cr for Q2 FY2027, up 5% year-on-year
  • Other Income: Rs 314.90 Cr for Q2 FY2027, representing 100% growth year-on-year (from Rs 153.76 Cr) and 47% growth sequentially
  • Operating Profit for Half-Year: Rs 1,492 Cr, showing over 15% year-on-year growth
  • Operating Profit for Quarter: Over 26% year-on-year increase (exact figure not specified)
  • Operating Expenditure: Controlled growth of just 1.5% year-on-year for the half-year
  • Cost-to-Income Ratio: 56.57% for Q2 FY2027, improved from 60.79% in corresponding quarter last year

Asset Quality Metrics (Decadal Best)

NPA Ratios:

  • Gross NPA Ratio: 2.23% as of September 30, 2026, declining by 109 bps year-on-year and 14 bps quarter-on-quarter
  • Net NPA Ratio: 0.51% as of September 30, 2026, improved from 0.76% a year ago
  • Provision Coverage Ratio (PCR): 91.76% as of September 30, 2026, improved from 90.53% as of June 30, 2026
  • Gross Slippage Ratio: Annualized rate of 0.4% for the half-year

Business Growth

Overall Business:

  • Total Business: Rs 3,10,347 Cr as of September 30, 2026, representing 19.38% year-on-year growth

Advances:

  • Gross Advances: Rs 1,33,551 Cr as of September 30, 2026, up 23.72% year-on-year (from Rs 1,07,943 Cr)
  • RAM Segment Contribution: Over 60% of net incremental credit on year-to-date basis

Deposits:

  • Total Deposits: Rs 1,76,796 Cr as of September 30, 2026, up 16.30% year-on-year
  • CASA Deposits: Rose by 1.73% quarter-on-quarter
  • CASA Ratio: 41.97% as of September 30, 2026, broadly maintained around 42%

Capital Adequacy

  • Capital Adequacy Ratio (CRAR): 16.57% as of September 30, 2026, improved from 15.27% a year earlier

Management Commentary

MD & CEO Amitava Chatterjee highlighted:

  • Strengthening of earnings performance with growth in net interest income, doubling of other income, and over 26% YoY increase in operating profit
  • Recovery in Return on Assets to above 1% representing improvement over June quarter
  • Focus on building business base and positioning for stronger earnings
  • Second half priorities: sustaining core income growth, strengthening recurring revenue streams, enhancing recoveries, addressing funding costs through deeper deposit relationships
  • Disciplined underwriting and proactive credit monitoring mechanisms contributing to asset quality improvement
  • Vision 2030 business aspiration of Rs 5 lakh crore, with focus on strengthening deposit franchise, deepening relationships in Jammu and Kashmir and Ladakh, and selective expansion across the country
  • Confidence in further improving performance in second half with clear priorities and disciplined execution

Context

The results were reviewed and approved by the Board of Directors at a meeting held at the Bank's corporate headquarters on October 22, 2026. The announcement was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.