• Event Type: Post-results earnings conference call for Q2 FY27 results discussion and investor interaction.
  • Date and Time: Held on October 19, 2026 (time not specified in transcript).
  • Purpose: Discussion of unaudited reviewed financial results for quarter ended September 30, 2026 and strategic updates.
  • Management Participants:
  • Shri Swarup Kumar Saha – Managing Director and Chief Executive Officer
  • Shri Ravi Mehra – Executive Director
  • Shri Rajeeva – Executive Director
  • Shri Arnab Goswamy – Chief Financial Officer
  • Mr. Dheeraj Kumar Gaur – Chief Risk Officer (participated in Q&A)
  • Moderator: Mr. Ganesh Shankanawar
  • Availability: Transcript was uploaded to bank's website and submitted to stock exchanges as regulatory compliance.
  • Compliance: The call discussed published results; no indication of UPSI sharing was mentioned.

Financial Highlights Discussed:

  • Overall business grew 15.73% YoY to ₹2,79,231 crores
  • Deposits grew 12.97% YoY to ₹1,53,312 crores
  • Advances grew 19.28% YoY to ₹1,25,919 crores
  • CD ratio at 82.13%
  • CASA ratio declined to 28.83% (7.5% YoY growth)
  • RAM advances grew 31% YoY, now at 61.37% of gross advances
  • Net interest income grew 22% YoY
  • Operating profit increased 22% YoY to ₹617 crores
  • Net profit increased 40% YoY to ₹412 crores
  • Core fee income grew 23.6% YoY
  • Gross NPA at 2.09%, Net NPA at 0.61%
  • PCR improved
  • Capital adequacy at 16.55% (CET-1 at 15.49%)
  • Net interest margin improved 17 bps YoY to 2.77%
  • Return on assets at 0.88%, Return on equity at 13.21%

Guidance and Outlook:

  • Deposit growth guidance: 13-14%
  • Advances growth guidance: 18-20%
  • CD ratio to remain around 82%
  • RAM advances target: 65% by March 2027, 70% by March 2028
  • Gross NPA target: below 2% by March 2027
  • Recovery and upgradation target: ₹1,000+ crores (already achieved ₹622 crores)
  • Business target: ₹3 lakh crore by FY27 end, ₹4 lakh crore by FY29 end

Strategic Initiatives:

  • Digital transformation with 12 products available through single QR code
  • 50%+ of vehicle loans and 40% of housing loans processed digitally
  • Gold loan limit enhanced to ₹50 lakhs from ₹2.5 lakhs
  • MSME digital lending enhanced to ₹3 crore
  • GIFT City branch expected to be operational by November 2026
  • Forex trade module to be implemented in Q3 FY27
  • Supply chain finance live with 2-3 corporates
  • Branch expansion planned in top 200 districts
  • HR transformation and capacity building programs

ECL Implementation Impact:

  • Expected additional impact of ~₹700 crore (approximately 5% of net worth)
  • Includes MTM impact on HTM investments
  • Net impact on CRAR expected to be minimal due to glide path provisions
  • Steady-state credit cost expected at 50-60 bps
  • SMA percentage reduced from over 9% to below 4%, targeting 2-2.5%

Capital Planning:

  • Exploring QIP route for capital raising
  • Merchant bankers appointed
  • Timing dependent on market conditions

Additional Notes Section

  • The document includes the full transcript of the earnings conference call with detailed Q&A session.
  • Multiple analysts participated including Sushil Choksey, Amansingh Sahajsinghani, Ashok Ajmera, and Rakesh Shah.
  • Topics discussed included credit growth strategy, digital roadmap, treasury outlook, ECL impact, recovery efforts, and financial inclusion initiatives.
  • The bank conducted 258 financial literacy camps reaching 3,383 participants and facilitated banking access for 59,897 individuals under PMJDY.
  • The bank has 590 rural branches and 331 metropolitan branches leveraging for deposit mobilization and financial inclusion.