Bank of Maharashtra net rises 35% on robust loan growth

Mumbai: State owned Bank of Maharashtra reported a net profit of ₹2,014 crore in the fourth quarter of FY26, increasing 35% from ₹1,493 crore last year led by strong loan growth and a decrease in provisions. For the full year of FY26, net profit stood at ₹7,019 crore, increasing 27% from FY25.

Retail agriculture and MSME advances grew 21% year-on-year led by a 32% increase in retail advances. As a result, the bank’s net interest income (NII) increased 19% to ₹3,702.5 crore, up from ₹3,116.4 crore reported during the same quarter last year. Net interest margin (NIM) or the difference between the yield on advances and that paid on deposits improved to 3.9% from 3.9% a year ago. Total deposits for the bank rose by 14% year-on-year to ₹3.50 lakh crore.

“We expect credit to grow at 18%, while deposits to grow at 14% to 15% in FY27,” said Nidhu Saxena, CEO, Bank of Maharashtra. Treasury income of the bank fell 63% to ₹33 crore in March 2026 from ₹97 crore a year earlier. The bank’s board passed an enabling resolution to raise capital up to ₹7,500 crore through equity and debt. It will also raise ₹10,000 crore through long-term infra bonds in fiscal 2027.