Bank of Maharashtra (MAHABANK) Q3 25/26 earnings summary

Executive summary

• Net profit for Q3 FY25/26 rose 26.5% year-over-year to ₹1,779 crore, with operating profit up 18.8% and net interest income up 16.3%.

• Total business grew 17.24% year-over-year to ₹5,95,163 crore, with deposits up 15.3% and advances up 20%.

• Board approved unaudited standalone and consolidated financial results for the quarter ended 31 December 2025 and declared an interim dividend of 10% (₹1 per share).

• Government of India completed an Offer for Sale of 6% equity, reducing holding to 73.6% and meeting SEBI’s minimum public shareholding requirement.

• Return on assets improved to 1.86% and return on equity to 23.79% for the quarter.

Financial highlights

• Total income for Q3 FY25/26 reached ₹8,277 crore, up 16% year-over-year; nine-month net profit at ₹5,005 crore.

• Net interest income for Q3 FY25 was ₹2,943 crore, up 16.3% year-over-year; non-interest income increased 18% to ₹933 crore.

• Cost-to-income ratio improved to 37.19%, below the 40% guidance.

• Gross NPA ratio improved to 1.60% from 1.80% year-over-year; net NPA at 0.15%.

• Provision Coverage Ratio stood at 98.41% as of 31 December 2025.

Outlook and guidance

• Confident of achieving 14% deposit growth for the full year, with focus on retail and low-cost deposits.

• Guidance to maintain NIM at 3.75% and cost to income below 40%.

• Branch expansion to continue, with 321 new branches planned and board approval for 1,000 branches in five years.

• GDP growth forecast for FY26 revised upward to 7.3%; inflation forecast lowered to 2.0%.

• Bank continues to hold ₹1,200 crore as COVID-19 contingency provision.