NII growth improves as NIM rises: Interest income increased 2% to Rs 41965.84 crore, while interest expenses fell 4% to Rs 20033.60 crore in Q3FY2026. NII improved 8% to Rs 21932.24 crore in Q3FY2026.

Margins improve: The bank has shown 36 bps YoY decline in cost of deposits to 4.55%, while yield on advances declined 57 bps YoY to 9.08% in Q3FY2026. NIM has improved 5 bps YoY to 4.30%, while remained flat qoq in Q3FY2026.

Slow growth in the core fee income: The non-interest income of the bank increased 4% to Rs 7368.16 crore in Q3FY2026. Bank has posted strong 6% growth in core fee income to Rs 6572 crore, while there were losses in the treasury segment at Rs 157 crore. The recoveries and other income improved 3300% to Rs 272 crore in Q3FY2026.

Expense ratio rises: The operating expenses of the bank increased 13% to Rs 11944.44 crore, as other expenses moved up 14% to Rs 7522.64 crore, while employee expenses rose 13% to Rs 4421.8 crore in Q3FY2026. Cost to income ratio moved up to 40.8% in Q3FY2026 compared with 38.5% in Q3FY2025. Operating Profit moved up 3% to Rs 17355.96 crore.

Provisions and contingencies increase: The bank has shown 108% increase in provisions to Rs 2556 crore.

PBT declined 5% to Rs 14800.38 crore in Q3FY2026. Effective tax rate declined to 23.5% in Q3FY2026 from 24.7% in Q3FY2025. Net Profit declined 4% YoY to Rs 11317.86 crore in Q3FY2026.

Asset quality improves: The bank has improved asset quality in Q3FY2026.

Business Highlights:

Business growth improves: The business of the bank has increased at an accelerated pace of 10% YoY to Rs 3125765 crore end December 2025, as advances growth improved to 12% to Rs 1466154 crore and deposits growth also improved to 9% to Rs 1659611 crore at end December 2025. With the faster growth in advances, the credit to deposit ratio rose to 88.3% at end December 2025 from 86.5% at end December 2024.

CASA deposits ratio stable: The CASA deposits of the bank increased 8% YoY to Rs 667590 crore at end December 2025. The current account deposits moved up 14% to Rs 206747 crore, while saving account deposits increased 6% to Rs 452124 crore end December 2025. The CASA ratio was nearly stable at 40.2% at end December 2025 compared to 40.5% at end December 2024 and 40.9% at end September 2025. The term deposits have increased 10% to Rs 992021 crore end December 2025.

Loan growth improves: Within the loan book, the retail loans increased 7% YoY to Rs 753798 crore at end December 2025, while credit to agriculture increased 5% to Rs 83389 crore and MSME credit increased 23% to Rs 304536 crore. The corporate credit has also increased 6% to Rs 296452 crore end December 2025. The overseas credit has increased 12% to Rs 35259 crore end December 2025. The share of retail, agriculture and MSME (RAM) eased to 77.9% at end December 2025 compared to 78.4% at end December 2024, while that of corporate loans rose to 22.1% at end December 2025 compared to 21.6% at end December 2024.

Investment book of the bank increased 5% YoY to Rs 494642 crore at end December 2025. The SLR book moved up 5% to Rs 404337 crore, while non SLR book rose 4% to Rs 90305 crore at end December 2025.

Branch expansion: The bank has added 139 branches and added 1373 ATMs in Q3FY2026, taking overall tally to 7385 branches and 11983 ATM`s end December 2025.

Book value of the bank stood at Rs 443.1 per share at end December 2025, while the adjusted book value (net of NNPA and 10% of restructured advances) was Rs 434.9 per share at end December 2025.

Consolidated results

Key subsidiaries

Financial Performance 9MFY2026:

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