Kotak Mahindra Bank Consolidated PAT For Q2FY26 At ₹ 4,468 Crore Standalone PAT For Q2FY26 At ₹ 3,253 Crore

The Board of Directors of Kotak Mahindra Bank (“the Bank”) approved the unaudited standalone and consolidated results for the quarter and half-year ended September 30, 2025, at the Board meeting held in Mumbai, today. 

Consolidated results at a glance

Consolidated PAT for Q2FY26 stood at ₹ 4,468 crore (₹ 5,044 crore in Q2FY25).

PAT of Bank and key subsidiaries given below:

PAT (₹ crore)	Q2FY26	Q2FY25
Kotak Mahindra Bank	3,253	3,344
Kotak Securities	345	444
Kotak Asset Management & Trustee Company	258	197
Kotak Mahindra Prime	246	269
Kotak Mahindra Investments	120	141
Kotak Alternate Asset Managers	104	22
Kotak Mahindra Capital Company	60	90
Kotak Mahindra Life Insurance	49	360

Consolidated Customer Assets which comprise Advances (incl. IBPC & BRDS) and Credit Substitutes grew to ₹ 576,339 crore as at September 30, 2025, up 13% YoY from ₹ 510,598 crore as at September 30, 2024.

Total Assets Under Management as at September 30, 2025 grew to ₹ 760,598 crore , up 12% YoY from ₹ 680,838 crore as at September 30, 2024. The Domestic MF Equity AUM increased by 14% YoY to ₹ 362,694 crore as at September 30, 2025.

Consolidated Networth as at September 30, 2025 was ₹ 167,935 crore. The Book Value per Share increased to ₹ 844 as at September 30, 2025, up 14% YoY from ₹ 740 as at September 30, 2024.

At the consolidated level, Return on Assets (ROA) for Q2FY26 (annualized) was 1.97%. Return on Equity (ROE) for Q2FY26 (annualized) was 10.65%. 

Consolidated Capital Adequacy Ratio as per Basel III as at September 30, 2025 was 22.8% and CET I ratio was 21.8% (including unaudited profits).

Average Liqudity Coverage Ratio stood at 132% for Q2FY26.
Kotak Mahindra Bank standalone results 

Net Advances increased 16% YoY to ₹ 462,688 crore as at September 30, 2025 from ₹ 399,522 crore as at September 30, 2024.

Average Total Deposits grew to ₹ 510,538 crore for Q2FY26, up 14% YoY from ₹ 446,110 crore for Q2FY25. Average Current Deposits grew to ₹ 70,220 crore for Q2FY26, up 14% YoY from ₹ 61,853 crore for Q2FY25. Average Fixed rate Savings Deposits grew to ₹ 113,894 crore for Q2FY26, up 8% YoY from ₹ 105,584 crore for Q2FY25.

Average Term Deposits grew to ₹ 311,889 crore for Q2FY26, up 20% YoY from ₹ 259,434 crore for Q2FY25.

CASA ratio as at September 30, 2025 stood at 42.3%. Activ Money grew 10% YoY to ₹ 57,768 crore.

Credit to Deposit ratio as at September 30, 2025 stood at 87.5%.

Customers as on September 30, 2025 were 5.2 crore.

Net Interest Income (NII) for Q2FY26 increased to ₹ 7,311 crore, up 4% YoY from ₹ 7,020 crore in Q2FY25.

Net Interest Margin (NIM) was 4.54% for Q2FY26. Cost of funds was 4.70% for Q2FY26.

Fees and services for Q2FY26 increased to ₹ 2,415 crore, up 4% YoY from ₹ 2,312 crore in Q2FY25.

Operating expenses for Q2FY26 increased to ₹ 4,632 crore, up 1% YoY from ₹ 4,605 crore in Q2FY25. 

Operating profit for Q2FY26 increased to ₹ 5,268 crore, up 3% YoY from ₹ 5,099 crore in Q2FY25. 

Credit cost (annualised) for Q2FY26 stood at 0.79% (0.93% for Q1FY26).

The Bank’s PAT for Q2FY26 stood at ₹ 3,253 crore (₹ 3,344 crore in Q2FY25). 

As at September 30, 2025, GNPA was 1.39% & NNPA was 0.32% (GNPA was 1.49% & NNPA was 0.43% at September 30, 2024). As at September 30, 2025, Provision Coverage Ratio stood at 77%.

Standalone Return on Assets (ROA) for Q2FY26 (annualized) was 1.88%.  Return on Equity (ROE) for Q2FY26 (annualized) was 10.38%. 

Capital Adequacy Ratio of the Bank, as per Basel III, as at September 30, 2025 was 22.1% and CET1 ratio of 20.9% (including unaudited profits).

The financial statements of Indian subsidiaries (excluding insurance companies) and associates are prepared as per Indian Accounting Standards in accordance with the Companies (Indian Accounting Standards) Rules, 2015. The financial statements of subsidiaries located outside India are prepared in accordance with accounting principles generally accepted in their respective countries. However, for the purpose of preparation of the consolidated financial results, the results of subsidiaries and associates are in accordance with Generally Accepted Accounting Principles in India (‘GAAP’) specified under Section 133 and relevant provision of Companies

Act, 2013.
About Kotak Mahindra Group

Established in 1985, Kotak Mahindra Group is one of India's leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group's flagship company, received banking license from the Reserve Bank of India (RBI), becoming the first non-banking finance company in India to convert into a bank - Kotak Mahindra Bank Ltd (KMBL).

Kotak Mahindra Group (Group) offers a wide range of financial services that encompass every sphere of life. From commercial banking, to stock broking, mutual funds, life and general insurance and investment banking, the Group caters to the diverse financial needs of individuals and the corporate sector. The premise of Kotak Mahindra Group’s business model is concentrated India, diversified financial services. The bold vision that underscores the Group’s growth is an inclusive one, with a host of products and services designed to address the needs of the unbanked and insufficiently banked. 

Kotak Mahindra Group has a global presence through its subsidiaries in UK, USA, Gulf Region, Singapore and Mauritius with offices in London, New York, Dubai, Abu Dhabi, Singapore and Mauritius respectively. As on 30th September 2025, Kotak Mahindra Bank Ltd has a national footprint of 2,198 branches and 2,758 ATMs (incl. cash recyclers), and branches in GIFT City and DIFC (Dubai). 

For more information, please visit the Company’s website at https://www.kotak.com

SBI Cards And Payment Services Limited Report Robust Financial Results For Quarter Ended September 30, 2025

Total Revenue at ₹ 5,136 Cr Up 13% YoY; PAT at ₹ 445 Cr Up 10% YoY

      The Board of Directors of SBI Cards and Payment Services Limited approved the Company’s results for the Quarter ended September 30, 2025

Performance Highlights Q2 FY26

• Total Revenue increased by 13% YoY at ₹ 5,136 Cr in Q2 FY26 v/s ₹ 4,556 Cr in Q2 FY25

• PAT at ₹ 445 Cr in Q2 FY26 v/s ₹ 404 Cr in Q2 FY25

• ROAA at 2.6% in Q2 FY26 v/s 2.7% in Q2 FY25

• ROAE at 12.1% in Q2 FY26 v/s 12.5% in Q2 FY25

• Capital Adequacy Ratio at 22.5%; Tier 1 at 17.5%

Business Highlights

• Cards-in-force grew by 10% YoY at 2.15 Cr as of Q2 FY26 v/s 1.96 Cr as of Q2 FY25

• New accounts volume at 936K in Q2 FY26 v/s 904K new accounts in Q2 FY25

• Spends grew by 31% YoY at ₹ 107,063 Cr in Q2 FY26 v/s ₹ 81,893 Cr in Q2 FY25

• Receivables grew by 8% YoY at ₹ 59,845 Cr in Q2 FY26 v/s ₹ 55,601 Cr in Q2 FY25

• Market share for *Q2 FY26 Card-in-force is at 19.0% (Q2 FY25: 18.5%), Spends is at 17.0% (Q2 FY25: 15.7%), #2 for Cards-in-force and #3 for spends, in industry. (Note-* As per RBI data available till Aug’25).

 Profit & Loss Account for the Quarter ended September 30, 2025

• Total income increased by 13% at ₹ 5,136 Cr in Q2 FY26 v/s ₹ 4,556 Cr in Q2 FY25. This movement was a result of the following key factors:

• Interest income increased by 9% at ₹ 2,490 Cr in Q2 FY26 v/s ₹ 2,290 Cr in Q2 FY25

• Fees and commission income increased by 16% at ₹ 2,471 Cr in Q2 FY26 v/s ₹ 2,131 Cr in Q2 FY25

• Finance costs declined by 4% at ₹ 760 Cr in Q2 FY26 v/s ₹ 788 Cr in Q2 FY25 due to Lower cost of borrowings.

• Total Operating cost increased by 24% at ₹ 2,484 Cr in Q2 FY26 from ₹ 2,011 Cr in Q2 FY25

• Earnings before credit costs increased by 8% at ₹ 1,892 Cr in Q2 FY26 v/s ₹ 1,757 Cr in Q2 FY25

• Impairment losses & bad debts expenses increased by 7% at ₹ 1,293 Cr in Q2 FY26 v/s ₹ 1,212 Cr in Q2 FY25

• Profit after tax increased by 10% at ₹ 445 Cr in Q2 FY26 v/s ₹ 404 Cr in Q2 FY25

Balance Sheet as of September 30, 2025

• Total Balance Sheet size as of September 30, 2025, was ₹ 69,862 Cr as against ₹ 65,546 Cr as of March 31, 2025

• Total Advances (Net of provisions) as of September 30, 2025, were ₹ 57,856 Cr, as against ₹ 53,935 Cr as of March 31, 2025

• Net worth as of September 30, 2025, was ₹ 14,861 Cr as against ₹ 13,853 Cr as of March 31, 2025

Asset Quality

The Gross non-performing assets were at 2.85% of gross advances as of September 30, 2025, as against 3.27% as of September 30, 2024. Net non-performing assets were at 1.29% as of September 30, 2025, as against 1.19% as of September 30, 2024.

Capital Adequacy

As per the capital adequacy norms issued by the RBI, Company’s capital to risk ratio consisting of Tier I and Tier II capital should not be less than 15% of its aggregate risk weighted assets on - balance sheet and of risk adjusted value of off-balance sheet items. As of September 30, 2025, Company’s CRAR was 22.5% compared to 22.1% as of September 30, 2024.

The Tier I capital in respect of an NBFC-ND-SI, at any point of time, can’t be less than 10%. Company’s Tier I capital was 17.5% as of September 30, 2025, compared to 16.3% as of September 30, 2024.

Rating 

CRISIL Long Term - AAA/Stable

CRISIL Short Term - A1+

ICRA Long Term - AAA/Stable

ICRA Short Term - A1+

 Summary Profit and Loss Statement (₹ Cr)

 

Description	Q2 FY25	Q1 FY26	Q2 FY26	QoQ	YoY
Interest Income	2,290	2,493	2,490	0%	9%
Non-Interest Income (Fees, commission income & others)	2,131	2,384	2,471	4%	16%
Total Revenue from operations	4,421	4,877	4,961	2%	12%
Total Other Income	135	158	175	11%	30%
Total Income	4,556	5,035	5,136	2%	13%
Finance costs	788	813	760	-6%	-4%
Operating Costs	2,011	2,123	2,484	17%	24%
Earnings before credit costs	1,757	2,100	1,892	-10%	8%
Impairment losses & bad debts	1,212	1,352	1,293	-4%	7%
Profit before tax	545	748	600	-20%	10%
Profit after tax	404	556	445	-20%	10%

 

Summary Balance Sheet (₹ Cr)

 

Description	Mar'25	Sep'25
Assets
Loans (Net of provisions)	53,935	57,856
Cash & Bank Balances	2,738	3,333
Investments	6,235	5,906
Other Financial Assets & Trade Receivables	514	656
Total non-financial Assets	2,124	2,111
Total Assets	65,546	69,862
Liabilities and Equity
Total Equity	13,782	14,789
Borrowings, Subordinated Liabilities & Debt Securities	44,947	49,225
Other financial liabilities	4,974	4,028
Total non-financial liabilities	1,844	1,820
Total liabilities and equity	65,546	69,862