BSE Bankex Banking Sector Regulatory Filings — October 23, 2026

Q2 FY27 PAT up 20.1% YoY to ₹14,843 crore and NII up 17.7% YoY to ₹25,339 crore, with net NPA improving to 0.30% from 0.35% QoQ and 0.39% YoY

Standalone PBT of ₹1,56,180 lakh versus a ₹59,438 lakh loss in Q2 FY26, and Net NPA down to 0.83% from 1.04% YoY, marking a clear turnaround in profitability and asset quality

Advances up 14.7% YoY (17.4% ex-IBPC reduction), domestic NIM up 10 bps QoQ to 2.74%, and CD ratio cut to 75.5% with bulk deposits plus CDs falling to about 17% of deposits, improving funding quality

NIM fell to 4.18% from 4.36% in Q1 (4.28% ex one-time tax refund interest), and deposit growth ex-FCNR(B) moderated to about 17% from 27.1% headline, signalling mix pressure

NIM compressed to 3.23% from 3.32% YoY and 3.57% QoQ, yield on assets fell to 8.35% from 8.75%, and savings deposits fell 5% YoY to ₹83,024 crore, indicating funding-cost and CASA pressure

CET1 slipped to 15.55% from 15.88% and CRAR to 16.59% from 17.10%, while RWA grew to ₹4,25,746 crore from ₹3,98,256 crore, implying capital consumption ahead of growth

Q2 treasury income of ₹753 crore versus ₹1,700 crore a year earlier, and a ₹798 crore single-account write-back netting ₹817 crore of provisioning to ₹97 crore, so reported profit quality is weaker than headline

Full redemption of the ₹1,500 crore Basel III AT1 bonds (ISIN INE476A08126) on call option, with ₹1,626 crore paid on time and outstanding reduced to nil

Corporate slippage disclosed in road/infrastructure sector, agriculture slippages rising QoQ in Maharashtra and Andhra Pradesh, and recoveries running below target, while headline net NPA of 0.25% is supported by a ₹798 crore write-back

Treasury income fell to ₹753 crore from ₹1,700 crore YoY on G-Sec yield hardening with a 1-2% Q2 treasury hit, exposing earnings to rate-driven MTM volatility

NIM compressed 9 bps YoY (3.32% to 3.23%) and 34 bps QoQ (3.57% to 3.23%), attributed to FCNR(B) mobilization costs, with NII down 2% QoQ to ₹4,569 crore

Gross NPA additions rose to ₹4,833 crore in the quarter despite improved net NPA ratio, indicating fresh slippage pressure that may not yet be fully reflected in ratios

Average current and savings deposits grew only 10.7% YoY versus overall deposit growth of 27.1%, and credit card portfolio shrank 9.7% YoY, the only major retail segment in decline

CRAR down 51 bps YoY to 16.59%, CET1 down 33 bps to 15.55%, average LCR down 5 percentage points to 127% from 132%, and provision coverage ratio slipped to 70.19% from 71.81%

Retail deposit share fell to 49.0% from 49.5% QoQ and savings deposits declined 5% YoY and QoQ, reducing the low-cost funding base at a time of rising FCNR(B) reliance

GOI nominee director replaced with immediate effect via central government notification, a change of control-adjacent nature that warrants monitoring of board dynamics rather than an operational concern

Sustained double-digit NII and PAT growth with improving net NPA of 0.30% offers a quality-growth compounder profile, with the main upside lever being CASA mix normalisation as FCNR(B) costs ease

Swing from loss to ₹1,242 crore consolidated profit and Gross NPA of 2.73% (vs 3.60% a year ago) suggest the recovery thesis is playing out; a further NIM stabilisation from 3.23% would be the key re-rating catalyst

Cutting the CD book from about ₹60,000 crore to ₹40,000 crore and lowering bulk deposits plus CDs from about 19% to 17% of deposits implies a more stable, lower-cost funding base that should support NIM expansion from 2.74% domestic

Advances up 17.4% excluding the IBPC reduction indicates underlying lending momentum that could sustain earnings growth if slippage is contained

Clean call-option redemption of the ₹1,500 crore AT1 issue on schedule removes an outstanding instrument and reflects capital-management discipline, with record-date revision handled transparently

Investor deck shows average total deposits up 7% QoQ and loans up 9% QoQ, indicating accelerating business momentum that could translate into improved NII once margin headwinds from FCNR(B) fade

Net NPA ratio declining for consecutive periods (0.39% to 0.35% to 0.30%) combined with a shrinking credit-card book suggests tightened underwriting, a positive for through-cycle risk profile

IndusInd NIM fell 34 bps QoQ and ICICI NIM fell 18 bps QoQ, both citing FCNR(B) deposit mobilisation costs, indicating a sector-wide funding-mix pressure that offsets lower cost of funds (IndusInd cost of funds fell to 5.11% from 5.43%) [implication: NIM recovery depends on FCNR(B) repricing and CASA retention]

IndusInd savings deposits down 5% YoY, ICICI CASA growth 10.7% against 27.1% total deposits, and IndusInd retail deposit share down to 49.0% from 49.5%, pointing to a structural shift toward wholesale and FCNR(B) funding across the sector [implication: deposit franchise strength is becoming the key differentiator]

Gross/Net NPA declined YoY at IndusInd (3.60% to 2.73%, 1.04% to 0.83%) and ICICI (net 0.39% to 0.30%) and PNB (net 0.25%), yet ICICI gross NPA additions rose to ₹4,833 crore and PNB disclosed fresh corporate and agri slippages, suggesting ratio improvement is partly write-off and recovery driven [implication: monitor slippage ratios, not only stock ratios]

PNB treasury income fell to ₹753 crore from ₹1,700 crore YoY on G-Sec yield hardening, a headwind that likely affects other PSU and private banks with large G-Sec books [implication: Q2 earnings quality is sensitive to MTM; underlying core profit growth is the more reliable signal]

IndusInd CRAR down 51 bps YoY with RWA up about 7% QoQ-equivalent, and CET1 down 33 bps, indicating growth is consuming capital faster than internal accrual in some institutions [implication: capital raising or retained earnings discipline will become a valuation consideration]

IndusInd appointed a new independent director and expanded its senior management list by 14 names, while Bank of Baroda replaced its government nominee director, reflecting ongoing board and management refresh across the index [implication: low direct financial impact but relevant to strategy continuity]

Management flagged road/infrastructure corporate slippage and recoveries below target; watch Q3 FY27 slippage ratio and whether the ₹798 crore write-back is repeatable, next results expected around the Q3 FY27 window

NIM at 3.23% after a 34 bps QoQ drop; watch the Q3 FY27 print and management commentary on FCNR(B) repricing and CASA recovery, which will determine whether the margin trough has passed

Gross NPA additions of ₹4,833 crore and CASA growth of 10.7% vs 27.1% deposits; watch whether credit-card contraction and mix pressure persist in the next quarter's disclosure

CRAR at 16.59% and CET1 at 15.55% with RWA growth outpacing capital; watch for any capital-raising announcement or dividend/AT1 decisions in upcoming filings

14 SMP additions effective 23 October 2026 with multiple April and August 2026 joiners, including several new roles in marketing, CSR and risk; watch for further leadership changes that could affect execution

Immediate GOI nominee replacement under the 1970 Act; monitor for any further government-driven board or strategic changes and the effect on capital-allocation priorities

Q2 FY27 transcript filed 23 October 2026 contains forward-looking commentary on slippage and treasury; cross-check management guidance against next quarter's actuals for credibility

Call held 23 October 2026 with audio published on the investor page; the substantive guidance on margin outlook and deposit strategy sits in that recording, which should be reviewed before taking positions