Bank of India(BOI) Q2 profit jumps 25%

For the September quarter, Bank of India's net profit increased by 25.3% year over year to ₹3,202 crore from ₹2,555 crore during the same period last year. The public sector lender's net interest income (NII) increased significantly, and its overall performance was bolstered by gains in asset quality and operational effectiveness. 

From ₹5,914 crore to ₹7,007 crore a year ago, net interest income increased by 18.5%. Operating profit increased more quickly, rising 33.2% year over year from ₹3,821 crore to ₹5,089 crore.

The bank reported an improvement in asset quality during the quarter, with both gross and net non-performing asset (NPA) ratios declining sequentially.

Gross NPA stood at 1.6% in September 2026, compared with 1.81% in the June quarter. Net NPA declined to 0.42% from 0.51% over the same period.

The provision coverage ratio (PCR), which indicates the extent to which a bank has set aside provisions against its bad loans, rose to 94.45% in September 2026 from 93.39% a year earlier. The slippage ratio stood at 0.15%, while credit cost was 0.12%.

Bank of India’s global business grew 21.13% year on year to ₹18.93 lakh crore as of September 2026, reflecting growth in both deposits and advances.

Global deposits increased 21.59% to ₹10.38 lakh crore, while global advances rose 20.58% to ₹8.55 lakh crore. Retail, agriculture and micro, small and medium enterprise (MSME) lending also recorded double-digit growth.

Retail credit rose 19.27% year on year to ₹1.74 lakh crore, while MSME advances increased 20.27% to ₹1.18 lakh crore. Agriculture credit grew 16.34% to ₹1.21 lakh crore.

Retail, agriculture and MSME lending together form a key part of the bank’s RAM (retail, agriculture and MSME) portfolio. RAM advances grew 18.68% year on year and accounted for 58.63% of total advances.

The bank’s cost-to-income ratio improved by 507 basis points year on year to 47.95%, indicating greater operating efficiency. Return on assets rose 10 basis points to 1.01%, while return on equity increased 142 basis points to 16.36%.

Global net interest margin improved by six basis points year on year to 2.47%.

Bank of India’s capital adequacy ratio (CRAR) increased 109 basis points year on year to 17.78%, with its Common Equity Tier 1 (CET-1) ratio at 15.49%.

Bank of India also reported that priority sector advances grew 12.03% year on year, accounting for 46.24% of adjusted net bank credit (ANBC) as of September 2026. Advances to small and marginal farmers stood at 13.84% of ANBC, above the regulatory norm of 10%, while lending to weaker sections accounted for 17.51%, against the prescribed norm of 12%.

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Government intends to lower its ownership of four Public Sector Banks

In order to comply with the minimum public shareholding requirements established by the stock market regulator, the Central Government is thinking of lowering its ownership of four public sector banks (PSBs) to 75%. The Central Bank of India, UCO Bank, Punjab & Sind Bank, and Indian Overseas Bank are the four banks. According to people familiar with the situation, the government is also drafting a plan for the upcoming round of public sector bank consolidation, which may identify two more banks for privatization. 

In addition to IDBI Bank, the government announced plans to privatize two public sector banks and one general insurance company in the Union Budget for 2021–2022. The government announced earlier this month that Fairfax Financial Holdings, led by Canadian billionaire Prem Watsa, would pay Rs 52,878 crore to purchase a 60.72% share in IDBI Bank. The government wants the nation to have three or four sizable public sector banks in the long run.

Central Bank of India and Indian Overseas Bank May Be Considered for Privatisation

NITI Aayog had reportedly shortlisted Central Bank of India and Indian Overseas Bank as possible candidates for privatisation. However, the government is also examining the future structure of public sector banks as part of its broader consolidation plan.

Government to Reduce Stake in Four Banks

According to a government official, the first step is to increase public shareholding in the four banks over the next year. The banks may raise funds from the market based on their own plans, while the government may sell part of its stake through an Offer for Sale (OFS). The timing and size of the government’s stake sale will depend on market conditions.

The government aims to build three to four large public sector banks. Suggestions for consolidation may come from the banks themselves after considering factors such as technology compatibility, geographical presence and the mix of their businesses. These factors will also be considered when evaluating privatisation proposals.

The government may need to amend existing laws to carry out the privatisation of public sector banks. These changes could include amendments to the Banking Companies (Acquisition and Transfer of Undertakings) Act. The government may take up these legal changes alongside the bank consolidation process.

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BOIOO urged management to address this issue of mandatory Rural Posting for Promotion

 A rural posting is now required by Bank of India in order to advance to Scale III. A number of Scale II officers are unable to apply for promotion to Scale III as a result of these new regulations. Officers have asked bank management to investigate this and change the regulations to make them more applicable. The Bank of India officers' associations have also called on management to deal with this problem.

The BOI Officers' Association questioned management about who is at fault if officers have not completed a rural posting, arguing that workers shouldn't be forced to shoulder the burden if the bank failed to post them to rural areas.

large number of Scale II officers are facing exclusion from the upcoming Scale III promotion process solely because they have not completed mandatory rural service.

The officers argue that the shortfall is not their fault, as they are liable to be posted anywhere at the Bank’s discretion (Regulation 47), and many who requested rural postings in writing were denied by zones due to administrative exigencies.

Under Para 11 of the Transfer & Rotation Policy (Branch Circular dated 04.01.2025), the Bank itself had the mandatory duty (“invariably be posted”) to place officers in rural/semi-urban areas, which Zonal administrations failed to execute.

The association has asked management to ensure strict compliance with Para 11 moving forward, give annual written notice of rural exposure status to officers, and grant an early meeting with leadership before the promotion notification is issued.

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This Bank Wins EASERise 8.0 Data Quality Recognition Award for FY 2025–26

The Indian Banks’ Association (IBA) has announced the EASERise 8.0 Award winners for FY 2025–26. State Bank of India (SBI) secured the overall winner position, followed by Punjab National Bank (PNB) and Canara Bank.

Bank of India (BOI) has achieved a notable recognition by securing the Winner position in the Overall EASE Data Quality Recognition Awards. The award acknowledges the quality of data submitted by public sector banks for EASE assessments, including accuracy, correctness, minimal revisions and timely submission.

Additionally, SBI emerged as the winner in the Innovation and Risk and Resilience themes, while Bank of India secured the First Runner-up position in the Innovation category.

This achievement reflects Bank of India’s commitment to data quality, operational excellence and innovation in banking.

1. Overall Winners

Award Position	Bank Name
Winner	State Bank of India (SBI)
First Runner-up	Punjab National Bank (PNB)
Second Runner-up	Canara Bank

2. Theme-wise Winners

S. No.	Theme	Winner	First Runner-up	Second Runner-up
1	Risk and Resilience	State Bank of India (SBI)	Punjab National Bank (PNB)	Indian Bank
2	Innovation	State Bank of India (SBI)	Bank of India (BOI)	Canara Bank
3	Socio-economic Impact (for Viksit Bharat)	Bank of Baroda (BoB)	Union Bank of India	Canara Bank
4	Excellence	Punjab National Bank (PNB)	Indian Bank	State Bank of India (SBI)

3. Top Improvers

Award Position	Bank Name
1st	Indian Overseas Bank (IOB)
2nd	Punjab & Sind Bank
3rd	UCO Bank

4. Overall EASE Data Quality Recognition Awards

These awards recognise public sector banks for the quality of data submitted for EASE assessments, based on data correctness, accuracy, minimal revisions and timely submissions.

Award Position	Bank Name
Winner	Bank of India (BOI)
First Runner-up	Bank of Maharashtra
Second Runner-up	Central Bank of India

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ICICI Bank Q2 Net profit rises 20%

ICICI Bank exceeded market estimates on Saturday by reporting a 20.1 percent year-over-year increase in standalone net profit to Rs 14,843 crore for the second quarter of FY27. While asset quality improved, the private sector lender reported significant increases in advances and net interest income (NII).

The net profit was 3.9 percent more than the CNBC TV18 poll prediction of Rs 14,280 crore. ICICI Bank's net interest income surpassed the poll forecast of Rs 24,811 crore by 2.1 percent, rising 17.7 percent year over year to Rs 25,339 crore from Rs 21,529 crore.

The bank's net interest margin (NIM) stood at 4.18 percent in the July-September quarter, compared with 4.36 percent in the preceding quarter and 4.30 percent in the year-ago period.

Core operating profit increased 21.8 percent year-on-year to Rs 20,805 crore from Rs 17,078 crore. Fee income rose 20.1 percent to Rs 7,795 crore, with fees from retail, rural and business banking customers accounting for approximately 75 percent of the total. Operating expenses increased 8.5 percent year-on-year to Rs 12,811 crore.

ICICI Bank reported provisions, excluding tax provisions, of Rs 851 crore for the September quarter, compared with Rs 914 crore a year earlier, representing a decline of approximately 6.9 percent.

The bank continued to maintain contingency provisions of Rs 13,100 crore, alongside an additional standard asset provision of Rs 1,283 crore made in the third quarter of FY26 under RBI directions relating to its agricultural priority sector portfolio.

The net NPA ratio improved to 0.30 percent from 0.35 percent sequentially and 0.39 percent a year earlier. Gross NPA additions stood at Rs 4,833 crore, compared with Rs 5,034 crore in the corresponding quarter last year.

The bank's total advances increased 30 percent year-on-year and 12.3 percent sequentially to Rs 18.32 lakh crore as of September 30. Excluding loans extended by international branches against foreign currency non-resident (FCNR-B) deposits, total loan growth was 24.1 percent year-on-year and 7.3 percent sequentially.

The retail and rural loan portfolio grew 14.8 percent year-on-year, while the business banking portfolio expanded 33.8 percent. The domestic corporate portfolio registered growth of 30.6 percent.

Total period-end deposits increased 27.1 percent year-on-year to Rs 20.50 lakh crore. Excluding FCNR-B deposits, deposit growth stood at 17 percent. Average deposits rose 21.2 percent to Rs 18.88 lakh crore. The average current account and savings account (CASA) ratio stood at 35.8 percent, reflecting the increase in the term deposit base due to FCNR-B deposit inflows.

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Punjab & Sind Bank Q2 Profit Jumps 39.88%

On Saturday, October 17, the Central Bank of India said that its standalone net profit for the September quarter of the fiscal year 2026–2027 had increased by 21% year over year to ₹1,469 crore, thanks to an increase in net interest income (NII). The bank's core income, or NII, rose 26.3% year over year to ₹4,145 crore in the second quarter from ₹3,283 crore in the same time the previous year.

Gross non-performing assets (NPAs) decreased from 2.60% in the June quarter to 2.39% as of September 30, 2026, indicating a sequential improvement in the bank's asset quality. Net non-performing assets (NPAs) decreased from 0.49% in the prior quarter to 0.31%.

Rs 3,746.52 Cr, up 11.06% YoY growth from Rs 3,373.28 Cr in the comparable quarter. Rs 411.97 Cr, higher by 39.88% year on year, showing stronger profit conversion in the quarter. The disclosed operating/profit line improved alongside revenue, which supported the net profit outcome.

Punjab & Sind Bank Q2 Results FY27: The quarter offers a clean read on the earnings trend, with both top line and net profit moving higher.

Punjab & Sind Bank Q2 Results FY27 show a year-on-year improvement in both revenue and net profit. Revenue rose to Rs 3,746.52 Cr, while net profit climbed to Rs 411.97 Cr. The results analysis indicates that profit growth was materially faster than revenue growth in this quarterly results update.

The bank’s revenue increased 11.06% YoY growth, and net profit increased 39.88% YoY growth. 

Net profit margin improved to 11.0% from 8.7% in the comparison quarter. Net profit rose 39.9% year on year to Rs 411.97 Cr.

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Punjab National Bank(PNB) Q2 Net profit rises 13%

Punjab National Bank (PNB) on Friday reported a 13 per cent increase in net profit to Rs 5,532 crore for the second quarter ended September 2026.

 

The country's second-largest public sector lender had logged a profit of Rs 4,904 crore in the year-ago period.

 

The bank's total income increased to Rs 38,185 crore in the second quarter from Rs 36,214 crore a year ago, PNB said in a regulatory filing.

 

Interest income rose to Rs 34,585 crore in the September quarter of FY27 from Rs 31,872 crore in the year-ago period.

 

The operating profit also rose to Rs 7,532 crore against Rs 7,227 crore in the same quarter a year ago.

 

On the asset quality front, its gross non-performing assets (NPAs) moderated to 2.55 per cent of gross advances at the end of September 2026 compared to 3.45 per cent a year ago.

 

Similarly, net NPAs or bad loans came down to 0.25 per cent at the end of September 2026 against 0.36 per cent at the end of September 2025.

 

Provisions and contingencies came down to Rs 97 crore from Rs 643 crore in the second quarter of the previous financial year.

 

The Provision Coverage Ratio (PCR) climbed to 97.32 per cent as on September 30, 2026, against 96.91 per cent at the end of the second quarter of the last financial year.

 

Capital to Risk-Weighted Assets Ratio (CRAR) also witnessed a rise to 17.95 per cent from 17.19 per cent at the end of September 2025.

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UCO Bank Q2 net profit rises 27%

Public sector UCO Bank on Thursday reported a 27 per cent rise in net profit to ₹786 crore for the second quarter ended September 30.The Kolkata-based lender earned a net profit of ₹620 crore in the same period last fiscal year.

Total income increased to ₹8,170 crore in the second quarter from ₹7,421 crore a year ago, UCO Bank said in a regulatory filing.Interest income improved to ₹7,286 crore in the September quarter of FY27 from ₹6,537 crore in the year-ago period.

Operating profit also increased to ₹1,872 crore against ₹1,613 crore in the same quarter a year ago.

On the asset quality front, the bank's gross non-performing assets (NPAs) moderated to 1.96 per cent of gross advances at the end of September 2026 compared to 2.56 per cent a year ago.Net NPAs or bad loans came down to 0.18 per cent at the end of September 2026 compared to 0.43 per cent at the end of September 2025.

However, provisioning against bad loans rose marginally to ₹444 crore during the quarter against ₹405 crore in the July-September period of the last fiscal year.

The Provision Coverage Ratio (PCR) improved to 98.36 per cent as of September 30, 2026 against 96.99 per cent at the end of the second quarter of the last financial year.

The Capital to Risk-Weighted Assets Ratio (CRAR) rose to 18.85 per cent from 17.89 per cent at the end of the second quarter of the previous financial year.

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Canara Bank Q2 Standalone net profit rises 8% YoY

 Canara Bank on Wednesday reported a standalone net profit of Rs 5,175 crore for the second quarter of FY27, up more than 8% from Rs 4,774 crore in the corresponding quarter of the previous financial year. The earnings announcement lifted the bank’s shares nearly 5%.

The lender’s net interest income (NII), or the difference between interest earned and interest expended, jumped more than 20% YoY to Rs 11,005 crore during Q2 of the ongoing financial year 2027, from Rs 9,141 crore reported in the same period of FY26. The shares of the company jumped to Rs 126.44 apiece on NSE.

Operating profit margin however reduced to 21.40% in the second quarter of FY27 from 22.25% in the year-ago period. Net profit margin however increased slightly to 12.64%, from 12.37% in the same period last year. The bank’s overall net worth rose nearly 17% YoY to Rs 1.13 lakh crore in the quarter which ended on September 30, 2026.

Canara Bank’s asset quality also improved, with net non performing assets (NNPA) reducing around 34% YoY to Rs 4,053 crore, while gross performing assets (GNPA) fell over 32% YoY to Rs 18,299 crore during the quarter under review. As a result, gross NPA ratio declined to 1.33% in Q2 FY27, from 2.35% in the corresponding quarter of the previous financial year.

The lender’s annualised return on assets (RoA) stood at 1.05% in Q2 FY27, as against 1.10% in the same period last year. Its debt-equity ratio meanwhile stood at 0.52%, as against 0.55%.

Canara Bank’s provisions decreased over 6% YoY to Rs 3,583 crore, while quarterly net interest margin (NIM) stood at 2.55%, compared to 2.5% in the year-ago period. Its cost of funds (CoF) decreased to 4.88% in Q2 FY27, from 5.21% in Q2 FY26, while yield on advances ratio fell to 8.03% from 8.4%. Cost of deposits ratio meanwhile dropped to 5.27%. Slippage ratio eased to 0.15% from 0.19%.

Its overall business performance is on track to meet its FY27 guidance, except CASA ratio that stood at 29%, slightly lower than its 30-32% guidance.

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Government sells its stake in IDBI Bank to Canadian Company

The strategic reorganization and ₹52,878 crore stake sale of IDBI Bank to Prem Watsa's Fairfax Financial Holdings was approved by the Union Cabinet on October 14, 2026.

This is the biggest government disinvestment agreement since Air India and the largest foreign direct investment (FDI) in India's financial sector.

The winning bid price of ₹81 per share is being used to complete the transaction. The approved framework calls for Fairfax's subsidiary, M/s 10955230 Canada Inc., to purchase a 60.72% controlling stake in the lender, which will be split nearly equally between the two current major owners:

India's government Sale: Giving up a 30.48% share.

Corporation for Life Insurance (LIC) Sale: Giving up a 30.24% share.

Finance Minister Nirmala Sitharaman categorized the deal as a “strategic restructuring” rather than a complete exit, as the state will maintain a significant footprint:

The Government will retain a 15% stake.

LIC will retain a 19% stake.

Together, they will keep a combined 34% minority holding in the bank.

While the Cabinet Committee on Economic Affairs (CCEA) has cleared the transaction, the deal still awaits a final mandatory “fit and proper ownership” assessment by the Reserve Bank of India (RBI), alongside necessary clearances from the Competition Commission of India (CCI). The formal share purchase agreement is scheduled to be signed and executed before the end of December 2026.

IDBI Bank will officially become a foreign-owned bank following the conclusion of this deal. The winning bidder, Fairfax Financial Holdings, is a massive financial conglomerate headquartered in Toronto, Canada, and led by the Indian-born Canadian billionaire Prem Watsa.

Because Fairfax’s Canadian subsidiary is acquiring a 60.72% controlling stake, IDBI Bank will transition from being a domestic Indian lender into a foreign-controlled institution.

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