KMB Leads Bank Stocks With 4% Gain, Axis Bank And IndusInd Bank Also Rise While IDFC First Bank Falls 3%; Here’s What Q2 Updates Show

Shares of major private sector banks moved sharply after their September quarter business updates, with Kotak Mahindra Bank emerging as the biggest gainer. The stock rose 4.42 per cent to an intraday high of Rs 434.40 on the NSE.

Axis Bank and IndusInd Bank also gained 1.28 per cent and 1 per cent, respectively. In contrast, IDFC First Bank shares fell 2.39 per cent to Rs 79.81.

Kotak Mahindra Bank Q2 Business Update

Kotak Mahindra Bank reported strong growth in both advances and deposits during the quarter. Net advances increased 24.7 per cent year-on-year and 12.7 per cent quarter-on-quarter to Rs 5.77 lakh crore. This was significantly higher than the 19.4 per cent YoY and 7.9 per cent QoQ growth estimated by MOFSL.

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Deposits rose 23.2 per cent YoY and 13.7 per cent QoQ to Rs 6.51 lakh crore, also exceeding MOFSL’s estimates of 17.5 per cent YoY and 8.4 per cent QoQ growth.

However, the CASA ratio declined to 38.2 per cent from 40.3 per cent in the first quarter of FY27. The bank’s FCNR(B) deposits stood at $5.78 billion, while leverage against these deposits was $1.68 billion. Excluding these figures, loan growth stood at 21.2 per cent YoY and 9.5 per cent QoQ, while deposit growth was 12.7 per cent YoY and 4.1 per cent QoQ.

Axis Bank Q2 Business Update

Axis Bank recorded 22.7 per cent YoY and 8.8 per cent QoQ growth in gross advances, taking them to Rs 13.85 lakh crore.