Bank of Maharashtra Q3 FY26 Results Show Net Profit Up 26.5% and 10% Interim Dividend

Bank of Maharashtra reported a strong set of Q3FY26 numbers for the quarter ended 31 December 2025. Net profit rose 26.51% year-on-year to Rs 1,779 crore, compared with Rs 1,406 crore in Q3FY25. The performance reflected higher interest income, better operating efficiency and stronger returns on both equity and assets.

Alongside earnings, Bank of Maharashtra also announced an interim dividend for shareholders for FY26. The Board approved a 10% payout, equal to Rs 1.00 per equity share with a face value of Rs 10. The bank fixed 20 January 2026 as the record date for identifying eligible equity investors.

For Q3FY26, Net Interest Income increased 16.27% year-on-year to Rs 3,422 crore, up from Rs 2,943 crore in Q3FY25. Net revenues, which combine Net Interest Income and other income, rose 16.73% to Rs 4,355 crore, compared with Rs 3,731 crore a year earlier. The cost-to-income ratio improved to 37.19%, from 38.27% in Q3FY25, reflecting tighter cost management.

Key metric	Q3FY26	Q3FY25	Q2FY26 / Other
Net profit (Rs crore)	1,779	1,406	-
Net Interest Income (Rs crore)	3,422	2,943	-
Net revenues (Rs crore)	4,355	3,731	-
Cost-to-income ratio (%)	37.19	38.27	-
ROE (%)	23.79	22.36	-
ROA (%)	1.86	1.78	1.82 (Q2FY26)
GNPA (%)	1.60	1.80	1.72 (30 Sep 2025)
NNPA (%)	0.15	0.20	0.18 (30 Sep 2025)
Basel III CRAR (%)	17.06	-	-
CET1 ratio (%)	13.10	-	-

The balance sheet showed broad-based expansion as of 31 December 2025. Total business grew 17.24% year-on-year to Rs 5,95,163 crore, driven by both deposits and advances. Total deposits increased 15.29% to Rs 3,21,661 crore, indicating stable customer confidence and a strong funding base that supports credit growth across segments.

Global advances climbed 19.62% year-on-year to Rs 2,73,502 crore, helped by strong traction in retail and MSME lending. The RAM book, which includes Retail, Agriculture and MSME, expanded 20.26% over the year. Within this, retail advances rose 36.40% year-on-year, highlighting the bank’s sharper focus on granular, higher quality retail lending relationships.

Bank of Maharashtra Q3 results: capital and asset quality

Capital levels stayed above regulatory needs, giving the bank additional comfort. Under Basel III norms, the Capital Adequacy Ratio stood at 17.06% as on 31 December 2025. The Common Equity Tier 1 ratio was 13.10%, indicating a healthy core equity cushion to absorb future stress and support growth plans.

Asset quality indicators continued to strengthen over the period. The Gross NPA ratio declined to 1.60% as at 31 December 2025, compared with 1.80% a year earlier and 1.72% on 30 September 2025. Net NPA improved to 0.15%, versus 0.20% in December 2024 and 0.18% at the end of September 2025.

The Provision Coverage Ratio increased to 98.41% from 98.28% a year earlier, reflecting very high provisioning levels against problem assets. Bank of Maharashtra also carried cumulative Covid-19 related provisions of Rs 1,200 crore as of 31 December 2025. This additional buffer supports long-term balance sheet resilience and cushions any emerging credit risks.

"This is to inform that the Board of Directors of the Bank, at their meeting held today i.e., on 13.01.2026, have considered and approved Interim Dividend of 10 % on the equity shares of the Bank i.e., Rs. 1.00/- per share having face value of Rs. 10/- each for the Financial year 2025-26. Accordingly, we wish to inform you that the Record Date for determining the eligibility of members entitled to receive interim dividend on equity shares is Tuesday, 20th January, 2026," said Bank of Maharashtra in a stock exchange filing on 13th January.

For market participants, the latest Bank of Maharashtra results point to steady profit growth, firm margins and a cleaner loan book. Strong capital ratios, high coverage and Covid-19 buffers provide risk protection, while the interim dividend signals confidence in ongoing earnings, which may be relevant for income-oriented investors tracking public sector banks.