Responding to a question on whether the bank would revise its guidance amid improving industry credit growth, Saxena said the lender would retain its existing target.
“I would not like to revisit our guidance of 18% growth, but the way things are happening, it looks like we are able to perform at a higher level. But we will maintain the guidance at 18%,” he said.
The bank also retained its FY27 net interest margin (NIM) guidance of 3.75%. Although NIM declined to 3.79% in the June quarter from 3.91% in the preceding quarter, Saxena said the bank remained above its guided level and would continue to focus on profitable growth.According to the bank, business expansion will continue to be driven by profitability rather than volume alone. Saxena said the lender has introduced profitability dashboards for branch managers and is evaluating incorporating profitability metrics into branch-level performance assessments.
On the liability side, the bank said it consciously avoided raising fresh certificates of deposit (CDs) during the June quarter and funded credit growth through deposits. Total deposits grew 13% year-on-year to ₹3.44 lakh crore during the quarter.
Bank of Maharashtra reported a 26.8% rise in net profit to ₹2,020 crore for the June quarter, while net interest income increased 14.5% year-on-year to ₹3,770 crore.
Gross advances rose 27% year-on-year to ₹3.06 lakh crore, while total business crossed ₹6.5 lakh crore. Asset quality remained stable, with the gross non-performing asset ratio at 1.45% and the net NPA ratio at 0.13%.
Shares of the Bank ended 2.43% higher at ₹84 following the result announcement on Friday. The stock has gained over 32% so far in 2026 and more than 48% over the last 12 months.
