BANK OF MAHARASHTRA

Bank of Maharashtra's Board of Directors, in a meeting held on October 26, 2026, approved the Unaudited (Reviewed) Financial Results (Standalone and Consolidated) for the Quarter and Half-year ended September 30, 2026. The filing also includes the Limited Review Report from auditors, a statement on utilization of issue proceeds, and a Security Cover Certificate as of September 30, 2026. The bank's website will host the detailed financial results.

Bank of Maharashtra announced its financial results for the quarter and half-year ended September 30, 2026. For the second quarter of FY27, the bank reported a significant 41.42% year-on-year increase in Net Profit, reaching ₹2,310 crore, up from ₹1,633 crore in Q2 FY26. Operating Profit also saw a substantial rise of 30.86% to ₹3,369 crore. Net Interest Income grew by 21.76% to ₹3,954 crore. Total Global Business expanded by 25.16% to ₹7,05,766 crore, with Deposits increasing by 21.50% to ₹3,76,407 crore and Advances growing by 29.61% to ₹3,29,359 crore. Asset quality improved, with Gross NPA declining to 1.25% and Net NPA to 0.12%. The Provision Coverage Ratio improved to 98.53%. For the half-year ended September 30, 2026, Net Profit increased by 34.22% to ₹4,330 crore.

Bank of Maharashtra's consolidated group net profit rose 41.4% YoY to ₹2,309.97 Cr for Q2 FY27 (quarter ended September 30, 2026), with the amount attributable to shareholders — after a ₹173.48 Cr share-of-loss from associate Maharashtra Gramin Bank — at ₹2,136.48 Cr (EPS ₹2.78, basic, not annualised). Both read above the ₹2,050–2,100 Cr on-plan range flagged in our pre-result preview, a beat on the Street's working number; standalone PAT of ₹2,309.59 Cr (EPS ₹3.00) shows the core bank's profitability nearly matches the consolidated group figure before the associate drag. Interest earned (revenue) grew 20.7% YoY and 7.1% QoQ to ₹8,606.39 Cr, taking total income to ₹9,735.67 Cr. The margin trajectory is a YoY expansion story rather than a sequential one: net profit margin improved to 22.34% from 20.83% a year ago (flat versus 22.32% in Q1), while operating margin rose to 33.42% from 32.59% YoY but slipped from 34.42% in Q1 — roughly 100bps of sequential compression. The swing sits on provisioning: the bank booked its first ₹500 Cr 'anticipated ECL impact' charge this quarter (nil in Q1, per note 14), partly cushioned by a ₹250 Cr reversal from its COVID-19 contingency buffer (₹510 Cr of the buffer remains, down from ₹760 Cr in Q1). Total provisions (other than tax) nonetheless fell YoY to ₹654.45 Cr from ₹755.87 Cr, aided by continued asset-quality gains — gross NPA fell to 1.25% from 1.72% YoY (1.45% in Q1) and net NPA to 0.12% from 0.18% YoY, with provision coverage at 98.53%. Separately, 63 fraud cases aggregating ₹308.19 Cr were reported during the quarter, netting a ₹273.42 Cr loss that is 100% provided (note 11). Against management's prior guidance — reiterated confidence on 18% FY27 loan growth, healthy NIMs and sub-1% credit cost — the quarter's asset-quality and provisioning trends track in line (guidance met); the results table does not disclose a standalone NIM figure, leaving the ~2.85–2.95% range flagged pre-result unconfirmed pending the investor presentation. The quarter's governance calendar included a new Chief Compliance Officer (Devdatta Rokade, Oct 1), the CVO's retirement (Sep 30), an MCLR revision across tenors (Sep 29) and a GlobeTrend ESG rating (Oct 19) — none of which show up directly in the P&L. More consequential was a USD 500 Mn unsecured foreign-currency bond raise via GIFT IBU during the quarter (note 9) and the redemption of ₹500 Cr Basel III Tier-II bonds on maturity in H1 (note 8), alongside the transfer of the discontinued Investment Fluctuation Reserve (₹1,091.10 Cr) into retained profit under an RBI circular (note 5). On the consolidated bottom line, associate Maharashtra Gramin Bank swung to a ₹173.48 Cr loss contribution from a ₹2.78 Cr profit in Q1 and ₹35.11 Cr a year ago — the sole reason attributable consolidated PAT (₹2,136.48 Cr) trails the standalone number, despite standalone and group pre-adjustment profit being nearly identical.

Bank of Maharashtra has announced that its Board of Directors will convene on October 26, 2026, to consider and approve the unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2026. In line with SEBI regulations, the trading window for designated persons has been closed from October 1, 2026, and will reopen 48 hours after the financial results are declared.

Bank of Maharashtra has received an Environmental, Social, and Governance (ESG) rating from GlobeTrend Climate Impact Pvt. Ltd. The rating, assigned via a report dated October 8, 2026, covers the assessment period of 2025-26. This intimation is in compliance with SEBI (LODR) Regulations and the relevant SEBI circular. The bank will also host this information on its official website. The report details the ESG performance of the bank, including pillar-wise ratings for Environment, Social, and Governance, along with a comparison to industry peers.

Bank of Maharashtra has announced the appointment of Shri Devdatta Rokade as the new Chief Compliance Officer (CCO) of the bank. Mr. Rokade, who holds the rank of Chief General Manager (CGM), will assume his new responsibilities effective October 1, 2026. This appointment follows an earlier communication on July 24, 2026, indicating the bank's intention to fill this crucial role from its existing pool of CGMs. The bank has informed the stock exchanges in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Bank of Maharashtra announced the superannuation of its Chief Vigilance Officer, Shri Amit Srivastava. He ceased to hold the position effective from the close of working hours on September 30, 2026, upon attaining the age of superannuation. This information is provided in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Bank of Maharashtra has announced a review and revision of its Marginal Cost of Funds Based Lending Rate (MCLR). The revised rates are effective from September 30, 2026. Notably, the MCLR for overnight tenor has decreased from 7.10% to 7.05%, and the one-month tenor has been reduced from 8.15% to 7.90%. However, the one-year tenor has seen a slight increase from 9.00% to 9.05%. All rates are applicable on a per annum basis. This update is in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Bank of Maharashtra has announced the closure of its trading window for dealing in the bank's securities. This closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015. The window will be shut for directors, designated persons, their immediate relatives, and connected persons from October 1st, 2026, until 48 hours after the declaration of the bank's financial results for the quarter ending September 30th, 2026. The specific date for the board meeting to approve these results will be communicated separately.

Bank of Maharashtra has been notified of a proposed strike by the United Forum of Bank Unions scheduled for September 28th, 29th, and 30th, 2026. The strike is in response to unresolved demands by the union. The bank is implementing measures to ensure continued operations, but acknowledges that branch and office functioning may be impacted if the strike proceeds. This disclosure is made in compliance with SEBI regulations.