Kotak Mahindra Bank shares jump 4% as Q2 net advances rise 25% YoY, deposits up 23%

Shares of Kotak Mahindra Bank rallied 4% to their day's high of Rs 431 on the NSE on Tuesday after the private lender released its provisional business update for the July-September quarter of FY27, reporting nearly 25% year-on-year rise in net advances to Rs 5.77 lakh crore.

The company released the update in post-market hours on Monday, showing growth in end-of-period advances from Rs 4.63 lakh crore reported in the corresponding quarter of the previous financial year. Sequentially, Kotak Mahindra Bank’s net advances increased around 13% from Rs 5.12 lakh crore in the April-June quarter of the ongoing financial year 2027.

Kotak Mahindra Bank’s total deposits meanwhile increased more than 23% YoY to Rs 6.51 lakh crore in Q2 FY27, from Rs 5.29 lakh crore in Q2 FY26. Sequantially, its total end-of-period deposits increased around 14% from Rs 5.73 lakh crore reported for the quarter which ended on June 30, 2026.


The private lender’s CASA deposits, or current account and savings account deposits, stood at Rs 2.49 lakh crore at the end of September, up more than 11% from Rs 2.24 lakh crore reported a year earlier and nearly 8% from Rs 2.31 lakh crore at the end of June this year.

Also read | Kotak Mahindra Bank’s net advances climb 25% YoY to Rs 5.77 lakh crore; deposits grow 23% in Q2

Kotak Mahindra Bank said its total end of period deposits included FCNR(B) deposits aggregating to $5.78 billion (nearly Rs 55,344 crore). It further revealed advances worth $1.68 billion (approximately Rs 16,110 crore) against these FCNR(B) deposits by the bank’s international branches, converted at prevailing exchange rate as of September 30, 2026.

Kotak Mahindra Bank’s CEO appointment

Recently, the shares of the company recorded sharp gains after the private lender appointed Anup Kumar Saha as its Managing Director and CEO for a three-year term, effective January 1, 2027.

Saha will succeed Ashok Vaswani, who has decided not to seek reappointment when his current term expires on December 31, 2026, citing personal reasons. Vaswani took charge as MD and CEO on January 1, 2024, succeeding Uday Kotak, one of India's most prominent banking founders.

Saha currently serves as an Executive Director at Kotak Mahindra Bank and has over 32 years of professional experience, including 25 years in the financial services sector across banking and non-banking financial institutions. He joined the private lender in January 2026.

Also read | Kotak Mahindra Bank shares jump to 8-month high after Anup Kumar Saha named CEO. What Nomura, Jefferies expect

Kotak Mahindra Bank share price

Kotak Mahindra Bank shares gained around 2.5% in a week but declined more than 2% in one month. Overall, the shares of the private lender have dropped more than 6% in 2026 so far, outperforming Nifty 50 index which has fallen around 14% at the same time.

In the longer term, Kotak Mahindra Bank shares have dropped 3% in one year, but delivered positive returns of more than 19% in three years and over 6% in five years.

Disclaimer: This article has been written by Debaroti Adhikary, who is not a SEBI-registered Research Analyst or an Investment Adviser. Debaroti Adhikary and his/her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here.