Major Indian Banks Report June Quarter Profit Growth

Several major Indian banks reported growth in net profits for the June quarter ending in 2026, primarily attributed to lower provisioning and strong recoveries from stressed accounts. Axis Bank Ltd. saw its net profit rise 22.5% to ₹7,114 crore, supported by a 44% decline in provisions. Kotak Mahindra Bank Ltd. experienced its strongest earnings growth in two years, with net profit increasing 26% to ₹4,123 crore following a 45% drop in provisions.

IDBI Bank Ltd. reported a 5.4% profit increase to ₹2,115 crore, while YES Bank achieved a 34% profit growth to ₹1,071 crore. Unlike the other institutions, YES Bank attributed its gains to core operating performance and a 17.5% increase in net interest income rather than reduced provisioning.

Across the sector, banks reported stable asset quality and healthy growth in advances and deposits. Leadership noted a particular surge in interest from NRI customers regarding FCNR(B) deposits as a potential source of liquidity. Executives from the reporting banks emphasized a strategic focus on stability, profitability, and the strength of core recurring earnings engines to drive future performance.