Most banks reported strong loan growth in the fiscal second quarter, with exceptions being Union Bank of India and IndusInd Bank. Deposits also saw growth but trailed behind credit growth.

IndusInd Bank, which revealed accounting lapses and financial irregularities in its microfinance business earlier this year, saw contraction in business.

Union Bank of India has been reporting single-digit growth in its loan book as well as deposits. Both banks now have new chiefs and expect things to pace up.

Here is how the banks have fared in the September quarter:

Punjab National Bank: Double-digit growth in loans, deposits

State-run Punjab National Bank’s fiscal second quarter ended September saw a double-digit growth in both deposits and loans, pushing its total business to near Rs 28 lakh crore.

Total business

The lender's global business climbed 10.6% to Rs 27.87 lakh crore as of 30 September 2025 compared to Rs 25.20 lakh crore a year ago. Sequentially, it was up 2.5% from Rs 27.19 lakh crore in the June quarter.

Domestic business rose 10.5% to Rs 26.82 lakh crore from Rs 24.28 lakh crore a year ago and up 2.5% from Rs 26.17 lakh crore in the preceding quarter.

Loan growth

The lender's global advances logged a growth of 10.1% to Rs 11.70 lakh crore in the September quarter versus Rs 10.62 lakh crore in the earlier year, and a 3.5% quarter-on-quarter increase from Rs 11.30 lakh crore. 

Domestic loans jumped 10.5% to Rs 11.18 lakh crore from Rs 10.11 lakh crore in the same period last year, and 3.6% higher from Rs 10.79 lakh crore in the preceding quarter.

Deposits

The bank’s global deposits rose 10.9% to Rs 16.17 lakh crore from Rs 14.58 lakh crore a year ago, and 1.7% higher quarter-on-quarter from Rs 15.89 lakh crore in June 2025. 

Domestic deposits stood at Rs 15.64 lakh crore in the September quarter, up 10.4% from Rs 14.16 lakh crore and 1.7% from Rs 15.37 lakh crore in the preceding quarter.

CD ratio

The bank's global credit-to-deposit ratio stood at 72.33% as of September 2025, compared with 72.82% a year earlier and 71.09% a quarter ago.

HDFC Bank: Loans rise 9%, deposits 15%

HDFC Bank, India’s largest private sector lender, has reported a 9% year-on-year rise in loans to Rs 27.9 lakh crore as of 30 September 2025. 

In the same quarter a year ago, the bank’s loan book was Rs 25.6 lakh crore.

In a regulatory filing, HDFC Bank said its total advances under management stood at Rs 28.6 lakh crore as of 30 September, up 8.9% from Rs 26.3 lakh crore a year earlier.

Deposits

Total deposits grew 15.1% to Rs 27.1 lakh crore from Rs 23.5 lakh crore in the year-ago period.

The bank's average low-cost CASA (current account savings account) deposits stood at Rs 8,770 billion, registering a growth of 8.5% from Rs 8,084 billion in September 2024 quarter.

Bank of Baroda: Loans up 11.9%, deposits 9.3%

Bank of Baroda’s global business grew 10.47% in the September quarter to Rs 27.79 lakh crore from Rs 25.16 lakh crore a year ago, according to provisional data released by the lender. 

The state-owned bank’s global advances rose 11.9% to Rs 12.79 lakh crore as on 30 September, compared with Rs 11.43 lakh crore in the same quarter last year.

Domestic advances rose 11.49% to Rs 10.47 lakh crore from Rs 9.39 lakh crore.

The domestic retail loan book (excluding pool purchase) stood at Rs 2.73 lakh crore as of 30 September 2025, up 17.56% from Rs 2.32 lakh crore.  

Deposits

Global deposits stood at Rs 15 lakh crore, up 9.28% from Rs 13.73 lakh crore a year ago.

Domestic deposits rose 9.66% to Rs 12.72 lakh crore in the September quarter, from Rs 11.60 lakh crore in the same quarter last year.

Union Bank of India: Single-digit growth

Union Bank of India posted single-digit credit growth for the fifth quarter in a row. Deposit growth also stayed in single digits for the seventh straight quarter.

The state-run lender’s global advances grew 4.98% to Rs 9.75 lakh crore in the fiscal second quarter ended September, compared with Rs 9.29 lakh crore in the year-ago period. On a sequential basis, the growth was just 0.06%.

Domestic advances grew 5.34% to Rs 9.42 lakh crore from Rs 8.94 lakh crore in the same quarter of last year.

Domestic retail loans grew higher at 23.96% to Rs 2.38 lakh crore in the September quarter from Rs 1.92 lakh crore a year ago. On a sequential basis, this segment grew by 4.12% from Rs 2.29 lakh crore in the June quarter.

Driven largely by retail loans, growth in the domestic RAM (retail, agriculture and MSME) segment rose by 9.26% to Rs 5.54 lakh crore from Rs 5.07 lakh crore. On a sequential basis, the RAM segment stood at just 1.67% from Rs 5.45 lakh crore in the June quarter.

Deposits

Total deposits for the September quarter grew 1.90% to Rs 12.35 lakh crore from Rs 12.12 lakh crore in the year-ago period.

Domestic deposits grew 1.89% to Rs 12.34 lakh crore from Rs 12.11 lakh crore. On a sequential basis, deposit grow in both these segments was in the negative zone, at 0.43% and 0.44%, respectively.

Retail deposits

Domestic retail term deposits, however, saw a higher year-on-year growth at 14.10%, rising to Rs 5.46 lakh crore in the September quarter from Rs 4.78 lakh crore in the earlier year. On a sequential basis, it rose 5.61% from Rs 5.17 lakh crore in the June quarter. 

CASA

At the end of the September quarter, domestic CASA stood at Rs 4.02 lakh crore, a growth of just 1.41% from last year and a decline of 0.3% from the trailing quarter. 

IndusInd Bank: Contraction in total biz 

IndusInd Bank has seen a contraction in business during the September quarter as the private lender has continued to feel the impact of accounting lapses in its derivatives portfolio declared in March this year.

Loan book

The Mumbai-based bank reported an 8% decline in net advances to Rs 3.27 lakh crore from Rs 3.57 lakh crore a year ago. This marked the third quarterly fall in a row.

Deposits

Deposits also fell 5.5% to Rs 3.89 lakh crore, compared to Rs 4.12 lakh crore a year ago. Sequentially, deposits declined 2% both in case of advances and deposits. 

CASA

The bank's CASA ratio weakened to 30.8% as of 30 September 2025, from 35.9% a year ago and 31.5% in the preceding quarter, reflecting a shift away from low-cost deposits.

Retail and small business deposits declined marginally to Rs 1.84 lakh crore from nearly Rs 1.85 lakh crore in the June quarter.

The Hinduja Group-promoted bank has appointed Rajiv Anand, who was deputy MD in Axis Bank, as managing director and CEO for a three-year term beginning August 2025. With a change in top leadership, the lender hopes to post a revival.

Kotak Mahindra Bank: Strong growth

Kotak Mahindra Bank reported strong fiscal second-quarter growth in both advances and deposits.

Loans

The private lender posted a 15.8% rise in loan growth to Rs 4.62 lakh crore in the fiscal second quarter ended September 2025 versus Rs 3.99 lakh crore in the year-ago period.

Deposits

The bank’s total deposits grew 14.6% to Rs 5.28 lakh crore, up from Rs 4.61 lakh crore a year earlier.

Yes Bank: Single-digit growth

Yes Bank reported single-digit growth in both advances and deposits for the quarter ended September.

Loans

The private lender’s loan book grew 6.5% to Rs 2.5 lakh crore in the September quarter from Rs 2.35 lakh crore a year ago, according to provisional numbers disclosed by the lender. 

Deposits

Total deposits stood at Rs 2.97 lakh crore, up 7.1% from Rs 2.77 lakh crore in the earlier year.

CASA

CASA rose 13.2% to Rs 1 lakh crore as of 30 September 2025.

CASA ratio improved to 33.8% from 32% a year ago and 32.8% a quarter ago. 

CD ratio

Credit-to-deposit ratio for the September quarter contracted to 84.4% from 87.4% in the preceding quarter and 84.8% a year ago.

Bank of Maharashtra: Double-digit growth

The state-owned Bank of Maharashtra has posted a 16.8% credit growth of Rs 2.54 lakh crore in the fiscal second quarter compared to Rs 2.17 lakh crore a year ago.

Deposits

Total deposits grew 12.1% in total deposits to Rs 3.09 lakh crore as of 30 September 2025 versus Rs 2.76 lakh crore in the same quarter of the previous fiscal.

The CASA ratio stayed strong at 50.35%, up from 49.29% in the year-ago period.

Total biz

The Pune-based bank's total business rose 14.2% to Rs 5.64 lakh crore, from Rs 4.94 lakh crore in the September quarter last year.

CD ratio

Credit-to-deposit ratio rose expanded to 82.05% in the September quarter from 78.72% in the year-ago period.

IDBI Bank: Loans rise 15%, deposits 9%

IDBI Bank saw good growth in the second quarter with total business expanding by 12% to Rs 5.33 lakh crore from Rs 4.78 lakh crore a year ago.

Loans

The loan book grew 15% to Rs 2.30 lakh crore as of 30 September 2025, compared with Rs 2 lakh crore in the same quarter last year.

Deposits

Total deposits rose 9% to Rs 3.03 lakh crore from Rs 2.77 lakh crore a year ago. 

CASA

The bank’s CASA deposits increased 4% to Rs 1.39 lakh crore against Rs 1.33 lakh crore in Q2 of FY25. 

UCO Bank: Total biz expands 13.3%

State-run UCO Bank’s total business grew 13.23% to Rs 5.36 lakh crore in the September quarter from Rs 4.74 lakh crore in the earlier year. 

Loan book

The Kolkata-based bank’s loan book rose 16.56% to Rs 2.31 lakh crore, from Rs 1.98 lakh crore in the same period last year. Sequentially, advances were up 2.67% from Rs 2.25 lakh crore in the June quarter. 

Deposits

Deposits rose 10.85% to Rs 3.05 lakh crore, compared with Rs 2.76 lakh crore last year. 

Domestic advances rose 17.24% to Rs 2.04 lakh crore, while domestic deposits grew 9.85% to Rs 2.90 lakh crore.

CASA

The bank’s domestic CASA ratio widened to 38.11% as of 30 September, compared with 36.91% in the preceding quarter. 

CD ratio

Credit-to-deposit ratio stood at 75.47%, up from 71.77% a year ago.

Punjab & Sind Bank: Credit outpaces deposit growth 

Punjab & Sind Bank’s total business increased 12.2% to Rs 2.41 lakh crore from Rs 2.15 lakh crore a year ago.

Loans

The state-run bank logged 15.97% growth in loans to Rs 1.05 lakh crore for the quarter ended 30 September, compared with Rs 91,032 crore in the same period last year.

Deposits

Total deposits rose 9.42% to Rs 1.36 lakh crore from Rs 1.24 lakh crore in the corresponding quarter of FY25. 

CASA

The bank’s CASA ratio remained stable at 30.3%, compared to 30.4% in the year-ago quarter.

CD ratio

The credit-to-deposit ratio improved to 77.79% from 73.4% a year earlier. Thus, loan deployment was relatively stronger than deposit growth.