Bank of Maharashtra (BoM) on Friday reported a 26.84% year-on-year (y-o-y) jump in net profit to Rs 2,020 crore for the June quarter, driven by healthy growth in net interest income, improved asset quality and a sustained push towards low-cost deposits. Operating profit for the quarter rose 21.29% to Rs 3,117crore. Net interest margin was 3.85% against the bank’s full-year guidance of 3.75%. The bank attributed the performance to better asset quality, the Emergency Credit Line Guarantee Scheme (ECLGS) led MSME loan growth and a continued focus on mobilising low-cost deposits. The Bank’s International Branch became profitable in March 2026, within six months of commencing operations. Managing Director and CEO Nidhu Saxena said the bank had met all FY27 guidance numbers and, in some cases, exceeded them by a good margin. Net interest income rose 14.53% to Rs 3,770 crore. Regarding the FCNRB deposit mobilisation, he said it was early days, and there were no big numbers to report. They were in the process of formulating guidelines and setting internal targets. Saxena was confident of a sizable mobilisation by September as they were offering an interest rate of 6.60%, which was among the best by PSBs.