Bank of India (BoI) and Jammu & Kashmir Bank (J&K Bank) reported strong growth in their loan books in the September quarter, with gross advances rising 20.4% and 23.7% year-on-year (y-o-y), respectively, according to provisional business figures released on Saturday.
BoI’s global gross advances rose to Rs 8.54 lakh crore as of September-end, while global deposits increased 21.6% to Rs 10.38 lakh crore. Its total global business grew 21.1% to Rs 18.92 lakh crore. Domestic advances increased 17.7% to Rs 7.03 lakh crore, while domestic deposits rose 23.3% to Rs 9 lakh crore.
The bank’s domestic retail, agriculture and MSME (RAM) advances grew 18.6% to Rs 4.12 lakh crore. J&K Bank recorded a 23.7% y-o-y increase in gross advances to Rs 1.34 lakh crore, ahead of the 16.3% growth in deposits to Rs 1.77 lakh crore. Its total business increased 19.4% to Rs 3.10 lakh crore. The bank’s current account and savings account (CASA) ratio, however, declined 388 basis points year-on-year to 42.01%.
Across banks that have disclosed their provisional numbers so far, credit growth remained strong during the quarter and outpaced deposit growth. This also pushed up credit-deposit ratios at several banks.
Punjab National Bank’s (PNB) global advances rose 14.8% y-o-y to Rs 13.43 lakh crore, compared with a 9.9% increase in deposits to Rs 17.77 lakh crore. Its global CD ratio increased to 75.56% from 72.33% a year ago. Canara Bank reported 19.4% growth in global advances to Rs 13.74 lakh crore, while global deposits increased 13.1% to Rs 16.97 lakh crore. Its domestic RAM (retail, agriculture and MSME) portfolio grew faster at 21% to Rs 8.12 lakh crore.
UCO Bank’s advances jumped 24.7% y-o-y to Rs 2.88 lakh crore, substantially faster than the 14.1% growth in deposits to Rs 3.49 lakh crore. Its CD ratio rose to 82.37% from 75.47% a year earlier.
Similarly, Punjab & Sind Bank reported a 19.4% rise in gross advances, compared with 13% growth in deposits. Its CD ratio increased to 82.19% from 77.79%. Indian Bank’s gross advances increased 16.6% y-o-y to Rs 7.23 lakh crore, while deposits rose 12.4% to Rs 8.73 lakh crore. Its domestic RAM portfolio expanded 17.8% to Rs 4.43 lakh crore.
Among other private sector lenders, Karnataka Bank’s gross advances surged 24.9% to Rs 92,015 crore, more than twice the 12% growth in deposits to Rs 1.15 lakh crore. The ratio of CASA deposits to total deposits stood at 31.81%, up 80 basis points (bps) from a year earlier, but down 61 bps sequentially.
South Indian Bank reported an 18.7% rise in gross advances to Rs 1.10 lakh crore, largely in line with the 18.7% growth in deposits to Rs 1.37 lakh crore. “During the quarter ended 31.03.2026 Bank had technically written off an amount of Rs 1,048 crore. Had it not been done the y-o-y growth as on 30.09.2026 would have been 19.81%,” the bank said.
Dhanlaxmi Bank’s advances grew 22.3% on year, led by a 53.4% jump in gold loans and 35.9% growth in MSME loans. Deposits increased 20.2% to Rs 20,552 crore.