Business news · Corporate · 06 Oct 2026
Four private banks published September-quarter business updates. Kotak Mahindra Bank's net advances grew 24.7% from a year earlier and 12.7% in the quarter to Rs 5.77 lakh crore, with deposits up 23.2%; its CASA ratio slipped to 38.2% from 40.3%. Axis Bank's gross advances rose 22.7% to Rs 13.85 lakh crore and deposits 20.7%. IndusInd Bank's net advances grew 11.2% to Rs 3.62 lakh crore. IDFC First Bank's loans rose 29.9% to Rs 3.39 lakh crore. Kotak shares gained 4.42% to Rs 434.40, Axis 1.28% and IndusInd 1.0%, while IDFC First fell 2.39%.
All four beat the loan-growth estimates Business Today cites from Motilal Oswal, days before the results season and one day before the RBI's rate decision. Part of the jump is one-off: banks raised foreign-currency deposits from non-residents under the RBI's swap facility. Axis reported $10.62 billion (about Rs 1.02 lakh crore) of FCNR(B) deposits, Kotak $5.78 billion and IndusInd $3.51 billion; Angel One's summary of the Axis filing puts growth excluding these at 18.8%. The weaker spots are low-cost deposits: CASA ratios fell at Kotak and IndusInd, which raises funding costs and weighs on margins as rates climb.
Reported by Business Today — “KMB, Axis Bank, IndusInd Bank shares gain up to 4%, IDFC First Bank falls 3%; here's why” ↗ on 06 Oct 2026.
NSE stocks, from the last close on or before 06 Oct 2026 to the close on 16 Oct 2026.
| Sector | Stocks | Median move | Up | vs all stocks |
|---|---|---|---|---|
| Financial Services | 125 | -0.0% | 62 of 125 | +1.4 pts |
| All tracked stocks | 804 | -1.4% | 284 of 804 | — |
| Company | Then | Now | Move |
|---|---|---|---|
| Axis Bank Ltd. AXISBANK | ₹1,248 | ₹1,290 | +3.4% |
| IDFC First Bank Ltd. IDFCFIRSTB | ₹81.56 | ₹78.08 | -4.3% |
| IndusInd Bank Ltd. INDUSINDBK | ₹906.1 | ₹877 | -3.2% |
| Kotak Mahindra Bank Ltd. KOTAKBANK | ₹431.9 | ₹447.4 | +3.6% |
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