Q1 2026 Bank of Maharashtra Ltd Earnings Call Transcript
Key Points
- Bank of Maharashtra (BOM:532525) has maintained consistent performance for the past three to four years, with Q1 FY 2026 being another consistent quarter.
- The bank's growth, asset quality, profitability, and efficiency ratios are all within the guidance range, with 18 out of 26 parameters leading the industry.
- The bank is expanding its geographical presence with a plan to open 1,000 branches in five years, with 321 branches targeted in the next 18 months.
- The bank is focusing on sustainable growth by recruiting specialized skill sets in compliance, governance, and technology risk management.
- The bank is revamping its mobile banking application to enhance customer experience and has received regulatory approval to open a GIFT IBU, which is expected to open new business opportunities.
- The bank experienced higher slippages in Q1 FY 2026, particularly in the agriculture segment, which accounted for 47% of the slippages.
- The SMA-2 numbers increased significantly to INR 171 crores from INR 40 crores in the previous quarter, indicating potential stress in the loan book.
- Despite a decrease in cost of deposits, the cost of funds only decreased by 4 bps, partly due to increased borrowings.
- The MSME and agriculture loan books saw a decline, with the MSME book down 7% Q-o-Q and the agriculture book down 8% Q-o-Q.
- The bank's NIM guidance for the year is conservative at 3.75%, reflecting potential challenges in maintaining margins amid rate cuts.
Ladies and gentlemen, good day, and welcome to Bank of Maharashtra Q1 FY 2026 earnings conference call. (Operator Instructions) Please note that this conference is being recorded. We have with us from the management, Sri Nidhu Saxena, Managing Director and Chief Executive Officer; Sri Asheesh Pandey, Executive Director; Shri Rohit Rishi, Executive Director and all general managers of the bank.
I now hand the conference over to Shri Nidhu Saxena. Thank you, and over to you, Mr. Saxena.
Good afternoon, and thank you for joining this con call. And hearing out from the bank, how the quarter FY '25, '26, Q1 has been. And I'm happy to share that the quarter is among our -- I should say, a consistent quarter. Bank has been delivering this consistent performance for three years to four years now. And this quarter also qualifies as yet another consistent performing quarter.
Whatever guidance that we have kept for the business growth, total business advances,
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