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2w ago

Kotak Mahindra’s Q1 Advances Propel Shares Up, Union Bank Shares Slump 6%

June rate cuts by the RBI under Basel III norms supported broad credit and deposit growth that exposed private and public banks’ Q1 performance gap.

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Overview

  • Kotak Mahindra Bank’s net advances rose 4.2% quarter-on-quarter to Rs 4.45 lakh crore and 14% year-on-year in Q1 FY26.
  • Total deposits at Kotak climbed 2.8% sequentially to Rs 5.13 lakh crore and 14.6% year-on-year, while CASA deposits dipped 2.2% from the previous quarter but grew 7.9% over the year.
  • Kotak Mahindra shares jumped 4.3% to Rs 2,241.5, the highest since April 29, after Motilal Oswal issued a buy rating on the strength of its loan and deposit growth.
  • Union Bank of India’s total business rose 5% year-on-year to Rs 21.09 lakh crore but fell 1.8% sequentially, with deposits down 2.5% and advances down 0.9% in Q1 FY26.
  • Union Bank shares dropped nearly 6% to about Rs 142 on July 9 as analysts flagged bearish technical signals with potential downside toward Rs 135.