Banking Stocks: Advances Surge Up to 26% YoY; See Which Banks Led the Q2 FY27 Race
The banking industry is experiencing consistent business operations, as evidenced by several banks that have reported good performance in terms of deposits, advances, and business in general during the September 2026 quarter.
Credit growth was especially robust among both public and private sector banks, while deposit generation was also encouraging. The recent business developments offer an early indication of the performance levels of individual banks and those that are performing well in operational terms.
Canara Bank:
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Canara Bank’s global business rose to ₹30.71 lakh crore as of September 30, 2026, up 5.71% QoQ and 15.83% YoY, compared with ₹29.05 lakh crore in June 2026 and ₹26.51 lakh crore in September 2025.
Global deposits increased to ₹16.97 lakh crore, registering 5.31% QoQ and 13.13% YoY growth, while global advances stood at ₹13.74 lakh crore, growing 6.21% QoQ and 19.35% YoY.
On the domestic front, deposits reached ₹15.48 lakh crore, up 5.05% QoQ and 10.96% YoY, while domestic advances rose to ₹12.63 lakh crore, showing 4.67% QoQ and 16.83% YoY growth.
The RAM (Retail, Agriculture and MSME) portfolio stood at ₹8.12 lakh crore, increasing 6.20% QoQ and 21% YoY, making it the fastest-growing portfolio among the key segments.
Bank of India
Bank of India’s global business rose to ₹18.92 lakh crore as of September 30, 2026, up 21.07% YoY, from ₹15.62 lakh crore a year earlier and ₹17.56 lakh crore in June 2026.
Global deposits increased to ₹10.38 lakh crore, registering 21.60% YoY growth, while global advances stood at ₹8.54 lakh crore, up 20.43% YoY. On the domestic front, deposits reached ₹9.00 lakh crore, growing 23.30% YoY, while domestic advances rose to ₹7.03 lakh crore, up 17.70% YoY.
The RAM advances portfolio stood at ₹4.12 lakh crore as of September 2026, increasing 18.57% YoY from ₹3.48 lakh crore in September 2025 and ₹3.93 lakh crore in June 2026.
Indian Bank:
Indian Bank’s total business rose to ₹15.96 lakh crore as of September 30, 2026, up 4.4% QoQ and 14.2% YoY, compared with ₹15.29 lakh crore in June 2026 and ₹13.97 lakh crore a year earlier.
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Total deposits increased to ₹8.73 lakh crore, registering 3.4% QoQ and 12.4% YoY growth. Within this, SB deposits stood at ₹2.76 lakh crore, up 1.8% QoQ and 10.8% YoY, while CA deposits rose to ₹0.51 lakh crore, growing 6.3% QoQ and 27.5% YoY. The domestic CASA ratio stood at 39.28%, compared with 39.73% in June 2026 and 38.87% a year earlier.
Gross advances increased to ₹7.23 lakh crore, up 5.5% QoQ and 16.6% YoY. The RAM portfolio stood at ₹4.43 lakh crore, registering stronger growth of 6.2% QoQ and 17.8% YoY.
UCO Bank
UCO Bank’s total business increased to ₹6.37 lakh crore as of September 30, 2026, registering 18.84% YoY growth, compared with ₹6.05 lakh crore in June 2026 and ₹5.36 lakh crore a year earlier.
Total advances rose to ₹2.88 lakh crore, up 24.68% YoY, while total deposits stood at ₹3.49 lakh crore, growing 14.05% YoY. On the domestic front, advances increased to ₹2.57 lakh crore, up 25.98% YoY, while domestic deposits reached ₹3.32 lakh crore, registering 14.48% YoY growth.
The credit-deposit (CD) ratio improved to 82.37% in September 2026 from 82.08% in June 2026 and 75.47% a year earlier, indicating stronger credit deployment relative to deposits.
Karur Vysya Bank Ltd
Karur Vysya Bank’s total business rose to ₹2.40 lakh crore as of September 30, 2026, registering 17.96% YoY and 5.48% QoQ growth, compared with ₹2.03 lakh crore a year earlier and ₹2.27 lakh crore in June 2026.
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Total deposits increased to ₹1.28 lakh crore, up 15.96% YoY and 4.52% QoQ, while advances stood at ₹1.12 lakh crore, growing 20.34% YoY and 6.60% QoQ.
CASA deposits rose to ₹35,265 crore, registering 15.41% YoY and 4.41% QoQ growth, compared with ₹33,777 crore in June 2026 and ₹30,555 crore a year earlier.
Karnataka Bank Ltd
Karnataka Bank’s CASA deposits increased to ₹36,626 crore as of September 30, 2026, up 14.88% YoY and 2.34% QoQ, compared with ₹35,787 crore in June 2026 and ₹31,882 crore a year earlier.
Total deposits rose to ₹1.15 lakh crore, registering 11.98% YoY and 4.30% QoQ growth. The CASA share of total deposits stood at 31.81%, improving by 80 bps YoY, though it declined by 61 bps from 32.42% in June 2026.
Gross advances grew strongly to ₹92,015 crore, up 24.94% YoY and 6.24% QoQ, compared with ₹86,610 crore in June 2026 and ₹73,644 crore a year earlier.
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