Kotak Mahindra Bank Limited reported ₹4,695 crore in outstanding debt securities as on September 30, 2026. The bank disclosed this figure in a half-yearly statement filed with stock exchanges, confirming that the total amount issued matches the amount currently outstanding.

The disclosure was made in compliance with Clause 9.1(a) of Chapter VIII of the SEBI Master Circular dated October 15, 2025. The filing lists four specific bond series issued between December 2022 and February 2024, all maturing between December 2029 and February 2031.

Debt security composition

The outstanding debt comprises four distinct series of bonds, all paying annual coupons. No embedded options were attached to any of the instruments. The coupon rates range from 7.55% to 7.85% per annum.

What the numbers show

A close look at the data reveals that the largest single tranche, worth ₹1,895 crore, carries the lowest coupon rate of 7.55%. This suggests that Kotak Mahindra Bank secured its most favorable borrowing cost for the largest portion of this specific debt stack during mid-2023. Conversely, the smallest tranche of ₹300 crore issued in March 2023 bears the highest interest burden at 7.85%, indicating tighter market conditions or specific issuance constraints at that time.

Kotak Mahindra Bank Limited reported a 24.7% year-on-year increase in net advances for the quarter ended September 30, 2026, reaching ₹5,77,094 crore. This robust credit growth was accompanied by a 23.2% YoY expansion in total deposits, which stood at ₹6,51,491 crore.

The bank's deposit base saw significant momentum, with Current Account Savings Account (CASA) balances growing 11.3% YoY to ₹2,49,105 crore. On a quarter-on-quarter basis, net advances expanded 12.7%, while total deposits grew 13.7%, indicating sustained demand for credit and liquidity inflows during the period.

Deposit and advance metrics

The following table details the key balance sheet metrics for the quarter ended September 30, 2026, compared to the previous quarter and the corresponding period last year.

What the numbers show

A notable divergence exists between the growth rates of average versus end-of-period (EOP) figures. Average net advances grew 22.1% YoY, while EOP net advances surged 24.7% YoY. Similarly, average CASA balances grew 14.2% YoY, outpacing the 11.3% YoY growth in EOP CASA. This pattern suggests that the bank may have added a substantial volume of advances and deposits towards the very end of the quarter, or that the average base from the prior year was lower relative to the current peak levels, highlighting strong late-quarter activity.

Additionally, the data reveals that FCNR(B) deposits aggregating to $5.78 billion (approximately ₹55,344 crore) are included in the EOP balances. These were converted at the prevailing exchange rate as of September 30, 2026, pursuant to the Reserve Bank of India's swap facility. Correspondingly, advances against these deposits by international branches totaled $1.68 billion (approximately ₹16,110 crore).

The intimation was filed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The bank noted that these figures are provisional and subject to limited review by its statutory auditors.