Kotak Mahindra Bank Reports Strong Q3FY26 Growth with Deposits at ₹5.43 Lakh Crores

Kotak Bank has reported strong financial performance for the quarter ended December 31, 2025, with significant growth across deposits and advances. The bank submitted its quarterly disclosure under SEBI Regulation 30, highlighting robust year-on-year expansion in key banking metrics.

Strong Deposit Growth Momentum

The bank's total deposits reached ₹5,42,638 crores as of December 31, 2025, representing a substantial 14.6% increase from ₹4,73,497 crores in the corresponding quarter of the previous year. On a quarter-on-quarter basis, deposits grew by 2.6% from ₹5,28,776 crores in September 2025.

Deposit Metrics	Dec 31, 2025	Dec 31, 2024	YoY Growth	Sep 30, 2025	QoQ Growth
Total Deposits (EOP)	₹5,42,638 cr	₹4,73,497 cr	14.6%	₹5,28,776 cr	2.6%
Total Deposits (Average)	₹5,26,025 cr	₹4,58,614 cr	14.7%	₹5,10,138 cr	3.1%
CASA (EOP)	₹2,24,199 cr	₹2,00,412 cr	11.9%	₹2,23,791 cr	0.2%
CASA (Average)	₹2,07,955 cr	₹1,90,871 cr	9.0%	₹1,98,250 cr	4.9%

Robust Advances Performance

Net advances demonstrated even stronger growth, reaching ₹4,80,229 crores at the end of December 2025, marking a 16.0% year-on-year increase from ₹4,13,839 crores. The quarter-on-quarter growth was 3.8% from ₹4,62,688 crores in the previous quarter. Average net advances for the quarter stood at ₹4,65,879 crores, showing a 16.2% annual growth and 4.0% sequential increase.

Advances Metrics	Dec 31, 2025	Dec 31, 2024	YoY Growth	Sep 30, 2025	QoQ Growth
Net Advances (EOP)	₹4,80,229 cr	₹4,13,839 cr	16.0%	₹4,62,688 cr	3.8%
Net Advances (Average)	₹4,65,879 cr	₹4,00,913 cr	16.2%	₹4,47,809 cr	4.0%

CASA Portfolio Stability

The bank's Current Account and Savings Account (CASA) deposits reached ₹2,24,199 crores, growing 11.9% year-on-year from ₹2,00,412 crores. While the quarter-on-quarter growth was modest at 0.2%, the average CASA deposits showed stronger sequential momentum with 4.9% growth to ₹2,07,955 crores.

Regulatory Compliance and Disclosure

Kotak Mahindra Bank submitted this disclosure under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The bank noted that the December 31, 2025 figures are provisional and subject to limited review by statutory auditors. The information has been made available on the bank's investor relations website for public access and transparency.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.29%	-0.58%	-0.68%	+0.49%	+20.26%	+8.62%

Kotak Bank has received a significant GST demand order from Rajasthan tax authorities, totaling ₹2.33 crores. The bank disclosed this development through a regulatory filing under SEBI Regulation 30 on December 31, 2025.

GST Demand Order Details

The order, dated December 29, 2025, was issued by the Deputy Commissioner of State Tax, Business Audit Wing, Rajasthan. The demand comprises multiple components under the Rajasthan Goods and Services Tax Act, 2017 and Central Goods and Services Act, 2017.

Component:	Amount (₹)	Legal Provision
GST Demand:	1,26,74,257	Section 50 of RGST Act & CGST Act
Interest:	93,15,576	Section 50 of RGST Act & CGST Act
Penalty:	12,67,425	Section 73 & 122 of CGST Act
Total Demand:	2,32,57,258	Multiple Provisions

Background and Timeline

The GST demand has arisen due to disallowance of input tax credit that the bank had availed during the financial year 2021-22. The bank's Company Secretary received the order information on December 31, 2025, at 3:21 p.m. IST, and promptly made the regulatory disclosure.

Bank's Response Strategy

Kotak Mahindra Bank Limited has expressed confidence in its position regarding this matter. The bank stated that it believes it has adequate grounds to support its stance and intends to file an appeal against the order under applicable laws. The bank has indicated that the financial impact would be limited to the amount of levy payable under the aforementioned order.

Regulatory Compliance

The bank has fulfilled its disclosure obligations by making this information available on its official website and filing the necessary intimation with stock exchanges. This transparency ensures that investors and stakeholders remain informed about material developments that could impact the bank's operations.