Mumbai, Oct. 26 -- Net profit grew 2% sequentially from Rs 4,123 crore in Q1 FY27.

Total income increased 17.88% year-on-year and 7.44% quarter-on-quarter to Rs 19,141.29 crore. Net interest income (NII) increased 16% year-on-year and 7% quarter-on-quarter to Rs 8,459 crore. Net interest margin (NIM), however, moderated to 4.31% from 4.54% a year ago and 4.53% in the previous quarter. The bank attributed the moderation largely to the mobilisation of foreign currency non-resident bank (FCNR(B)) deposits during the quarter.

Fees and services income rose 21% year-on-year and 17% sequentially to Rs 2,926 crore. Operating profit increased 21% year-on-year and 4% quarter-on-quarter to Rs 6,382 crore. Operating expenses rose 14% year-on-year t...