> ## Content Index > Fetch the complete content index at: https://www.moatmarginresearch.com/llms.txt > Use this file to discover other available public pages before exploring further. # Q2 Bank Scoreboard: 22 Banks Ranked From Their Filings - URL: https://www.moatmarginresearch.com/q2-fy27-bank-scoreboard/ - Published: 2026-10-04T04:42:10.000Z - Updated: 2026-10-04T04:42:10.000Z - Description: 22 banks' Q2 FY27 deposits and loans, from their own filings. Loans grew a median 21%, deposits 17%. Who is stretching, and who isn't. - Author: A K Karthikeyan - Tags: Moat Insights **Twenty-two Indian banks have now filed their September-quarter business numbers. Across them, loans grew a median 21% from a year earlier and deposits 17%. At 19 of the 22, loans outgrew deposits. The gap was widest at Karnataka Bank, Union Bank, UCO Bank and Equitas. Only Bank of India, AU Small Finance Bank and South Indian Bank grew deposits at least as fast as loans.** ## The scoreboard Ranked by advances growth, year on year to 30 September 2026\. Each bank's name links to its own filing. | # | Bank | Deposits YoY | Advances YoY | Gap (pp) | Loans ÷ deposits | MoatSCORE | | -- | ----------------------------------------------------------------------------------------------------------------------------------------------------- | ------------ | ------------ | -------- | ---------------- | -------------- | | 1 | [Ujjivan SFB](https://nsearchives.nseindia.com/corporate/UJJIVANBANK%5F03102026163008%5F90%5FBusiness%5FUpdateQ2%5FFY27.pdf) | +29.2% | +32.1% | +3.0 | 90.2% | not yet scored | | 2 | [Equitas SFB](https://nsearchives.nseindia.com/corporate/EQUITASBNK%5F02102026144140%5FFinalbusinessupdateforupload.pdf) | +19.0% | +29.6% | +10.6 | 96.6% | not yet scored | | 3 | [Tamilnad Mercantile Bank](https://nsearchives.nseindia.com/corporate/9659523378%5F01102026130409%5F72.pdf) | +25.5% | +29.4% | +3.9 | 87.3% | not yet scored | | 4 | [AU Small Finance Bank](https://nsearchives.nseindia.com/corporate/SUMIT1%5F03102026193825%5FProvisional%5Frelease%5FQ2%5FFY27.pdf) | +28.6% | +27.9% | \-0.8 | 88.2% | 5.90 | | 5 | [ESAF Small Finance Bank](https://nsearchives.nseindia.com/corporate/esfb%5F01102026233055%5FSE%5FIntimation%5FKey%5FBusiness%5FUpdates%5FQ2FY27.pdf) | +24.3% | +25.1% | +0.7 | 84.1% | not yet scored | | 6 | [Karnataka Bank](https://nsearchives.nseindia.com/corporate/KTKBANK%5F01102026152448%5FPKBPF.pdf) | +12.0% | +24.9% | +13.0 | 79.9% | not yet scored | | 7 | [UCO Bank](https://nsearchives.nseindia.com/corporate/UCOBANK%5F01102026184005%5FNSEBSEPROV30092026.pdf) | +14.1% | +24.7% | +10.6 | 82.5% | 5.59 | | 8 | [Jammu & Kashmir Bank](https://nsearchives.nseindia.com/corporate/MARYA%5F03102026153419%5FBusiness%5FFigures.pdf) | +16.3% | +23.7% | +7.4 | 75.5% | 5.55 | | 9 | [Capital Small Finance Bank](https://nsearchives.nseindia.com/corporate/CAPITALSFB%5F01102026131411%5FBusinessUpdateQ2FY27signed.pdf) | +16.2% | +23.4% | +7.1 | 90.1% | not yet scored | | 10 | [Dhanlaxmi Bank](https://nsearchives.nseindia.com/corporate/DHANBANK%5F01102026152523%5FBusinessUpdates.pdf) | +20.1% | +22.3% | +2.1 | 77.6% | not yet scored | | 11 | [CSB Bank](https://nsearchives.nseindia.com/corporate/CSBBANK%5F01102026222725%5FBSENSEBusinessUpdates30092026f.pdf) | +18.2% | +22.1% | +3.8 | 90.4% | not yet scored | | 12 | [Bank of India](https://nsearchives.nseindia.com/corporate/BANKINDIA5%5F03102026155652%5FBusinessFigures.pdf) | +21.6% | +20.4% | \-1.2 | 82.3% | 5.57 | | 13 | [Karur Vysya Bank](https://nsearchives.nseindia.com/corporate/KARURVYSYA%5F01102026135321%5FIRC%5FSep%5F2026%5FDSC.pdf) | +16.0% | +20.3% | +4.4 | 87.1% | 5.58 | | 14 | [Punjab & Sind Bank](https://nsearchives.nseindia.com/corporate/PSB%5F01102026173031%5Fbsense01102026.pdf) | +13.0% | +19.4% | +6.4 | 82.2% | not yet scored | | 15 | [Canara Bank](https://nsearchives.nseindia.com/corporate/CANBK%5F01102026163240%5FLettertoSE01102026Revised.pdf) | +13.1% | +19.4% | +6.2 | 80.9% | 5.61 | | 16 | [South Indian Bank](https://nsearchives.nseindia.com/corporate/SOUTHBANK%5F01102026162929%5FSD%5FSTT%5FBUSINESSUPDATES%5FOCT012026.pdf) | +18.7% | +18.7% | \-0.0 | 79.8% | not yet scored | | 17 | [Union Bank of India](https://nsearchives.nseindia.com/corporate/UNIONBANK%5F01102026223208%5FProvFinancialResults30092026.pdf) | +6.9% | +18.5% | +11.7 | 87.6% | 5.65 | | 18 | [Bank of Baroda](https://nsearchives.nseindia.com/corporate/BANKBARODA%5F03102026173318%5FSEPROVISIONAL.pdf) | +16.8% | +18.3% | +1.5 | 86.4% | 5.30 | | 19 | [IDBI Bank](https://nsearchives.nseindia.com/corporate/MANESHJ%5F03102026175222%5FSE%5FProvisionalResults%5F30092026.pdf) | +17.2% | +17.9% | +0.7 | 76.4% | 5.25 | | 20 | [Indian Bank](https://nsearchives.nseindia.com/corporate/INDIANB%5F01102026182000%5FProvisional%5FBusiness%5FFiguresQ2%5F27.pdf) | +12.4% | +16.6% | +4.2 | 82.8% | 5.87 | | 21 | [Punjab National Bank](https://nsearchives.nseindia.com/corporate/pnb2%5F02102026192859%5FIntimation%5FProv%5FFig%5F02102026%5FDS.pdf) | +9.9% | +14.8% | +4.9 | 75.6% | 5.65 | | 22 | [Bandhan Bank](https://nsearchives.nseindia.com/corporate/BANDHANBNK%5F03102026194845%5FBandhan%5FBank%5FInitial%5FDisclosure%5F30092026%5Fsd.pdf) | +9.2% | +13.1% | +3.8 | 91.7% | 5.63 | Medians are our arithmetic across the 22 banks. The largest lenders, HDFC Bank, ICICI Bank, SBI, Axis and Kotak among them, had not filed by 3 October. ## Pattern 1: loans are outrunning deposits At 19 of the 22 banks, advances grew faster than deposits. The gap was widest at: - **Karnataka Bank:** loans +24.9%, deposits +12.0% (a 13.0-point gap). - **Union Bank of India:** loans +18.5%, deposits just +6.9% (11.7 points). - **UCO Bank** and **Equitas SFB:** both about 10.6 points. A bank can fund that for a while from liquidity it already holds. It can't do it forever without paying more for deposits or borrowing in bulk. ## Pattern 2: the cheap money is getting harder to keep Where banks disclosed CASA (the low-cost current and savings deposits), the share is slipping: - **Jammu & Kashmir Bank:** CASA ratio 42.01%, down 388 basis points in a year. - **Bandhan Bank:** 26.71%, from 29.40% three months earlier. - **Equitas SFB:** CASA balances fell 1.04% while total deposits grew 19%. - **Ujjivan SFB:** CASA ratio 26.0%, from 27.5% a year ago. AU Small Finance Bank was the exception: CASA grew 29.1% and its ratio edged up to 29.5%. ## Pattern 3: the small finance banks are running hottest Four of the top five by loan growth are small finance banks: Ujjivan (+32.1%), Equitas (+29.6%), AU (+27.9%) and ESAF (+25.1%). Tamilnad Mercantile (+29.4%) is the exception. They also carry some of the highest loans-to-deposits ratios on our arithmetic: Equitas 96.6% and Ujjivan 90.2%. ## Pattern 4: the big public sector banks are steadier **Bank of Baroda** (loans +18.3%, deposits +16.8%) and **Bank of India** (loans +20.4%, deposits +21.6%) kept the two closer together. **Punjab National Bank** grew loans 14.8% on deposits of 9.9%. ## Moat and margin **Focus moat: the low-cost deposit franchise.** A bank's most durable edge is cheap, sticky funding: savings accounts, salaries and current accounts that customers don't move for an extra quarter point. When loans grow faster than deposits for long, that franchise is what gets tested. The bank either pays up for deposits, which squeezes margins, or slows lending. Where we have them, the MoatSCOREs sit in a narrow band, from 5.25 (IDBI Bank) to 5.90 (AU Small Finance Bank), as published on the Moat Screener on 4 October 2026\. None has been re-scored for these updates. ## The bear case - **Funding cost.** A persistent gap means more expensive deposits, or bulk borrowing, in coming quarters. - **Falling CASA.** At four of the five banks that disclose it with a comparison, the cheap-deposit share is falling. - **Growth risk.** Loan books growing 25–30% a year, at several small finance banks, raise the question of asset quality. The business updates mostly don't address it. ## The case for - **Demand is there.** Loan growth in the high teens and twenties says borrowers are borrowing. - **Some banks are balanced.** Bank of India, AU and South Indian Bank grew deposits as fast as loans. - **Early data.** These are provisional updates; results will show margins and asset quality. ## What to watch 1. The 16 banks still to file, especially HDFC Bank, ICICI, SBI, Axis and Kotak. 2. Q2 net interest margins in the results: are funding costs rising? 3. CASA ratios at the banks that report them with the results. ## Sources Each bank's Q2 FY27 business update on NSE, linked in the table (filed 1–3 October 2026). MoatSCOREs: [Moat & Margin, Moat Screener](https://www.moatmarginresearch.com/moat-screener/) and [How MoatSCORE works](https://www.moatmarginresearch.com/moatscore/). Method: deposits and advances as filed; public sector banks on a global basis; Bandhan's loans include PTC, IDBI's are net, AU's are gross advances on book; "loans ÷ deposits" and the medians are our arithmetic. --- > Educational research, not investment advice. Every figure above is drawn from the named bank's own filing and checked against the source; growth rates match the banks' stated figures where given, and derived figures are our arithmetic. MoatSCOREs are as published on the Moat Screener. No buy/sell recommendations, no price targets, no share prices. Moat & Margin is not a SEBI-registered Research Analyst or Investment Adviser.