Major Asian and African banks report strong nine-month financial results

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Several major financial institutions in India, Nigeria, and Pakistan have reported significant profit growth for the nine-month period ending September 30, 2026.

In India, Bank of India reported a 25% increase in Q2 net profit to ₹3,202 crore, while Kotak Mahindra Bank saw a 29% rise in standalone profit after tax to ₹4,212 crore. Kotak Mahindra's consolidated profit grew 26% to ₹5,645 crore, despite a slight compression in net interest margins due to foreign currency deposit mobilization. SBI Card also reported a 75% increase in Q2 profit after tax, reaching ₹778 crore.

In Nigeria, Stanbic IBTC Holdings Plc reported a 35.05% increase in group profit before tax, totaling ₦531.88 billion. Its subsidiaries, including Pension Managers and Asset Management, were primary contributors to this growth. First Holdco Plc also saw a substantial rise, with profit after tax increasing 65.11% to ₦744.45 billion, even as interest income declined.

In Pakistan, BankIslami reported a profit after tax of Rs3.1 billion for the nine months ended September 30, 2026, with total deposits reaching Rs630.7 billion.