Bank of Maharashtra's loan disbursal increases y-o-y by 28.65% in September quarter

4 Oct 2022 , 09:14 AM

Bank of Maharashtra (BoM), a public sector lender, said on Monday that for the second quarter that ended in September 2022, its gross advances increased by 28.65 %, to Rs1,48,246 crore. By the conclusion of the third quarter in September of the previous year, the bank’s total advances were worth Rs1,15,236 crore.

The overall amount of deposits increased during the quarter by 7.86% to Rs1,95,849 crore from Rs1,81,572 crore in the same quarter last year, the bank reported. As a proportion of all deposits, the current account savings account (CASA) climbed from 53.91 % at the end of the second quarter of the previous year to 56.27 % at the end of the third quarter.

As of September 2022, the Pune-based bank’s overall revenue increased by 15.93% to Rs3,44,096 crore from Rs2,96,808 crore during the same period the previous year. Private sector lender Dhanlaxmi Bank said that at the end of the September quarter, total advances had expanded by 30.74% to Rs9,114 crore and gross deposits had grown by 12.8% to Rs12,734 crore.

At the end of September, the total business increased by 15.67% to Rs21,848 crore, according to a separate regulatory filing from Dhanlaxmi Bank. The financed assets of IDFC First Bank, a different private sector lender, surged by 24.8% to Rs1,45,322 crore at the end of September 30, 2022, according to a separate filing.

At the conclusion of the second quarter, it was reported that the total amount of deposits had increased by 35.9% to Rs1,14,004 crore.

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