Bank of Maharashtra Q4 update

6 Apr 2023 , 07:15 AM

The government-owned Bank of Maharashtra (BoM) said on Wednesday that credit growth for the March quarter was 29.59%, or Rs1.75 lakh crore. At the end of March 31, 2022, the outstanding credit was Rs1.35 lakh crore, according to BoM’s regulatory filing.

The lender, which has its headquarters in Pune, saw a 21.28 growth in total business to pass the Rs 4 lakh crore mark. The overall business (total advances and total deposits) increased from Rs3.37 lakh crore at the end of the previous fiscal year to Rs4.09 lakh crore at the end of March 2023.

The bank’s total deposits rose 15.7% to Rs2.34 lakh crore from Rs2.02 lakh crore at the end of the previous fiscal year’s fourth quarter.

According to the report, the Current Account and Savings Account (CASA) accounted for 53.39% of all deposits throughout the quarter.

According to the statement, the Credit Deposit (CD) ratio increased from 66.85% at the end of the previous year to 74.87% as of March 31, 2023.

The bank’s total investment during the fourth quarter of the fiscal year 2022–23 was Rs 69,215.

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