Bank of Maharashtra's loan book grows 23% to 1.29 trn in Dec quarter

Public sector lender Bank of Maharashtra posted 23.02 per cent growth year-on-year (yoy) in its loan book at Rs 1.29 trillion as of December 31, 2021 (Q3FY22) against Rs 1.04 trillion a year ago. Sequentially, its advances rose by 12 per cent from Rs 1.15 trillion in September 2020 (Q2FY22).

Commercial banks in India as a group have posted 7.3 per cent yoy growth till the middle of December 2021, according to Reserve Bank of India (RBI) data.

Pune-based bank’s deposits expanded by 15.21 per cent to Rs 1.86 trillion as of December 31, 2021 from Rs 1.61 trillion a year ago and sequentially 2.78 per cent from Rs 1.81 trillion in September 2021, bank said in filing with BSE.

The lender's credit to deposit ratio rose to 69.15 per cent in December 2021 from 64.77 per cent in December 2020 and 63.47 per cent in September 2021.

The share of low cost deposits – current account and savings account (CASA) - stood at around 55.05 per cent in December 2021 up from 50.91 per cent in December 2020. Sequentially, the share of CASA money went up from 53.91 per cent in September 2021.

The growth in investments was 11.9 per cent yoy at Rs 72,328 crore in December 2021 and almost flat sequentially from Rs 72,285 crore in September 2021.