Bank of Maharashtra Q1 gross advances climb 19% YoY
The public sector bank said that its gross advances jumped 19.01% to Rs 2,09,065 crore as of 30 June 2024 as against Rs 1,75,676 crore as of 30 June 2023.
Sequentially, the gross advances rose 2.65% in the June quarter from Rs 2,03,664 crore as of 31 March 2024.
Bank of Maharashtra reported a 9.44% growth in total deposit to Rs 2,67,423 crore as of 30 June 2024 as against Rs 2,44,365 crore as of 31 June 2023 and 1.23% fall from Rs 2,70,747 crore as on 31 March 2024.
The bank's total business as on 30 June 2024 was at Rs 4,76,488 crore, registering a growth of 13.44% year on year (YoY) and 0.44% quarter on quarter (QoQ).
CASA deposits stood at Rs 1,33,341 crore as on 30 June 2024 (up 7.06% YoY and down 6.60% QoQ).
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CASA ratio reduced to 49.86% as of 30 June 2024 from 50.97% as of 30 June 2023 and 52.73% as of 31 March 2024.
Bank of Maharashtra is a public sector bank in India. The Government of India held 86.46% stake in the bank as of 31 March 2024.
The banks standalone net profit jumped 44.95% to Rs 1,217.67 crore on 22.02% increase in total income to Rs 6,488.25 crore in Q4 FY24 over Q4 FY23.
The scrip fell 0.33% to currently trade at Rs 63.62 on the BSE.
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First Published: Jul 04 2024 | 3:41 PM IST