Bank of Maharashtra Q2 gross advances climb 19% YoY

The public sector bank said that its gross advances jumped 18.73% to Rs 2,17,426 crore as of 30 September 2024 as against Rs 1,83,122 crore as of 30 September 2023.

Sequentially, the gross advances gained 14.15% in the September quarter from Rs 2,09,031 crore as of 30 June 2024.

Bank of Maharashtra reported a 15.46% growth in total deposit to Rs 2,76,291 crore as of 30 September 2024 as against Rs 2,39,298 crore as of 30 September 2023 and 11.75% grew from Rs 2,67,416 crore as on 30 June 2024.

The bank's total business as on 30 September 2024 was at Rs 4,93,717 crore, registering a growth of 16.88% year on year (YoY) and 3.62% quarter on quarter (QoQ).

 

CASA deposits stood at Rs 1,36,179 crore as on 30 September 2024 (up 12.23% YoY and up 2.13% QoQ).

CASA ratio reduced to 49.29% as of 30 September 2024 from 50.71% as of 30 September 2023 and 49.86% as of 30 June 2024.

Bank of Maharashtra is a public sector bank in India. The Government of India held 79.60% stake in the bank as of 30 September 2024.

The banks standalone net profit jumped 46.64% to Rs 1,293.49 crore on 24.93% increased in total income to Rs 6,768.76 crore in Q1 FY25 over Q1 FY24.The PSU bank's operating profit stood at Rs 2,294.60 crore, registering a growth of 23.13% on YoY basis.

Shares of Bank of Maharashtra shed 0.20% to Rs 54.68 on the BSE.

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