Page 10 - Bank Of Maharashtra

BoM tops PSU banks chart in terms of loan, saving deposit growth in Q1

State-owned Bank of Maharashtra (BoM) has emerged as the top performer among public sector lenders in terms of loan and savings deposit growth during the first quarter of the current financial year. The Pune-headquartered lender recorded 14.46 per cent increase in gross advances at Rs 1,10,592 lakh crore in April-June period of 2021-22, as per the published data of BoM. It was followed by Punjab & Sind Bank which posted 10.13 per cent growth in advances with aggregate loans at Rs 67,933 crore at the end of June 2021. When it came to deposit mobilisation, BoM with nearly 14 per cent growth was a notch behind Punjab and Sind Bank, while the country's largest lender State Bank of India recorded 8.82 per cent rise. However, in absolute terms SBI's deposit base was 21 times higher at Rs 37.20 lakh crore as against Rs 1.74 lakh crore of BoM. Current Account Savings Account (CASA) for BoM saw 22 per cent rise, the highest among the public sector lenders, during the quarter. As a result,

Govt banks continue to have truncated boards, 10 don't even have a chairman

Meeting quorum of board sub-committees becomes difficult sometimes, say bankers

Finance Ministry suggests extending terms of CEOs, EDs at state-owned banks

Leaders of Punjab National Bank, UCO Bank and Bank of Maharashtra likely to get more time at their jobs.

Bank of Maharashtra Q1 net doubles to Rs 208 cr, major improvement in NPAs

NII up 29% in Q1FY22 to Rs 1,406 crore; NIM rises to 3.05% from 2.43% a year ago

Bank of Maharashtra closes QIP, raises about Rs 404 crore from issue

State-owned Bank of Maharashtra on Friday closed its qualified institutional placement (QIP) in which it raised about Rs 404 crore by allotting over 17 crore shares to eligible investors.

Bank of Maharashtra fixes floor price at Rs 24.89 per share for QIP

State-run Bank of Maharashtra (BoM) on Tuesday said the board has fixed floor price of Rs 24.89 per share for the proposed Rs 2,000 crore qualified institutional placement (QIP).

Bank of Maharashtra tops PSU bank chart in MSME loan growth in FY21

State-owned Bank of Maharashtra (BoM) has become top performer among public sector lenders in terms of retail and MSME loan growth during 2020-21. The Pune-based lender recorded a 35 per cent growth in MSME loans at Rs 23,133 crore in 2020-21, according to the BoM data. It was followed by the Chennai-based Indian Bank which posted a 15.22 per cent growth in loan disbursal to MSMEs with aggregate loans at Rs 70,180 crore at the end of March 2021. When it came to loans to retail, BoM with nearly 25.61 per cent growth was ahead of even the country's largest lender State Bank of India, which recorded 16.47 per cent rise. However, in absolute terms SBI's asset base to retail segment was a whopping 30 times higher at Rs 8.70 lakh crore as against Rs 28,651 crore of BoM. Bank of Baroda increased its retail loan portfolio by 14.35 per cent to Rs 1.20 lakh crore during the last fiscal year, the data showed. For the full year 2020-21, BoM's standalone net profit jumped nearly 42 per cent

Bank of Maharashtra plans to raise up to Rs 2,000 cr through QIP

State-run Bank of Maharashtra is looking to raise up to Rs 2,000 crore through qualified institutional placement (QIP) route before July-end, its Managing Director and CEO A S Rajeev said. In April this year, the Pune-based lender had received board approval to raise Rs 5,000 crore by way of QIP/rights issue/ preferential issue or by issuing Basel III bonds. "We are planning to raise around Rs 2,000 crore equity through QIP immediately. The process has already started and we will raise it before July-end, Rajeev told PTI in an interaction. The base size of the issue is Rs 1,000 crore and it has a greenshoe option of another Rs 1,000 crore, he said. Following this equity raise, the government's holding in the bank will reduce to below 85 per cent from 94 per cent currently, and the capital adequacy ratio will improve to 17-18 per cent from around 14.49 per cent as of March 31, 2021, Rajeev said. This fund will be deployed for expansion of the loan book, which the bank is looking to

Bank of Maharashtra net profit jumps to Rs 165 cr in March quarter

This was mainly due to a decline in gross NPAs

Bank of Maharashtra soars 20% as over 3 million shares change hands on BSE

The stock witnessed a breakout on the upside on February 15 after news agency Reuters reported that the bank could be one of the four PSBs which the government may privatise in FY22

Fresh curbs imposed in Maha may impact festive season auto sales: Icra

The fresh restrictions imposed in Maharashtra to contain the second wave of COVID-19 are likely to impact the festive season auto sales, as Navaratri and Gudi Padwa are falling in April, according to rating agency Icra. These two festivals account for a sizeable chunk of the annual vehicle sales across the country, especially in Maharashtra, it said. Gudi Padwa, which is a major festival of Maharashtra, will be celebrated on April 13, while Navrarati will also begin on the same day. The Maharashtra government earlier this week announced a slew of restrictions, including night curfews and weekend lockdowns to curtail the rapid spread of the pandemic. The state government has imposed stricter restrictions to curb the rapid spread of COVID-19 infections. Automobile dealerships, which are also covered under Shops & Establishment Act might have to remain shut till April 30, Icra vice president Ashish Modani said in a statement on Friday. "Festive periods like Navratri and Gudi-Padwa ..

PSU Bank stocks rally on report govt may soon approve privatisation roadmap

At the bourses, shares of Bank of Maharashtra skyrocketed 15.3 per cent on the National Stock Exchange (NSE), Indian Overseas Bank surged 12 per cent, and Central Bank of India jumped 10 per cent.

Bank stocks rally post Supreme Court verdict in loan moratorium case

The SC said that no direction can be issued to the government or RBI to announce any particular financial packages or reliefs

Nifty PSU Bank index up 47% in Feb on improved earnings, privatisation buzz

Indian Overseas Bank, Central Bank of India, Bank of Maharashtra, Bank of India, and Punjab & Sind Bank have seen their share price zoom between 53 per cent and 80 per cent in the last week

Size, branch reach make Bank of India an attractive privatisation candidate

First to exit PCA in 2019, the bank's efforts to better its asset quality is yielding results

Privatisation hope lifts Nifty PSB index 5%; BoI, IOB gain 40% in 2 days

Finance Minister Nirmala Sitharaman proposed to divest stake in two PSBs while unveiling Budget 2021 proposals

PSBs jump on privatisation buzz; Bank of Maharashtra, IOB hit upper circuit

In February so far (till Monday), the Nifty PSU Bank index has rallied 16.4 per cent as compared to a 7.2 per cent gain in the benchmark Nifty50

Bank of Maharashtra ties up with LoanTap Credit for co-lending to MSMEs

State-owned Bank of Maharashtra on Monday said it has entered into a co-lending agreement with the Pune-based non-banking financial company LoanTap Credit Products, for MSME loans.

Bank of Maharashtra third quarter profit rises 14% to Rs 154 crore

The bank was helped by a decline in bad loans

Bank of Maharashtra raises Rs 200 crore under tier II bond programme

The coupon offered on the bond was 7.75 per cent