Page 6 - Bank Of Maharashtra

Nifty50: Uptrend likely once it breaches 19,700; support seen at 19,300

A level below 19,300 would be considered bearish sign in Nifty for the short term, says Vinay Rajani, senior technical and derivative research analyst at HDFC Securities

Buy Bank of India, Bank of Maharashtra: Vinay Rajani of HDFC Securities

On the broader market outlook, Vinay Rajani the technical & derivative analyst says that the Nifty could swing in the 19,783 - 19,567 range in the near term.

UCO Bank, Bank of Maharashtra without chairpersons since April 2015

State-run UCO Bank and Bank of Maharashtra are working without chairpersons since April 2015, the Lok Sabha was told on Monday. Bank of India, Central Bank of India, Indian Bank, and Indian Overseas Bank, also do not have chairpersons. The posts of chairpersons have been vacant in UCO Bank and Bank of Maharashtra since April 22, 2015, Minister of State for Finance Bhagwat Karad said in the Lok Sabha in a written reply. The top post in Indian Bank has been vacant since August 2018, while Bank of India is without a chairperson since August 2020, Indian Overseas Bank since February 2020, and Central Bank of India since May 2021. The country has 12 public sector banks (PSBs). The provision to separate posts of chairpersons and managing directors in PSBs was made in April 2015. Subsequently, non-executive chairpersons have been appointed in nine banks, the minister said. The government, which appoints chairpersons of state-owned banks, has constituted Financial Services Institutions

Stocks to watch: RIL, HUL, Infosys, Bank of Maha, L&T Finance, Tata Coffee

Stocks to watch on July 20, 2023: From Reliance Industries to Hindustan Unilever, check out the top stocks to watch in Thursday's trading session

Bank of Maharashtra plans to raise Rs 2,000 crore via AT1, Tier II bonds

Another equity offering on cards

Bank of Maharashtra Q1 net up 95.2% YoY at Rs 882 cr; NPA provisions fall

It made a provision of Rs 250 crore for any additional burden due to shifting to expected credit loss (ECL) for loan portfolio

Bank of Maharashtra Q1FY24 result: Net profit up 95% YoY to Rs 882 cr

Net Interest Income (NII) grew by 38.80% YoY to Rs 2,340 crore in Q1FY24 as against Rs 1,686 crore for Q1FY23

Bank of Maharashtra clocks credit growth of 25% at Rs 1.75 trn in June

State-owned Bank of Maharashtra (BoM) on Monday said it has posted a credit growth of 24.93 per cent at Rs 1.75 lakh crore in the June quarter. The outstanding credit was Rs 1.40 lakh crore at the end of June 30, 2022, BoM said in a regulatory filing. The Pune-headquartered lender registered a 24.82 per cent growth in total business (total advances and total deposits) to Rs 4.19 lakh crore at the end of June 2023 as against Rs 3.36 lakh crore at the end of the same quarter of previous fiscal. Total deposits of the bank increased by 24.73 per cent to Rs 2.44 lakh crore as against Rs 1.95 lakh crore at the end of the first quarter of the previous financial year. During the quarter, it said, the Current Account and Savings Account (CASA) ratio stood at 50.97 per cent of the total deposits. With regard to Credit Deposit (CD) ratio, it said, the number has increased to 71.86 per cent at the end of June 30, 2023 as against 71.75 per cent in the year-ago period. Gross investment of the

Banks post robust credit growth in Q1; deposit mobilisation improves

Bank of Maharashtra said its loans expanded by 25 per cent YoY to Rs.1.75 trillion. This pace was much higher than the banking system's 15.4 per cent growth till June 16, 2023, according to RBI

RBI imposes fine on Jammu and Kashmir Bank, Bank of Maharashtra, Axis Bank

The Reserve Bank on Friday said it has imposed a penalty of Rs 2.5 crore on Jammu and Kashmir Bank for non-compliance with certain directions, including one related to 'time-bound implementation and strengthening of SWIFT-related operational controls'. A penalty of Rs 1.45 crore has also been imposed on Bank of Maharashtra for non-compliance with certain directions issued by RBI on Loans and Advances Statutory and Other Restrictions' and Advisory on Man in the Middle (MiTM) Attacks in ATMs'. In another statement, the RBI said a penalty of Rs 30 lakh has been imposed on Axis Bank. The lender, it said had levied penal charges in certain accounts for late payment of credit card dues though the customers had paid the dues by the due date, through third-party platforms. The RBI, however, said penalities are based on deficiencies in regulatory compliance and not intended to pronounce upon the validity of any transaction or agreement entered into by the entities with their customers.

Bank of Maharashtra plans to recover 5% from written-off accounts in FY24

The Pune-based lender had recovered Rs 943 crore from written-off accounts in FY23, up from Rs 642 crore in FY22, according to the document filed Qualified Institutional Placement (QIP)

Bank of Maharashtra slips 7% as new shares allotted to QIBs get listed

The board of Bank of Maharashtra on Tuesday, June 6, 2023 allotted 350.88 million equity shares of Rs 10 each allotted to QIBs pursuant to QIP

State-owned BoM raises Rs 1,000 cr via qualified institutional placement

State-owned Bank of Maharashtra (BoM) on Wednesday said it has raised Rs 1,000 crore through Qualified Institutional Placement (QIP). The QIP opened on June 1 and closed on June 6, 2023. The board of the bank had approved the issuance of equity shares to Qualified Institutional Investors at the rate of Rs 28.50 per unit (with premium of Rs 18.50 per share), BoM said in a statement. The QIP was fully subscribed and received a strong response from domestic as well as foreign institutional investors, highlighting a well-diversified representation and demand from across the globe. The capital raised through QIP will not only strengthen capital adequacy ratio of the bank but also support growth, it said. It will also help meet minimum public shareholding (MPS) norms of market regulator Sebi. As per Sebi norms, listed entities are required to have at least 25 per cent public shareholding. Currently, the government of India holds a 90.97 per cent stake in the bank. The QIP will help b

Bank of Maharashtra emerges as top performer in NPA management during FY23

The Pune-based state-owned lender was followed by HDFC Bank with net NPA falling to 0.27 per cent and Kotak Mahindra Bank clinching the third spot with 0.37 per cent of net advances

Bank of Maharashtra tops PSU lenders chart in profit, loan growth in FY23

State-owned Bank of Maharashtra (BoM) has emerged as the top performer among public sector lenders in terms of loan and deposit growth in percentage terms during 2022-23. The Pune-headquartered lender also recorded highest growth in profitability with bottomline growing almost 126 per cent to Rs 2,602 crore during the year. However, all the 12 public sector banks together recorded 57 per cent jump in net profit at Rs 1,04,649 crore in FY23, according to published yearly numbers of public sector banks (PSBs). In terms of percentage increase in gross advances, BoM recorded 29.4 per cent jump in loans at Rs 1,75,120 crore as of March 2023. It was followed by Indian Overseas Bank and UCO Bank with 21.2 per cent and 20.6 per cent growth, respectively. However, in absolute terms, aggregate loans of the country's biggest lender SBI were nearly 16 times higher at Rs 27,76,802 crore. With regard to deposit growth, BoM witnessed 15.7 per cent rise and mobilised Rs 2,34,083 crore at the end

Mahabank Q3 net up 136.5% at Rs 840 cr, interest margins boost bottom-line

Public sector lender to raise capital up to Rs 7,500 cr; recommends dividend of 13% per share of Rs 10 each

Banks, Wipro lift indices in fag-end; Sensex up 401 pts, Nifty tops 17,700

CLOSING BELL: The gains in benchmark indices were led by HDFC Life (up 6.4 per cent), Wipro, ICICI Bank, Titan, Axis Bank, SBI, Hero MotoCorp, Grasim, and Adani Ports

Bank of Maharashtra reports more than double profit to Rs 840 cr in Q4

State-owned Bank of Maharashtra (BoM) on Monday reported a more than two-fold jump in its net profit to Rs 840 crore for the March quarter, helped by a decline in bad loans and a rise in interest income. The bank had earned a net profit of Rs 355 crore in the year-ago period. During the quarter, the bank's total income increased to Rs 5,317 crore as against Rs 3,949 crore a year ago, BoM said in a regulatory filing. Interest income grew to Rs 4,495 crore during the period under review, from Rs 3,426 crore in the corresponding quarter a year ago. The bank's board has recommended a dividend of Rs 1.30 per share or 13 per cent of Rs 10 face value out of the net profits for the year ended March 31, 2023. Gross Non-Performing Assets (NPAs) were reduced to 2.47 per cent of gross advances as of March 31, 2023 from 3.94 per cent by the end of March 2022. Net NPAs also came down to 0.25 per cent of the advances from 0.97 per cent at the end of 2022. The fall in bad loans ratio helped cut

Bank of Maharashtra Q4 net profit more than doubles to Rs 840 crore

Bank has announced a dividend of Rs 1.3 per share with a face value of Rs 10

IndusInd Bank to Persistent Systems: Q4 results to watch out for today

Tata Teleservices, Century Textiles & Industries, Tamilnad Mercantile Bank, Mahindra Logistics, IIFL Securities, Nelco, and Kshitij Investment are other companies that will declare Q4 results today