Bank Of Maharashtra Sees 19% Growth In Credit During Q1
The Pune-headquartered lender also experienced a 9.44 per cent rise in total deposits, which now stand at Rs 2.67 lakh crore
State-owned Bank of Maharashtra (BoM) has reported a 19 per cent growth in credit for the April-June quarter, reaching Rs 2.09 lakh crore. This is an increase from Rs 1.75 lakh crore at the end of 30 June, 2023, as disclosed in the bank’s regulatory filing.
The Pune-headquartered lender also experienced a 9.44 per cent rise in total deposits, which now stand at Rs 2.67 lakh crore. This is a increase from the Rs 2.44 lakh crore recorded at the end of the first quarter of the previous financial year.
Despite these gains, the bank noted a slight decline in the proportion of Current Accounts and Savings Accounts (CASA), which fell to 49.86 per cent of total deposits from 50.97 per cent in the previous year.
Additionally, the Credit Deposit ratio improved, reaching 78.18 per cent at the end of 30 June 2024, compared to 71.89 per cent in the same period last year.
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