Bank of Maharashtra Reports Robust Growth in Credit and Deposits

The Bank of Maharashtra (BoM) reported a significant credit growth of 17.84% to Rs 2.40 lakh crore in the January-March quarter. Total deposits also rose by 13.45% to Rs 3.07 lakh crore. The bank's total business increased by 15.3% to Rs 5.47 lakh crore, with an improved CASA ratio.

State-owned Bank of Maharashtra (BoM) has achieved a notable credit growth of 17.84%, reaching Rs 2.40 lakh crore, during the January-March quarter, according to their latest filing. This marks a significant development from the Rs 2.03 lakh crore recorded at the conclusion of March 31, 2024.

The Pune-based bank also reported a 13.45% increase in total deposits, growing to Rs 3.07 lakh crore, compared to Rs 2.70 lakh crore at the close of last year's fourth quarter. Consequently, the bank's total business portfolio, encompassing both credit and deposits, experienced a 15.3% rise to Rs 5.47 lakh crore.

Furthermore, BoM noted an enhancement in its Current Accounts and Savings Accounts (CASA) ratio to 53.29% of total deposits, an improvement from the 52.73% recorded in the previous financial year. The credit-deposit ratio also saw growth, moving up to 78.14% in the current quarter from 75.22% over the same period last year.

(With inputs from agencies.)