Bank of Maharashtra Reports 19% Loan Growth in Q1 FY24
Bank of Maharashtra (BoM) saw a significant 19% increase in credit in the April-June quarter, reaching Rs 2.09 lakh crore. The bank also reported a 9.44% rise in deposits.
Illustration: Uttam Ghosh/Rediff.com
New Delhi, Jul 4 (PTI) State-owned Bank of Maharashtra (BoM) on Friday reported a 19 per cent growth in credit to Rs 2.09 lakh crore for the April-June quarter.
The outstanding credit was Rs 1.75 lakh crore at the end of June 30, 2023, BoM said in a regulatory filing.
The Pune-headquartered lender reported a 9.44 per cent increase in total deposits to Rs 2.67 lakh crore as against Rs 2.44 lakh crore at the end of the first quarter of the previous financial year.
During the quarter, it said, Current Accounts and Savings Accounts declined to 49.86 per cent of the total deposits as against 50.97 per cent.
The Credit Deposit ratio increased to 78.18 per cent at the end of June 30, 2024, as against 71.89 per cent in the year-ago period.
The outstanding credit was Rs 1.75 lakh crore at the end of June 30, 2023, BoM said in a regulatory filing.
The Pune-headquartered lender reported a 9.44 per cent increase in total deposits to Rs 2.67 lakh crore as against Rs 2.44 lakh crore at the end of the first quarter of the previous financial year.
During the quarter, it said, Current Accounts and Savings Accounts declined to 49.86 per cent of the total deposits as against 50.97 per cent.
The Credit Deposit ratio increased to 78.18 per cent at the end of June 30, 2024, as against 71.89 per cent in the year-ago period.
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