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Bank of Maharashtra has booked a net loss of Rs 119.84 crore in Q4 2016 against a net profit of Rs 112.72 crore in the same period of last year on account of higher provisioning for NPAs.
The Pune-based bank’s total income in the quarter ended March 31, 2016 also declined marginally to Rs 3,567 crore versus Rs 35,99 crore in Q4 2015.
For the entire 2016 fiscal, the bank’s net profit also saw a fall of Rs. 100.69 crore in comparison to Rs 450.69 crore in the same period previous fiscal. Total income however, stood marginally higher at Rs 14,072 crore against 13,671 crore in the previous year.
S Muhnot, CMD of the bank, said that gross NPAs and net NPAs stood at 9.34 per cent and 6.35 per cent, respectively. The slippages were mainly in steel, power and infrastructure sector. The stressed accounts portfolio declined to 13.29 per cent from 13.47 per cent during the financial year.
Business level
On the brighter side, the bank achieved a business level of Rs. 2,50,000 crore during the year.
Total business increased by Rs 26,901 crore (12.05 per cent) on YoY basis. Gross advances have gone up by 9.91 per cent (Rs 10,030 crore), while CASA deposits have grown by 12.52 per cent with a rise of Rs 5,670 crore to a level of Rs 50,967 crore constituting 36.68 per cent of total deposits.
Cost of Deposits has been reduced on Y-o-Y basis from 7.03 per cent to 6.75 per cent.
Investment credit to agriculture increased from Rs 3,694 crore to Rs. 5,527 crore, registering a growth of 49.62 per cent.
Loans to small and marginal farmers increased from Rs. 7,017 crore to Rs 8,335 crore (18.18 per cent) and it formed 7.9 per cent of ANBC against the requirement of 7 per cent.
Net Interest Income (NII) for the year remained flat due to increase in NPAs and reduction in base rate by 55 basis points.
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