Money & Banking

Bank of Maharashtra’s total business up 14% YoY in Q1

Our Bureau Mumbai | Updated on July 06, 2021

Advances grow 14% to ₹1,10,444 crore; deposits rise 14% to ₹1,74,377 crore

Bank of Maharashtra on Tuesday said its total business (advances plus deposits) have grown 14.11 per cent year-on-year (YoY) in the first quarter to ₹2,84,821 crore as at June-end 2021 against ₹2,49,608 crore as at June-end 2020.

As at June-end 2021, gross advances were up 14.31 per cent YoY to ₹1,10,444 crore (₹96,621 crore as at June-end 2020), as per the provisional figures disclosed by the public sector bank to the exchanges.

Deposits rose 13.98 per cent YoY to ₹1,74,377 crore (₹1,52,987 crore).

Within deposits, low-cost current account, savings account (CASA) deposits increased 21.98 per cent YoY to ₹92,489 crore (₹75,824 crore).

The proportion of CASA deposits in total deposits increased to 53.04 per cent (49.56 per cent).

Credit-deposit ratio improved to 63.34 per cent from 63.16 per cent).

Gross investment, however, came down 3.96 per cent YoY to ₹72,821 crore (₹75,824 crore).

Quarter-on-quarter

The bank’s gross advances and deposits increased by 2.59 per cent and 0.21 per cent QoQ, respectively, in the reporting quarter. Total business was up 1.12 per cent QoQ.

CASA deposits came down 1.56 per cent QoQ. Gross investment rose 6.08 per cent per cent QoQ.

Published on July 06, 2021

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