Bank of Maharashtra clocks 25% credit growth in June quarter

State-owned Bank of Maharashtra (BoM) on Monday said it has posted a credit growth of 24.93 per cent at Rs 1.75 lakh crore in the June quarter. The outstanding credit was Rs 1.40 lakh crore at the end of June 30, 2022, BoM said in a regulatory filing.

The Pune-headquartered lender registered a 24.82 per cent growth in total business (total advances and total deposits) to Rs 4.19 lakh crore at the end of June 2023 as against Rs 3.36 lakh crore at the end of the same quarter of previous fiscal.

Total deposits of the bank increased by 24.73 per cent to Rs 2.44 lakh crore as against Rs 1.95 lakh crore at the end of the first quarter of the previous financial year. During the quarter, it said, the Current Account and Savings Account (CASA) ratio stood at 50.97 per cent of the total deposits.

With regard to Credit Deposit (CD) ratio, it said, the number has increased to 71.86 per cent at the end of June 30, 2023 as against 71.75 per cent in the year-ago period. Gross investment of the bank stood at Rs 72,379 crore during the first quarter of the financial year 2023-24.

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