Bank of Maharashtra reports 19% loan growth in Q2

State-owned Bank of Maharashtra (BoM) on Thursday said it has posted a credit growth of 18.7 per cent at Rs 2.17 lakh crore in the second quarter of FY24.

Total advances were Rs 1.83 lakh crore at the end of September 30, 2023, BoM said in a regulatory filing.

The lender reported a 15.4 per cent increase in total deposits to Rs 2.76 lakh crore against Rs 2.39 lakh crore at the end of the second quarter of the previous financial year.

The bank's total business rose 16.8 per cent to Rs 4.93 lakh crore over Rs 4.22 lakh crore in the year-ago period.

Current Account and Savings Account (CASA) of the bank came down marginally to 49.2 per cent of the total deposits from 50.7 per cent a year ago.

However, its credit deposit ratio rose to 78.6 per cent compared to 76.5 per cent at the end of September 2023.