Bank of Maharashtra Q2 Business Update, Gross Advances stood at Rs 2.17 lakh crore, up by 15.46%

by Psu Connect
Date: 10-10-24

The bank's gross advances reached 2.17 lakh crore on September 30, 2024, showing a 15.46% increase from the same month last year when it was Rs 1.83 lakh crore.

Bank of Maharashtra has released its provisional business update for the second quarter. In terms of total deposits, the bank recorded 2.76 lakh crore, as of September 30, 2024, up from 2.39 lakh crore, the previous year.

The bank's gross advances reached 2.17 lakh crore on September 30, 2024, showing a 15.46% increase from the same month last year when it was Rs 1.83 lakh crore.

This indicates a year-on-year growth of 18.73%. As of September 30, 2024, the bank's total business reached Rs 4.94 lakh crore, reflecting a year-on-year growth of 16.88% from Rs 4.22 lakh crore reported on September 30, 2023.

This reflects a year-on-year (YoY) growth of 16.88% from Rs 4.22 lakh crore, reported on September 30, 2023.

Meanwhile, the bank's CASA (Current Account Savings Account) deposits also showed growth, rising to Rs 1.36 lakh crore, as of September 30, 2024, compared to Rs 1.21 lakh crore, on September 30, 2023, which corresponds to a year-on-year growth of 12.23%.

The CASA ratio, however, declined from 50.71% in September 2023 to 49.29% in September 2024. Additionally, the credit-deposit (CD) ratio improved from 76.52% in September 2023 to 78.69% in September 2024.