Bank of Maharashtra has released a preliminary business update for the second quarter. In terms of total deposits, the bank recorded 2.76 billion as of September 30, 2024, up from 2.39 billion a year ago.
This means an increase of 15.46%.
Total advances as of September 30, 2024 stood at Rs 2,170 crore, compared to Rs 1,830 crore in the same month last year.
This represents a year-over-year growth of 18.73%.
As of September 30, 2024, the bank’s total business stood at Rs 4.94 billion.
This reflects a year-on-year (YoY) growth of 16.88% from Rs 4,220 crore reported on September 30, 2023.
The bank’s CASA (current account) deposits also showed an increase, increasing from Rs 1.21 billion as on September 30, 2023 to Rs 1.36 billion as on September 30, 2024. This is comparable to the same period last year. Growth of 12.23%.
However, the CASA ratio decreased from 50.71% in September 2023 to 49.29% in September 2024.
Furthermore, the credit deposit (CD) ratio improved from 76.52% in September 2023 to 78.69% in September 2024.
At the time of writing this report, Bank of Maharashtra share price was down 0.16% and was trading at ₹54.70 per share.
First Published: October 10, 2024 1:15 PM IST
