Bank of Maharashtra has posted impressive growth across its key financial metrics for the quarter ending September 2024. The bank’s total business reached ₹493.71 crore, reflecting a significant year-on-year increase of 16.88%. This growth highlights the bank’s consistent focus on expanding its operations and strengthening its customer base.
Deposits saw a healthy rise of 15.46%, reaching ₹276.29 crore by the end of the quarter, indicating strong customer confidence in the bank’s deposit products. Meanwhile, advances witnessed robust growth, rising by 18.73% to ₹217.42 crore, showcasing the bank’s increasing focus on lending activities.
One of the standout metrics for Bank of Maharashtra is its CASA (Current Account Savings Account) ratio, which stands at 49.29%. A high CASA ratio is crucial for banks as it reflects a larger share of low-cost deposits, helping to improve margins and profitability.
The bank’s Credit-Deposit (CD) ratio also improved slightly to 78.69%, compared to 78.17% in the previous quarter, indicating better utilization of deposits for lending purposes. This improvement points to the bank’s efficient management of resources and increased lending activity in response to demand from various sectors.
Overall, the strong growth in total business, deposits, and advances underscores Bank of Maharashtra’s steady performance in the banking sector. The bank continues to build on its strengths, offering a broad range of services to its customers, while maintaining a focus on both growth and profitability.
