Bank of Maharashtra reports 23% increase in its loan book in Q3 FY21-2022

The public sector bank Rs 1.29 trillion as of December 31, 2021 (Q3FY22), as against Rs 1.04 million in the same quarter in the previous fiscal.

Government-owned Bank of Maharashtra reported 23.02 per cent growth year-on-year (YoY) in its loan book that rose to Rs 1.29 trillion as of in third quarter on December 31, 2021 (Q3F22), as against Rs 1.04 million in the same quarter in the previous fiscal.

According to data by the Reserve Bank of India (RBI), the company has posted a 7.3 per cent year-on-year growth in the mid of December 2021. The public sector lender’s deposits have expanded by 15.21 per cent from Rs 1.61 trillion in 2020 against Rs 1.86 trillion on December 31, 2021. The company also saw a sequential increase of 2.78 per cent in its bank deposits in September 2021, the bank said in a regulatory filing with BSE.

The public sector bank’s credit to deposit ratio also increased from 64.77 per cent in December 2020 to 69.15 per cent in December 2021. The bank also saw a sequential increment of 63.47 per cent in its deposits in September 2021.

Its current and savings accounts stand at around 55.05 per cent in December 2021 against 50.91 in the previous fiscal. The bank also saw an increment in its low-cost deposits – current and savings account money that went up by 53.91 per cent in September 2021.

The bank’s growth in investments was flat and sequentially have an increment of 11.9 per cent on a year-on-year basis at Rs 72, 328 in December 2021 against Rs 72,285 crore in September 2021.

 

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