The largest PSU lender in terms of loans and deposits in Q1 is Bank of Maharashtra

According to public sector banks’ reported quarterly data, the institution with its headquarters in Pune saw a 27.10% increase in gross advances at the end of June 2022, reaching Rs 1,40,561 crore (PSBs).

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In terms of percentage increase for loans and deposits in the first quarter of 2022–2023, Bank of Maharashtra (BoM) outperformed all other public sector lenders.

According to public sector banks’ reported quarterly data, the institution with its headquarters in Pune saw a 27.10% increase in gross advances at the end of June 2022, reaching Rs 1,40,561 crore (PSBs).

The Indian Overseas Bank and Bank of Baroda came in second and third, respectively, with advances growth increases of 16.43% and 15.73%.

The largest lender in the nation, State Bank of India (SBI), took fourth place with a 13.66% rise. However, when measured in absolute terms, SBI’s total loans were about 17 times more than BoM’s at Rs 24,50,821 crore, and Bank of Baroda’s total loans were about five times higher at Rs 6,95,493 crore.

At the end of June 2022, BoM mobilised Rs 1,95,909 crore and saw a growth in deposits of 12.35 percent.

According to the report, Bank of Baroda came in second with a 9.42% increase in deposits (Rs 9,92,517 crore), followed by Union Bank of India with an 8.41% increase (Rs 9,09,095 crore).

A steady drop in bad loans helped public sector banks make more money during the June quarter, and the trend may have a beneficial impact on their balance sheets going forward.

In terms of gross and net non-performing assets (NPAs), BoM and SBI fell into the lowest percentile, according to an examination of the public sector lenders’ quarterly financial reports.

All 12 public sector banks collectively reported a profit of roughly Rs 15,306 crore for the three months that ended in June, representing an increase of 9.2% annually. Leading public sector lenders SBI and PNB, meanwhile, reported reduced profits for the quarter ending in June.

State-owned banks made a total profit of Rs 14,013 crore from April through June of the previous fiscal.

At the end of June, the net NPAs for these banks were 0.88 percent and 1%, respectively. According to the analysis, the gross non-performing assets (NPAs) reported by BoM and SBI in the first quarter of the current fiscal were 3.74 percent and 3.91 percent, respectively, of their total advances.

Other public sector lenders’ gross non-performing assets ranged from 6.26 to 14.90 percent. Gross non-performing assets (NPAs) for the Bank of Baroda in the June quarter were 6.26%, while those for the Central Bank of India, which is still subject to the Reserve Bank of India’s Prompt Corrective Action (PCA) framework, were 14.90%.