Feb 17, 2017 08:50 PM IST | Source: PTI

BoM expects break even in Q4, 10 pc credit growth in FY'18

PTI,Bank of Maharashtra,signs of improvement,break even in the Q4,credit growth

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The Bank of Maharashtra (BoM) today indicated signs of improvement and said it expects break even in the Q4 period ending in March.

"We are expecting continuous improvement in our results. Against a loss of Rs 183 crore in the Q3 period, we expect break even in Q4," BoM Managing Director and CEO R P Marathe said here today during an interactive session with the MCC Chamber of Commerce and Industry.

"In Q1, the bank's loss was Rs 387 crore and in Q2 the loss was Rs 330 crore. But fresh NPA levels have reduced from Rs 2,900 crore in Q1 to Rs 1,700 crore in Q3," Marathe said.

The bank was aiming ten percent credit growth in FY'18 over FY'17, the BoM MD said adding, in the Q4 of FY'17, total credit lending level would be flat at 1.8 lakh crore.

Speaking about merger of the public sector banks, Marathe favoured the idea for operational efficiency and regulatory control of the government.

"This is a matter of owner's (government) decision," he said.

The bank has received Rs 15,000 crore and withdrawal was Rs 6,000 crore during the demonetisation exercise.

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