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BoM advances grow 29% to Rs 1.48 lakh crore in Q2 FY'23

Total advances of the bank stood at Rs 1,15,236 crore at the end of the September quarter of the previous year.

October 03, 2022 / 07:39 PM IST
Rs 150 crore | 2011 | Executives of Bank of Maharashtra, Oriental Bank of Commerce and IDBI created about 10,000 fictitious accounts, and an amount of Rs 150 crore worth of loans was transferred, a CBI investigation found. (Wikimedia Commons)

Rs 150 crore | 2011 | Executives of Bank of Maharashtra, Oriental Bank of Commerce and IDBI created about 10,000 fictitious accounts, and an amount of Rs 150 crore worth of loans was transferred, a CBI investigation found. (Wikimedia Commons)

Public sector lender Bank of Maharashtra (BoM) on Monday said its gross advances rose by 28.65 per cent to Rs 1,48,246 crore in the second quarter ended in September 2022. Total advances of the bank stood at Rs 1,15,236 crore at the end of the September quarter of the previous year.

During the quarter, total deposits grew by 7.86 per cent to Rs 1,95,849 crore from Rs 1,81,572 crore in the year-ago period, the bank said. Current account savings account (CASA) as a percentage of total deposits increased to 56.27 per cent from 53.91 per cent at the end of the second quarter of the previous year.

The total business of the Pune-based bank rose by 15.93 per cent to Rs 3,44,096 crore as of September, 2022 as against Rs 2,96,808 crore in the year ago period. Meanwhile, private sector lender Dhanlaxmi Bank said its gross advances rose by 30.74 per cent to Rs 9,114 crore at the end of September quarter, and its gross deposits increased by 12.8 per cent to Rs 12,734 crore.

The total business improved by 15.67 per cent to Rs 21,848 crore at the end of September, Dhanlaxmi Bank said a separate regulatory filing. Another private sector lender IDFC First Bank in a separate filing said, funded assets of the bank increased by 24.8 per cent to Rs 1,45,322 crore at the end of September 30, 2022.

The total deposits rose by 35.9 per cent to Rs 1,14,004 crore at the end of second quarter, it said.
PTI
first published: Oct 3, 2022 07:39 pm