Bank of Maharashtra shares jump 5% on strong Q4 business update

The bank’s Current Account and Savings Account (CASA) deposits rose by 14.6 percent YoY and showed an impressive 19 percent increase when compared to the December quarter, bringing the total CASA amount to Rs 1.63 lakh crore.

The CASA ratio—a key metric for low-cost deposits—stood at 53.3 percent, which is higher than 52.7 percent reported in the same quarter of the previous year and significantly up from 49.3 percent in the preceding quarter.

The credit-deposit ratio for the quarter, as calculated by the bank, stood at 78.14 percent. This is an improvement over the 75.22 percent ratio recorded in the corresponding quarter of the previous year, although it represents a decline from the 81.95 percent level seen during the October to December period.

The provisional figures released by Bank of Maharashtra underscore the lender’s continued momentum in business growth and asset expansion.

Despite the recent jump in share price, the stock has had a challenging run over the past year. Over the last 12 months, shares of Bank of Maharashtra have declined by nearly 34 percent. The rally seen in April comes after a sustained stretch of five consecutive months of losses. However, even in April so far, the stock has slipped by 3 percent.

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