Yes Bank, South Indian Bank, Bank of Maharashtra stocks rise up to 5% on strong Q3 business performance

Yes Bank, South Indian Bank, Bank of Maharashtra stocks rise up to 5% on strong Q3 business performance

Shares of Yes Bank, South Indian Bank, Bank of Maharashtra rose up to 5% on January 3 as the lenders posted strong business performance in the third quarter.

Yes Bank reported nearly 15% YoY jump in deposits in December quarter at Rs 2.77 lakh crore. The Mumbai-based lender's loans and advances rose 13% to Rs 2.45 lakh crore.

At 12:30 pm on January 3, Yes Bank's shares were trading 2.3% higher at Rs 20.04 apiece.

Meanwhile, Bank of Maharashtra said its gross advances rose 21% on a yearly basis to Rs 2.29 lakh crore in the October-December quarter.

In December quarter, the lender said its total business rose 17% to Rs 5.07 lakh crore and its total deposits increased 13.5% to Rs 2.79 crore on an annual basis.

At 12:35 pm on January 3, Bank of Maharashtra shares were trading 5% higher at Rs 55.5 apiece.

Also, South Indian Bank reported 11.94% increase in gross advances for Q3FY24, reaching Rs 86,965 crore. Its total deposits grew by 6.28% YoY.

At 12:40 pm on January 3, South Indian Bank's shares were trading nearly 4% higher at Rs 26.69 apiece.