State-owned Bank of Maharashtra (BoM) on Tuesday (January 2) said for the third quarter of FY24, the bank's total business reached ₹4.35 lakh crore, marking a 19% increase compared to the year-ago period.
Total deposits for the quarter stood at ₹2.46 lakh crore, reflecting an 18% year-on-year (YoY) rise from ₹2.08 lakh crore, the bank said in a regulatory filing.
While the CASA (current account savings account) percentage dipped slightly from 52.50% to 50.19% YoY, the bank maintained a healthy CASA deposit of ₹1.23 lakh crore in Q3, showing a 12.70% growth from ₹1.09 lakh crore in the corresponding period in the last fiscal.
Bank of Maharashtra posted a 72% jump in net profit at ₹920 crore for the September quarter, aided by a decline in bad loans and a rise in interest income. The lender had reported a standalone profit of ₹535 crore in the year-ago period.
The total income increased to ₹5,796 crore in Q2 against ₹4,317 crore in the same period last year. The bank earned interest income of ₹5,068 crore during the second quarter, compared to ₹3,815 crore in the same period a year ago. Net interest income (NII) grew by 28.88% ₹2,432 crore in Q2FY23 against Rs 1,887 crore in the same period a year ago.
Shares of Bank of Maharashtra Ltd ended at ₹45.44, down by ₹0.25, or 0.55%, on the BSE.
(Edited by : Shoma Bhattacharjee)
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