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Bank of Maharashtra logs 19 pc loan growth in Apr-Jun

BNE News Desk , July 4, 2024
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New Delhi: The Bank of Maharashtra, which is owned by the state, announced a 19% increase in credit to Rs 2.09 lakh crore for the April-June quarter on Friday.

BoM stated in a regulatory filing that the exceptional credit totaled Rs 1.75 lakh crore as of June 30, 2023.

The bank based in Pune saw a 9.44 percent rise in total deposits to Rs 2.67 lakh crore compared to Rs 2.44 lakh crore in the same period last fiscal year.

It was noted that Current Accounts and Savings Accounts decreased to 49.86% of total deposits from 50.97% during the quarter. The Credit Deposit ratio rose to 78.18 per cent by June 30, 2024, compared to 71.89 per cent in the previous year. 

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