Bank of Maharashtra — Updates, 16-01-2025: Press Release

Total business for Bank of Maharashtra has shown a robust growth of 16.86% year-over-year, reaching ₹507,650 crore. Total deposits increased by 13.54% to ₹279,007 crore, while gross advances surged by 21.19% to ₹228,642 crore. Notably, the gross NPA has improved, declining to 1.80%, with a net NPA of just 0.20%. The bank's financial performance is solid, with net profit rising by 35.82% to ₹1,406 crore year-over-year, further showing a sequential growth of 6.01%.

Additionally, net interest income enhanced by 19.37% to ₹2,943 crore, and operating profit grew by 14.46% to ₹2,303 crore. The net interest margin improved to 3.98%, demonstrating effective management of interest resources. The return on assets and return on equity also improved to 1.78% and 22.36%, respectively, indicating strong overall profitability and efficient asset utilization. The bank's improved capital adequacy ratio of 18.71% and provision coverage of 98.28% signal a resilient balance sheet, positioning it favorably in the current market environment. Watch closely for further developments as these results reflect a positive outlook for the bank.