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Bank of Maharashtra

Banks to equity fundraise Rs 40,000 crore in H2FY25 to boost balance sheets

State-run banks Punjab National Bank and Bank of Maharashtra are leading the fundraising with both seeking Rs 7,500 crore each

Banks to equity fundraise Rs 40,000 crore in H2FY25 to boost balance sheets
Updated On : 16 Jul 2024 | 11:09 AM IST

BoM Q1 results: Net up 46.64% to Rs 1,293 cr on healthy NII growth

Mulls to raise upto Rs 10,000 crore through Infrastructure bonds

BoM Q1 results: Net up 46.64% to Rs 1,293 cr on healthy NII growth
Updated On : 15 Jul 2024 | 8:25 PM IST

Bank of Maharashtra's net profit surge over 46% in Q1FY25; stock jumps 7%

The share price gained after the public sector bank on Monday reported a 46.6 per cent year-on-year rise in profit after tax (PAT)

Bank of Maharashtra's net profit surge over 46% in Q1FY25; stock jumps 7%
Updated On : 15 Jul 2024 | 2:41 PM IST

Bank of Maharashtra records 19% growth in credit for April-June quarter

State-owned Bank of Maharashtra (BoM) on Friday reported a 19 per cent growth in credit to Rs 2.09 lakh crore for the April-June quarter. The outstanding credit was Rs 1.75 lakh crore at the end of June 30, 2023, BoM said in a regulatory filing. The Pune-headquartered lender reported a 9.44 per cent increase in total deposits to Rs 2.67 lakh crore as against Rs 2.44 lakh crore at the end of the first quarter of the previous financial year. During the quarter, it said, Current Accounts and Savings Accounts declined to 49.86 per cent of the total deposits as against 50.97 per cent. The Credit Deposit ratio increased to 78.18 per cent at the end of June 30, 2024, as against 71.89 per cent in the year-ago period.

Bank of Maharashtra records 19% growth in credit for April-June quarter
Updated On : 04 Jul 2024 | 5:09 PM IST

Bank of Maharashtra launches VKYC for remote account opening; check details

To ensure a smooth experience, have your Aadhaar number, PAN card soft copy, linked mobile number, and signature ready

Bank of Maharashtra launches VKYC for remote account opening; check details
Updated On : 01 Jul 2024 | 10:59 AM IST

Bullish on PSU Banks, CPSE stocks? UCO Bank, SJVN look strong on charts

Stock market outlook on Nifty PSU Banks, Nifty CPSE stocks: Technical chart suggests up to 22 per cent upside for UCO Bank, SJVN, NHPC and Bank of Maharashtra; here's why.

Bullish on PSU Banks, CPSE stocks? UCO Bank, SJVN look strong on charts
Updated On : 29 May 2024 | 9:57 AM IST

Bank of Maharashtra tops among PSU lenders in business growth in FY24

State-owned Bank of Maharashtra recorded the highest growth rate last fiscal in terms of total business and deposit mobilisation among public sector lenders at a time when most banks are facing difficulty in achieving double-digit growth. The Pune-headquartered lender has registered a 15.94 per cent rise in the total business (domestic) in FY24, followed by the country's largest lender State Bank of India (SBI) with 13.12 per cent growth, according to published financial numbers of the public sector banks (PSBs). However, SBI's total business (deposit and advances) was about 16.7 times higher at Rs 79,52,784 crore compared to Rs 4,74,411 crore of Bank of Maharashtra (BoM) in absolute terms. Similarly, BoM continued to maintain its top spot in terms of growth in deposit mobilisation, with a 15.66 per cent rise in FY24. It was followed by SBI (11.07 per cent), Bank of India (11.05 per cent) and Canara Bank (10.98 per cent). Out of 12 public sector banks, only these four lenders could

Bank of Maharashtra tops among PSU lenders in business growth in FY24
Updated On : 19 May 2024 | 1:52 PM IST

Bank of Maharashtra Q4 results: Net profit up 45% at Rs 1,218 crore

Public sector lender mulls Rs 7,500 crore equity capital raise

Bank of Maharashtra Q4 results: Net profit up 45% at Rs 1,218 crore
Updated On : 26 Apr 2024 | 9:47 PM IST

Bank of Maharashtra Q4 profit jumps 45% to Rs 1,218 cr, bad loans decline

State-owned Bank of Maharashtra (BoM) on Friday reported a 45 per cent jump in its net profit to Rs 1,218 crore for the March quarter, helped by a decline in bad loans and a rise in interest income. The Pune-based lender had earned a net profit of Rs 840 crore in the year-ago period. During the quarter, the bank's total income increased to Rs 6,488 crore as against Rs 5,317 crore a year ago, BoM said in a regulatory filing. Interest income grew to Rs 5,467 crore during the period under review, from Rs 4,495 crore in the corresponding quarter a year ago. The bank's board has recommended a dividend of Rs 1.40 per share or 14 per cent of Rs 10 face value out of the net profits for the year ended March 31, 2024. On the asset quality side, the bank's Gross Non-Performing Assets (NPAs) were reduced to 1.88 per cent of gross advances as of March 31, 2024, from 2.47 per cent by the end of March 2023. Net NPAs also came down to 0.20 per cent of the advances from 0.25 per cent at the end o

Bank of Maharashtra Q4 profit jumps 45% to Rs 1,218 cr, bad loans decline
Updated On : 26 Apr 2024 | 2:32 PM IST

Bank of Maharashtra reports 16% credit growth in Q4 at Rs 2.03 trn

State-owned Bank of Maharashtra (BoM) on Friday said it has posted a credit growth of 16.31 per cent at Rs 2.03 lakh crore for the March quarter. The outstanding credit was Rs 1.75 lakh crore at the end of March 31, 2023, BoM said in a regulatory filing. The Pune-headquartered lender reported 15.63 per cent increase in total deposits to Rs 2.70 lakh crore as against Rs 2.34 lakh crore at the end of the fourth quarter of the previous financial year. During the quarter, it said, Current Account and Savings Account (CASA) declined to 52.73 per cent of the total deposits as against 53.39 per cent. The Credit Deposit (CD) ratio increased to 75.23 per cent at the end of March 31, 2024 as against 74.87 per cent in the year-ago period.

Bank of Maharashtra reports 16% credit growth in Q4 at Rs 2.03 trn
Updated On : 05 Apr 2024 | 2:41 PM IST

5 PSU banks to reduce govt shareholding to meet Sebi's MPS norms: DFS Secy

Five public sector lenders, including Bank of Maharashtra, IOB and UCO Bank are planning to reduce government stake to less than 75 per cent to comply with Sebi's minimum public shareholding (MPS) norms, Financial Services Secretary Vivek Joshi has said. Out of 12 public sector banks (PSBs), four were complying with MPS norms as on March 31, 2023. "As part of an ongoing effort, three more PSBs have complied with minimum 25 per cent public float during the current financial year. Remaining five PSBs have laid out action plans to meet MPS requirement," he told PTI in an interaction. Currently, government holding in Delhi-based Punjab & Sind Bank is 98.25 per cent. It is followed by Chennai-based Indian Overseas Bank at 96.38 per cent, UCO Bank 95.39 per cent, Central Bank of India 93.08 per cent, Bank of Maharashtra at 86.46 per cent. As per the Securities and Exchange Board of India (Sebi), all listed companies must maintain an MPS of 25 per cent. However, the regulator had given .

5 PSU banks to reduce govt shareholding to meet Sebi's MPS norms: DFS Secy
Updated On : 14 Mar 2024 | 3:43 PM IST

BoM records highest growth in deposit mobilisation among PSU banks in Q3

Bank of Maharashtra (BoM) has recorded the highest growth rate in terms of deposit mobilisation among public sector lenders at a time when most lenders are facing difficulty in achieving double-digit growth. Out of 12 public sector banks, only BoM and State Bank of India (SBI) could log a double-digit growth in deposits in the third quarter ended December 2023. The Pune-based lender BoM reported a 17.89 per cent growth in deposits followed by SBI at 12.84 per cent during the quarter, according to published quarterly numbers of the public sector banks (PSBs). However, SBI's total deposits were about 18.5 times higher at Rs 45,67,927 crore, as compared to Rs 2,45,734 crore of BoM in absolute terms. Central Bank of India was the third by clocking a 9.53 per cent growth in deposits while Punjab National Bank recorded a 9.10 per cent increase. In terms of low-cost CASA deposits, BoM continued to top the chart with 50.19 per cent followed by Central Bank of India with 48.98 per cent. H

BoM records highest growth in deposit mobilisation among PSU banks in Q3
Updated On : 04 Feb 2024 | 3:28 PM IST

Nifty forms dark cloud cover pattern; NCC, Maha Bank buy calls for Jan 31

Nifty has formed a bearish Dark cloud cover pattern on daily charts. It could now face resistance at 21,813 while 21,429 could offer support

Nifty forms dark cloud cover pattern; NCC, Maha Bank buy calls for Jan 31
Updated On : 31 Jan 2024 | 7:17 AM IST

Bank of Maharashtra Q3 net up 34 % at Rs 1,036 cr, slows corporate lending

State-owned lender says it has increased share of loans in retail, agriculture and MSME segments

Bank of Maharashtra Q3 net up 34 % at Rs 1,036 cr, slows corporate lending
Updated On : 16 Jan 2024 | 8:09 PM IST

Bank of Maharashtra Q3 results: Profit jumps 34% to Rs 1,036 crore

State-owned Bank of Maharashtra (BoM) on Tuesday posted a 34 per cent rise in net profit to Rs 1,036 crore in the third quarter ended December 2023 due to improvement in interest income and a decline in bad loans. The Pune-based lender had posted a net profit of Rs 775 crore in the same quarter a year ago. Its total income increased to Rs 5,851 crore during the quarter under review against Rs 4,770 crore in the same period last year. Speaking about quarterly numbers BoM managing director AS Rajeev said the net interest income (NII) grew by 24.56 per cent to Rs 2,466 crore against Rs 1,980 crore in the year-ago period. The bank earned an interest income of Rs 5,171 crore during the quarter compared to Rs 4,129 crore a year ago. Rajeev further said operating profit has shown a growth of 27.32 per cent to Rs 2,012 crore from Rs 1,580 crore in Q3 FY23. The bank was able to reduce gross non-performing assets (NPAs) to 2.04 per cent of the gross loans by the end of December 2023 from 2

Bank of Maharashtra Q3 results: Profit jumps 34% to Rs 1,036 crore
Updated On : 16 Jan 2024 | 6:19 PM IST

Bank of Maharashtra's profit jumps 34% to Rs 1,036 cr, NPAs down to 0.22%

State-owned Bank of Maharashtra (BoM) on Tuesday posted a 34 per cent rise in its profit at Rs 1,036 crore in the third quarter ended December 2023. The Pune-based lender had posted a net profit of Rs 775 crore in the same quarter a year ago. Total income increased to Rs 5,851 crore during the quarter under review against Rs 4,770 crore in the same period last year, BoM said in a regulatory filing. The bank earned an interest income of Rs 5,171 crore during the quarter compared to Rs 4,129 crore in the same period a year ago. The bank was able to reduce gross Non-Performing Assets (NPAs) to 2.04 per cent of the gross loans by the end of December 2023 from 2.94 per cent a year ago. Similarly, net NPAs or bad loans came down to 0.22 per cent from 0.47 per cent at the end of the third quarter of the previous fiscal.

Bank of Maharashtra's profit jumps 34% to Rs 1,036 cr, NPAs down to 0.22%
Updated On : 16 Jan 2024 | 12:34 PM IST

Bank of Maharashtra slashes home loan rate on new year by 15 bps to 8.35%

State-owned Bank of Maharashtra (BoM) on Wednesday trimmed its home loan rate by 15 basis points to 8.35 per cent as part of its new year offer to customers. The processing fees are also waived on home loans, BoM said in a statement. This dual benefit of reduced interest rates and waiver of processing fees in home loans is a testament of bank's commitment to offer best financing solutions to all its valued customers and help them fulfil their needs, it said. In the current high-interest rate landscape, bank is making retail loans cheaper to bring in cheer among customers, it said. By introducing this offer, bank is offering one of the lowest interest rates in the banking industry for home loans, it said, adding, the bank has already waived processing fees for home, car and retail gold loans under its 'New Year Dhamaka offer'.

Bank of Maharashtra slashes home loan rate on new year by 15 bps to 8.35%
Updated On : 03 Jan 2024 | 4:07 PM IST

Q3 FY24 report card: Bank CASA continues to remain under pressure

According to provisional data, the CASA ratio of South Indian Bank dropped to 31.79 per cent from 33.83 per cent in the same quarter of the financial year 2022-23

Q3 FY24 report card: Bank CASA continues to remain under pressure
Updated On : 02 Jan 2024 | 10:54 PM IST

State-owned PNB, BoM record double-digit loan growth during Oct-Dec quarter

State-owned Punjab National Bank (PNB) on Tuesday said it has posted a 13.5 per cent growth in advances to Rs 9.72 lakh crore for the December quarter. Total advances stood at Rs 8.56 lakh crore at the end of the third quarter of the last financial year, PNB said in a regulatory filing. Another public sector lender Bank of Maharashtra (BoM) in a separate filing said it saw a 20.28 per cent increase in loan growth to Rs 1.88 lakh crore as against Rs 1.56 lakh crore in the third quarter of the previous fiscal. The Pune-based lender recorded a 17.90 per cent improvement in deposit growth at Rs 2.45 lakh crore as compared to Rs 2.08 lakh crore at the end of December 2022. At the same time PNB's deposits rose a tad lower at 9.4 per cent to Rs 13.23 lakh crore during the quarter from Rs 12.10 lakh crore in the year-ago period, it said. As a result, the total business of the bank increased 11.1 per cent to Rs 22.95 lakh crore at the end of December 31, 2023, it added.

State-owned PNB, BoM record double-digit loan growth during Oct-Dec quarter
Updated On : 02 Jan 2024 | 10:04 PM IST

Bank of Maharashtra raises Rs 259 cr at 7.99% through tier-II bonds

The issue had a base size of Rs 250 crore and a greenshoe option of Rs 750 crore

Bank of Maharashtra raises Rs 259 cr at 7.99% through tier-II bonds
Updated On : 13 Dec 2023 | 6:26 PM IST