Team Blitz India
MUMBAI: Bank of Maharashtra’s gross advances jumped 16.31 per cent to Rs 2,03,677 crore this year against Rs 1,75,120 crore last year. The advances in fourth quarter were up 7.95 per cent from Rs 1,88,670 crore in the third quarter.
The public sector bank reported a 15.65 per cent growth in total deposits to Rs 2,70,727 crore as of 31 March against Rs 2,34,083 crore last year and 10.17 per cent increase from Rs 2,45,734 crore in the third quarter.
The bank’s total business last year was at Rs 4,74,405 crore, registering a growth of 15.93 per cent year on year and 9.20 per cent quarter on quarter.
The Government of India held 86.46 per cent stake in the bank as of December 31, 2023. The bank’s consolidated net profit stood at Rs 1,038.40 crore in the third quarter against Rs 776.81 crore in the same period last year. Total income was at Rs 5851.55 crore in third quarter, registering a growth of 22.7 per cent year-on-year.
