Bank of Maharashtra clocks 18% loan growth in Q4; total business touches Rs 5.5 lakh crore

New Delhi: State-owned Bank of Maharashtra (BoM) on Tuesday said it has registered a credit growth of 17.84 per cent at Rs 2.40 lakh crore in January-March quarter.

The outstanding credit was Rs 2.03 lakh crore at the end of March 31, 2024, BoM said in a regulatory filing.

The Pune-headquartered lender reported a 13.45 per cent increase in total deposits to Rs 3.07 lakh crore in the reporting quarter as against Rs 2.70 lakh crore at the end of the fourth quarter of the previous financial year.

As a result, total business (total credit and deposits) of the bank registered an increase of 15.3 per cent to Rs 5.47 lakh crore as against Rs 4.74 lakh crore at the end of March 2024.

During the latest fourth quarter, it said, the Current Accounts and Savings Accounts (CASA) ratio improved to 53.29 per cent of the total deposits as against 52.73 per cent in the same period of the preceding financial year.

The credit-deposit ratio increased to 78.14 per cent in the fourth quarter as against 75.22 per cent in the year-ago period.