BoM Q2 net profit doubles, writes-off Srei's Rs 550-cr exposure

The bank's asset quality profile showed an improvement with gross NPAs declining to 5.56%

Bank of Maharashtra (BoM) posted 102.7 per cent rise, on year-on-year (Y-o-Y) - in net profit at Rs 264 crore in second quarter ended September 2021 (Q2FY22) on robust interest and fee income. It had posted a net profit of Rs 130 crore in Q2FY21.

Its Net Interest Income (NII) grew by 33.84 per cent on Y-o-Y basis to Rs 1,500 crore in Q2FY22 as against Rs 1,120 crore for Q2FY21.

The non-Interest income was up 22.61 per cent (on  Y-o-Y basis) to Rs 493 crore in Q2FY22. This includes recoveries worth Rs 260 crore from exposure to housing finance