Bank of Maharashtra News

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Bank of Maharashtra Q2 results: Net profit up 44% on healthy NII growth

Expects net to cross Rs 5,000 cr for Fy25

Bank of Maharashtra Q2 results: Profit surges 44% to Rs 1,327 crore

State-owned Bank of Maharashtra (BoM) on Tuesday posted a 44 per cent jump in its profit at Rs 1,327 crore in the second quarter ended September 2024 on account of improvement in interest income. The Pune-based lender had posted a net profit of Rs 920 crore in the same quarter a year ago. Total income increased to Rs 6,809 crore during the quarter under review against Rs 5,736 crore in the same period last year, BoM said in a regulatory filing. Talking about the financial performance, BoM Managing Director Nidhu Saxena said Net Interest Margin (NIM) increased to 3.98 per cent, from 3.88 per cent in the same quarter a year ago. Among the stack of 12 public sector banks, BoM has the highest NIM, Saxena said, adding the target for the NIM for the current fiscal is 3.75-3.85 per cent anticipating a rate cut during the course of the year. He further said the bank expects the net profit of the bank to cross Rs 5,000 crore during the current fiscal. In the H1, the profit has crossed Rs

Bank of Maharashtra likely to issue maiden infra bonds to raise Rs 3,000 cr

Earlier this month, the bank had raised Rs 1,000 cr via Basel III compliant tier II bonds maturing in 10 years at a coupon of 7.89 per cent

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

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 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.