Bank of Maharashtra has reported a significant surge in its financial performance for the quarter and nine months ending December 31, 2024, marking a period of robust growth and improved profitability.
Key Highlights for Q3 FY2024-25:
- Total Business: Increased by 16.86% year-over-year (YoY) to ₹507,650 crore.
- Total Deposits: Rose by 13.54% YoY, reaching ₹279,007 crore.
- Gross Advances: Surged by 21.19% YoY to ₹228,642 crore, contributing to a Credit-Deposit Ratio of 81.95%.
- Net Profit: Showed a remarkable increase of 35.82% YoY, amounting to ₹1,406 crore.
- Operating Profit: Grew by 14.46% YoY to ₹2,303 crore.
- Net Interest Income (NII): Climbed by 19.37% YoY, standing at ₹2,943 crore.
Improved Financial Metrics:
- Gross Non-Performing Assets (NPA): Reduced to 1.80% from 2.04% in the previous year.
- Net NPA: Declined to 0.20% from 0.22%.
- Provision Coverage Ratio: Maintained a strong level at 98.28%.
- Net Interest Margin (NIM): Enhanced to 3.98%.
- Cost to Income Ratio: Stood at 38.27%, a slight increase from 36.04% in Q3 FY2023-24.
- Return on Assets (ROA): Improved to 1.78%.
- Return on Equity (ROE): Noted at 22.36%.
Year-to-Date Performance: For the nine months ending December 31, 2024, the bank’s Net Profit escalated by 41.92% YoY to ₹4,027 crore. The Operating Profit for the same period rose by 17.32% to ₹6,799 crore, while NII increased by 18.12% to ₹8,549 crore.
Asset Quality and Capital Adequacy:
- Gross NPA: Dropped to 1.80%, reflecting improved asset quality.
- Capital Adequacy Ratio (CRAR): Strengthened to 18.71%, with Tier-I at 14.70%.
The Bank of Maharashtra’s results underscore a period of significant financial strength and operational efficiency. The bank continues to build on its robust performance, focusing on sustainable growth and enhanced shareholder value. Further details and insights are available in the investor presentation on the bank’s official website.
