scorecardresearch
Follow Us:
Wednesday, December 02, 2020

Bank of Maharashtra earns net profit of Rs 130 crore in second quarter

The net profit of the bank for the second quarter has grown by 13.44 per cent on a year-on-year basis to Rs 130 crore.

By: Express News Service | Pune | Updated: October 21, 2020 10:20:04 am
Bank of Maharashtra earns profit, Bank of Maharashtra second quarter profit, COvid crisis, Pune news, Maharashtra news, Indian express newsThe phase-wise unlocking has seen the bank improving both its business as well as recovery. (Photographer: Dhiraj Singh/Bloomberg)

The Pune-headquartered Bank of Maharashtra (BoM) has reported a healthy 12.53 per cent growth in business in the second quarter of the current financial year. The net profit of the bank for the second quarter has grown by 13.44 per cent on a year-on-year basis to Rs 130 crore.

The phase-wise unlocking has seen the bank improving both its business as well as recovery.

While addressing a press conference about the bank’s performance, A S Rajeev, MD and CEO of BoM, said total business of the bank has increased to Rs 2,62,034 crore, while total advances has increased to Rs 1,03,408 crore (13.13 per cent) and total deposits has increased to Rs 1,58,626 crore.

The bank’s net revenue (net interest income plus other income) grew by 6.98 per cent on a year-on-year basis and 7.9 per cent on sequential basis to Rs.1,572 crore.

The bank has reported a total business increase to Rs. 2,62,034 crore as on September 30, showing year-on-year growth of 12.53 per cent and 4.98 per cent on sequential basis, while net advances have grown by 21.31 per cent to Rs 97,511 crore on year-on-year basis.

The net non-performing asset of the bank has declined to 3.3 per cent as on September 30, as against 5.48 per cent on the same date last year.

📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines

For all the latest Pune News, download Indian Express App.

Advertisement
Advertisement
Advertisement
Advertisement