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.
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