Bank of Maharashtra emerges leader among PSBs in deposit mobilisation in Q3
Mumbai-based Bank of Baroda was at the second spot with a 12.86 per cent growth at Rs 3,88,169 crore at the end of December 2021.In terms of asset quality improvement, gross non-performing assets NPAs of BoM was at 4.73 per cent of the total advances, the second best after SBI at 4.5 per cent, during the December quarter.
By : migrator
Update: 2022-02-13 12:33 GMT
New Delhi
Bank of Maharashtra (BoM) has become a top performer among public sector banks (PSBs) in terms of growth in deposit mobilization in the third quarter ended in December 2021, according to an analysis.
The Pune-headquartered lender recorded a 15.21 percent increase in total deposits at Rs 1,86,614 crore in the October-December period of 2021-22, according to the data published by the bank.
An analysis of data disclosed by various lenders for the third quarter showed that BoM was followed by Punjab & Sind Bank which posted a 10.87 percent growth in total advances with aggregate loans at Rs 1,00,351 crore.
When it came to savings deposit mobilization, BoM recorded an 18.33 percent growth at Rs 80,815 crore. It was followed by the Bank of Baroda which reported a 12.36 percent rise at Rs 3,22,909 crore and State Bank of India. SBI posted an increase of 10.30 percent.
However, in absolute terms, SBI's savings deposit base was 18 times higher at Rs 14,73,506 crore as against BoM's Rs 80,815 crore.
Current deposits during the third quarter witnessed a growth rate of 54.86 percent to Rs 21,917 crore followed by Canara Bank at 16.37 percent to Rs 49,529 crore.
The Current Account and Savings Account (CASA) of the Bank of Maharashtra increased by 24.60 percent to Rs 1,02,732 crore.
Mumbai-based Bank of Baroda was at the second spot with a 12.86 percent growth at Rs 3,88,169 crore at the end of December 2021.
In terms of asset quality improvement, gross non-performing assets (NPAs) of BoM was at 4.73 percent of the total advances, the second-best after SBI at 4.5 percent, during the December quarter.
Concerning net NPA, BoM was better at 1.24 percent while that of SBI was 1.34 percent during the quarter under review.
For the third quarter ended December, BoM's standalone net profit more than doubled to Rs 325 crore as against Rs 154 crore in the same period a year ago. Its total income climbed to Rs 3,893 crore from Rs 3,582 crore in the year-ago period.
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