The largest public sector bank in India, Bank Of Maharashtra, saw a growth in total business of 21.33% to Rs 4,09,202 crore for FY23 compared to Rs 3,37,534 crore for FY22. On Monday afternoon, the bank submitted its quarterly financial information to the stock exchange.

The Bank of Maharshatra has had annual increase in its total business, total deposits, gross advances, operational profit, net profit, net interest income, and return on assets, according to the ensuing filings about its performance. Its gross nonperforming asset (GNPA) and net nonperforming asset (NNPA) both decreased.

Total Business grew by 21.23 % to ₹ 4,09,202 crore, total deposits increased by 15.71 % to ₹ 2,34,083 crore, gross advances increased by 29.49 % to ₹ 1,75,120 crore, et Profit increased by 136.48 % to ₹ 840 crore as on March 31, 2023, operating profit grew by 57.36 % to Rs. 1,855 crore and net interest income was up 35.66 % to Rs. 2,187 crore.

Additionally, credit deposit (CD) ratio improved to 74.81 %, cost to income ratio came at 38.34 %. Even the return on Assets (ROA) improved to 1.32 % for Q4 FY23 along return on quity (ROE) at 26.32 % and capital adequacy ratio at 18.14% of which Tier I is 14.25%.

Further the net interest margin expanded by 3.78 %, with decline in GNPA at 2.47% and NNPA at 0.25% over last year same period.

Total current account savings account ratio inched down to 53.38% over last year’s 57.85%. RAM (Retail, Agri. & MSME) Business grew by 24.06 % on Y-o-Y basis. Retail advances grew by
22.61 % to ₹ 43,433 crore on Y-o-Y basis. MSME advances grew by 26.50 % on Y-o-Y basis to ₹
33,244 crore.

The latest market price of Bank of Maharashtra stock closed at Rs 30.08 per share, it was up by 8.16% over previous day’s closing. Its 52-week high is at Rs 36.25 per share and 52-week low is at Rs 15 per share.