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In its business update for the quarter shared earlier this month, Bank of Maharashtra‘s deposits grew 13.5% on a year-on-year basis to ₹2.79 lakh crore. However, on a sequential basis, the deposit growth was 1%.
Advances for the quarter grew by 21.2% from last year to ₹2.28 lakh crore. The number was also 5.1% higher than the September quarter.
CASA deposits increased by 11.5% on a year-on-year basis to ₹1.37 lakh crore, while CASA ratio stood at 49.28% from 50.19% during the same quarter last year and 49.29% in September.
Credit-deposit ratio for the state-run lender stood at 81.95% in December from 76.78% last year and 78.72% in June.
Bank of Maharashtra shares had seen a sharp surge on Tuesday after CNBC-TV18 had reported citing sources that the government has approved a QIP plan worth ₹2,000 crore each for five state-run lenders, which included Bank of Maharashtra as well.
As of December, the government owned 79.6% stake in Bank of Maharashtra, which is 4.6% higher than the minimum shareholding norms. Based on Tuesday’s closing price, the excess stake of the government in the lender was valued at over ₹1,800 crore.
Shares of Bank of Maharashtra are currently off the lows of the day but still trading 3.4% lower at ₹50.93. The stock has corrected 31% from its peak of ₹73.
First Published: Jan 15, 2025 10:51 AM IST
