PSU lender Bank of Maharashtra's net profit increased significantly, while the quality of its assets remained steady. Net Interest Income (NII) or core income for the lender, climbed by 19% on a year-on-year basis to ₹2,944 crore.
Additionally, the period's net profit rose 36% year over year to ₹1,406 crore. The state-run lender's asset quality did not change. Net NPA stayed at 0.2% from the September quarter, while Gross NPA increased from 1.84% to 1.8%.
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According to the Bank of Maharashtra's quarterly business update released earlier this month, deposits increased 13.5% year over year to ₹2.79 lakh crore. Nonetheless, the deposit growth was 1% on a sequential basis.
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Advances for the quarter reached ₹2.28 lakh crore, up 21.2% from the previous year. Additionally, the figure was 5.1% greater than the September quarter.
CASA deposits rose 11.5% year over year to ₹1.37 lakh crore, while the CASA ratio was 49.28%, up from 49.29% in September and 50.19% in the same quarter previous year. The state-run lender's credit-deposit ratio was 81.95% in December, up from 78.72% in June and 76.78% the previous year.
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