Bank of Maharashtra Reports Robust Credit and Deposit Growth

Bank of Maharashtra reported significant growth in credit and deposits in the October-December quarter. Credit rose by 19.61% to Rs 2.73 lakh crore, driven by corporate and RAM advances. Deposits increased by 15.3% to Rs 3.22 lakh crore, boosting overall business by 17.24% to Rs 5.95 lakh crore.

In the October-December quarter, Bank of Maharashtra (BoM) achieved a notable credit growth of 19.61%, bringing the total to Rs 2.73 lakh crore.

The public sector bank, based in Pune, reported that its total deposits surged by 15.3% to Rs 3.22 lakh crore compared to the previous fiscal year's end.

With corporate credit and RAM (retail, agriculture, and MSME) advances contributing significantly to this expansion, BoM's total business reached Rs 5.95 lakh crore, marking a 17.24% increase year-on-year.

(With inputs from agencies.)