Bank of Maharashtra’s Gross Advances up 27% in Q4 FY22

MUMBAI:
Bank of Maharashtra (BoM) reported 27 per cent year-on-year (yoy) increase in gross advances in the fourth quarter ended March 31, 2022.

At the end of FY22, BoM’s gross advances rose to ₹1,36,733 crore from ₹1,07,654 crore in FY21, the Pune-headquartered public sector bank said in a business update. During the reporting quarter, gross advances were up by ₹7,727 crore.

In FY22, the bank’s deposits rose 16.46 per cent to ₹2,02,641 crore against ₹1,74,006 crore in FY21. During the reporting quarter, deposits jumped by ₹16,027 crore.

The proportion of low-cost current account, savings account (CASA) deposits in total deposits improved substantially to 57.93 per cent in the previous financial year from 53.99 per cent in FY21.