The Bank of Maharashtra has released its Q1 FY25 business update. Gross advances, total deposits, and deposits into CASAs (current accounts, savings accounts) all increased, according to the bank's exchange filing.
As of June 30, 2024, the bank's total deposits had increased by 9.44 per cent to Rs 2.67 lakh crore from Rs 2.44 lakh crore during the same period the previous year.
Gross advances increased by 19 per cent to Rs 2.09 lakh crore from Rs 1.75 lakh crore year over year.
CASA Depopsites
Deposits into Current Account Savings Accounts (CASAs) increased by 7.06 per cent to Rs 1.33 lakh crore this year from Rs 1.24 lakh crore the year before.With a slight decrease from 50.97 per cent YoY and 52.73 per cent quarter-over-quarter (QoQ), the CASA ratio was 49.86 per cent.
Bank of Maharashtra share price |
Q4 results (Jan- Mar)
As of the end of March 2024, BoM's Capital Adequacy Ratio (CAR) was 17.38 per cent, and its Common Equity Tier-1 (CET1) was 12.5 per cent.
The bank's managing director and CEO, Nidhu Saxena, stated that the current capital adequacy level allows it to comfortably support business during the current fiscal year.
From FY26 onward, the bank would require growth capital in addition to meeting regulatory requirements in order to maintain a minimum of 25 percent public ownership. Accordingly, by the end of March 2024, the government's stake is probably going to drop from 86.46 per cent.
Share Price
The shares of Bank of Maharashtra were trading around Rs 63 on July 5 2024; in previous session, they opened on Rs 64.09 and closed at Rs 63.58. A meager 0.26 per cent of fall recorded in the last trading session.
