Bank of Maharashtra has posted a 35% increase in its net profit for the March Quarter at ₹2,014 crore over the year ago period on improved asset quality and total business.
Net Interest Income (NII) grew by 19% to ₹3,702 crore and net revenues improved by 13% from ₹4,097 crore. Net Interest Margin domestic stood at 3.91%.
Business growth
Total business grew by 17% to ₹6,42,531 crore, of which total deposits accounted for ₹3,50,564 crore an increase of 14%. Gross Advances grew by 22% ₹2,91,967 crore.
RAM (Retail, Agri. & MSME) business grew by 21%. Retail advances grew by 32% to ₹85,857 crore, MSME advances by 11% to ₹ 53,547 crore.
Asset quality improves
Gross non-performing asset (NPA) improved to 1.45% from 1.74 % and net NPA improved to 0.13 % from 0.18%. Provision Coverage ratio stood at 98.59% against 98.26%.
Capital and dividend
BoM had a capital adequacy of 18.36%.
The bank declared a final dividend of ₹1.20 per equity share for FY26.