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Bank of Maharashtra aims for 20-22% credit growth
January 17, 2023
The lender on Monday reported a two-fold jump in its standalone profit after tax (PAT) at ₹775 cror in Q3FY23 from ₹325 crore in Q3FY22. Gross NPAs declined to 2.94% of total advances compared with 4.73% in the year-ago quarter. Total income increased to ₹4,770 crore in the latest December quarter from ₹3,893 crore in the year-ago period. At the same time, net NPAs eased below 1% to 0.47%, as against 1.24% in the same period a year ago.
We are growing at a very good rate, a reasonable rate and we are also ahead of the curve. We started the outreach from the first week of May 2022 just after the annual result on 28th of April. It is not only the credit growth, I would say it is the quality of the asset as well.
One of the good things in the outreach programme is the trust and belief and loyalty of Bank of Maharashtra customers. Typically, my CASA is in the range of 50% to 54%, which is the average and that is the real good base of the customer which Bank of Maharashtra is having.
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