Shares of Bank of Maharashtra rose 6.3% to an intra-day high of Rs 56.10 after the company reported 17% year-on-year total business growth in Q3 FY25.
The bank’s total business grew to Rs 5.08 lakh crore in Q3 FY25, up from Rs 4.34 lakh crore in the same period of the previous year. Its gross advances increased to Rs 2.29 lakh crore, up by 21.2% on year, driven by robust credit demand. Total deposits grew by 13.5% on-year in Q3 FY25 to Rs 2.79 lakh crore from Rs 2.46 lakh crore in Q3 FY24.
The bank’s CASA ratio stood at 48.28%, down from 50.19% in the same quarter last year while it was 49.29% in the last quarter. The CASA ratio indicates the proportion of deposits in low-cost current and savings accounts.
Bank of Maharashtra’s Q2 performance
The bank posted a 44% jump in its profit at Rs 1,327 crore in Q2 FY25 on an improvement in interest income. The lender had posted a net profit of Rs 920 crore in the same quarter a year ago. Its total income grew to Rs 6,809 crore during the quarter, compared to Rs 5,736 crore in the same quarter a year ago. Net Interest Margin (NIM) rose to 3.98%, from 3.88% in the same period of the previous fiscal.
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Bank of Maharashtra Vs Nifty 50
The stock of the lender has risen 6.7% in the last five days. However, the stock has fallen 2% in the last one month and 12.4% in the past six months. The stock has increased more than 7% from year to date.
To compare, the benchmark index, Nifty 50 has risen 1.5% in the last five trading days. The index has wiped out 1.4% in the last one month and 0.68% in the past six months. However, the Nifty 50 has increased 2% from year to date.
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