Bank of Maharashtra Q3 business update: Gross advances surge 21.2% on-year

Bank of Maharashtra reported its third-quarter business update for FY25, with total business rising 16.9% year-on-year to ₹5.08 lakh crore, up from ₹4.34 lakh crore in the previous year.

Gross advances rose by 21.2% to ₹2.29 lakh crore, driven by robust credit demand. Total deposits climbed 13.5% year-on-year to ₹2.79 lakh crore from ₹2.46 lakh crore.

The CASA ratio, which reflects the share of low-cost current and savings account deposits, stood at 48.28%, down from 50.19% in the same quarter last year and 49.29% in the preceding quarter.

Also read: PNB Q3 business update: Deposits and advances rise 14% each

The bank’s credit-deposit ratio improved to 81.95% from 76.78% a year ago.

For the July-September quarter, Bank of Maharashtra reported a 15% year-on-year growth in Net Interest Income (NII), which stood at ₹2,806.8 crore compared to ₹2,432 crore in the same period last year.

Net profit for the quarter surged by 44% to ₹1,326 crore, up from ₹919 crore in the corresponding quarter of FY24.

Also read: Bank of Maharashtra Q2 Results: Net profit rises 44%, asset quality stable

Shares of Bank of Maharashtra ended flat at ₹52.77 on the Bombay Stock Exchange, up 0.30% on Thursday.