Bank Of Maharashtra Share Price Target Forecast 2022, 2023, 2025, 2030

16 November 2021

In terms of retail growth, Bank of Maharashtra leads the list of PSU lenders in Q2.

According to the quarterly results statistics, the state-owned Bank of Maharashtra (BoM) was the best performer among public sector lenders in terms of loan and savings deposit growth during the second quarter of the current fiscal.

According to public statistics from the Bank of Maharashtra, the Pune-based lender increased gross advances by 11.46 percent to Rs 1,15,236 crore in the July-September 2021-22 period.

According to the bank’s quarterly results statistics, Punjab and Sind Bank recorded a 9.53 percent increase in advances, with total loans of Rs 67,574 crore at the end of September 2021.

The bank had the greatest growth rate of 14.24 percent in the RAM (Retail, Agriculture, and MSME) category, with Rs 70,515 crore.

When it comes to deposit growth, BoM trailed Punjab and Sind Bank by a bit, with a 14.47 percent increase, compared to 9.69 percent for SBI, the country’s largest lender.

However, SBI’s deposit base was 20 times larger than BoM’s, at Rs 36.90 lakh crore vs Rs 1.81 lakh crore.

During the quarter, BoM’s current account, savings account (CASA) climbed by 22%, the largest among public sector lenders.

Casa accounted for 54% of the bank’s total liabilities, or Rs 97,889 crore, as a consequence.

At the end of September 2021, BoM’s entire business had grown by 13.27 percent to Rs 2.97 lakh crore.

BoM’s standalone net profit more than doubled to Rs 264 crore in the second quarter, compared to Rs 130 crore a year ago.

After making full provisioning, the bank wrote down bad loans of Rs 1,100 crore during the quarter, including exposure of Rs 550 crore to two credit financing businesses. The Reserve Bank of India has filed a bankruptcy petition against Shrey Infrastructure Finance and Equipment Leasing Company.

The bank’s asset quality improved dramatically, with gross non-performing assets (NPAs) accounting for 5.56 percent of gross advances at the end of September 2021, compared to 8.81 percent at the conclusion of the previous fiscal’s second quarter. , was.

Net nonperforming assets (NPAs) fell to 1.73 percent from 3.30 percent at the end of the previous fiscal quarter, while the provision coverage ratio increased to 92.38 percent from 87.15 percent.

EconomicsTimes.com is the source for this information.


21 OCTOBER 2021

In the September quarter, the Bank of Maharashtra’s net profit more than doubled to Rs 264 crore.

The state-owned Bank of Maharashtra recorded a more than two-fold increase in its consolidated net profit for the second quarter ended September, at Rs 264 crore.

In the previous financial year’s same quarter, the bank had a net profit of Rs 130.44 crore.

The bank’s overall income increased to Rs 3,700.44 crore in July-September from Rs 3,270.07 crore the previous year, according to a regulatory filing by Bank of Maharashtra.

As of September 30, 2021, the bank’s asset quality improved, with gross non-performing assets (NPAs) falling to 5.56 percent of gross loans, down from 8.81 percent the previous year.

Net nonperforming assets (Bad Loans) fell from 3.30 percent to 1.73 percent.

Gross nonperforming assets (NPAs) dropped to Rs 6,403.17 crore from Rs 9,105.44 crore in absolute terms.

Net nonperforming assets (NPAs) fell to Rs 1,910.31 crore from Rs 3,219.90 crore.

However, for the September 2021 quarter, the lender set aside a greater sum of Rs 515.60 crore as provision for bad loans and contingencies, compared to Rs 371.65 crore the previous quarter.

On the BSE, Bank of Maharashtra’s stock was trading at Rs 21.95, up 4.77 percent from the previous close.

Moneycontrol.com is the source for this information.


8 October, 2021

Maharashtra Bank has launched a digital lending platform for housing and vehicle loans.

The Bank of Maharashtra, a state-owned corporation, announced on Friday that it has created a digital lending platform for its house and vehicle loan clients.

The platform will allow potential retail loan applicants to apply for loans digitally through a paperless procedure at their convenience and at their preferred time, according to the bank.

The platform can validate the applicant’s KYC, CIBIL, and financial information, as well as provide in-principle approval in a timely way.

The key goal, according to AS Rajeev, Managing Director and CEO of Bank of Maharashtra, is to deliver superior customer experience and financing via digitalization.

To help its customers during the holiday season, the bank has abolished processing fees on housing and auto loans.

Business-Standard.com is the source for this information.


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