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Bank of Maharashtra announced Q4FY24 & FY24 results:
Q4FY24 Financial Highlights:
- Total Business grew by 15.94% to Rs 4,74,411 crore.
- Total Deposits increased by 15.66% to Rs 2,70,747 crore.
- Gross Advances increased by 16.30% to Rs 2,03,664 crore.
- Credit - Deposit (CD) Ratio improved to 75.22%.
- Gross NPA declined to 1.88% as on 31.03.2024.
- Net NPA reduced to 0.20% as on 31.03.2024.
- Provision Coverage Ratio improved to 98.34%.
- Operating profit grew by 19.10% to Rs 2,210 crore.
- Net Profit increased by 44.95% to Rs 1,218 crore as on 31.03.2024
- Net Interest Income increased by 18.17% to Rs 2,584 crore.
- Net Interest Margin (NIM) improved to 3.97% as on 31.03.2024.
- Cost to Income Ratio stood at 38.72%.
- Return on Assets (ROA) improved to 1.73%.
- Return on Equity (ROE) improved to 28.35%.
- CRAR stood at 17.38 % of which Tier I is 13.72%.
FY24 Financial Highlights:
- Net Profit increased by 55.84% to Rs 4,055 crore on YoY basis against Rs 2,602 crore for the year ended 31.03.2023.
- Operating Profit has shown a growth of 31.25% to Rs 8,005 crore on YoY basis against Rs 6,099 crore for the year ended 31.03.2023.
- Net Interest Income (NII) grew by 26.88% on YoY basis to Rs 9,822 crore for the year ended 31.03.2024 as against Rs 7,741 crore for the year ended 31.03.2023.
- Fee based income increased by 20.86% on YoY basis to Rs 1,582 crore for the year ended 31.03.2024.
- Cost to Income Ratio improved to 37.55% for the year ended 31.03.2024 as against 39.14% for the year ended 31.03.2023.
- Return on Assets (ROA) improved to 1.50% for the year ended 31.03.2024 against 1.10% for the year ended 31.03.2023.
- Return on Equity (ROE) also improved to 23.83% for the year ended 31.03.2024 against 20.38% for the year ended 31.03.2023
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