Operating Profit of Bank of Maharashtra stood at Rs. 458.73 Crore for Quarter ending June 2016
Pune, August 12, 2016: Shri S. Muhnot, Chairman & Managing Director, Bank of Maharashtra announced the financial results for Q-1 ended 30.06.2016 along with Shri R. Athmaram & Shri R. K. Gupta, Executive Directors of the Bank.
- Total business increased to Rs.2,30,533 crore as on 30.06.2016 from Rs.2,19,032 crore as on 30.06.2015, registering a Y-o-Y growth of Rs.11,501 crore [5.25%].
- On Y-o-Y basis, gross advances increased by Rs. 6,783 crore [7.04%) to Rs.1,03,148 crore and total deposits increased by Rs.4,718 crore [3.85%] to Rs.1,27,385 crore as on 30.06.2016.
- CASA deposits increased by 12.88% Y-o-Y, with a growth of Rs.5,643 crore, to Rs.49,455 crore as on 30.06.2016 constituting 38.82% of total deposits.
- Cost of deposits has come down on Y-o-Y basis to 6.32% from 6.85%.
- Gross NPAs and Net NPAs stood at 12.64% [Rs.13,040 crore] and 8.73% [Rs.8,609 crore].
- During the quarter operating profit was Rs.458.73 crore as against Rs.609.77 crore for the quarter ended 30.06.2015.
- Net loss for the quarter stood at Rs.397.40 as against net profit of Rs.59.44 crore for the corresponding period of previous year.
- Other income increased by 40.52% Y-o-Y to Rs.288 crore from Rs.205 crore.
- Capital Adequacy Ratio under Basel III framework stood at 11.53% as on 30.06.2016 as compared to 11.61% as on 30.06.2015 and 11.20% as on 31.03.2016.