BANK OF MAHARASHTRA Date: 12thAugust2016
Operating Profit of Bank of Maharashtra stood at Rs. 458.73 Crore for Quarter ending June 2016Shri 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.
Head Office: "Lokmangal", 1501, Shivajinagar, Pune - 411005 website: www.bankofmaharashtra.co.in
Bank of Maharashtra published this content on 12 August 2016 and is solely responsible for the information contained herein.
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