State-owned Bank of Maharashtra (BoM) has emerged as the highest performer amongst public sector lenders by way of mortgage and deposit development in proportion phrases throughout 2021-22. The Pune-headquartered lender recorded a 26 per cent improve in gross advances at Rs 1,35,240 crore on the finish of March 2022, in keeping with the BoM knowledge.
It was adopted by State Bank of India and Union Bank of India with 10.27 per cent and 9.66 per cent development, respectively.
However, in absolute phrases, mixture loans of SBI had been almost 18 occasions increased at Rs 24,06,761 crore whereas Union Bank of India’s 5 occasions increased at Rs 6,99,269 crore in comparison with that of BoM’s on the finish of fourth quarter.
With regard to deposit development, BoM witnessed a 16.26 per cent development and mobilised Rs 2,02,294 crore on the finish of March 2022. Union Bank of India was second with an 11.99 per cent development in deposits (Rs 10,32,102 crore) whereas Indian Bank recorded a ten per cent improve at Rs 5,84,661 crore, in keeping with the printed knowledge.
Total enterprise development of BoM was additionally the best at 20 per cent at Rs 3,37,534 crore adopted by Union Bank of India at 11.04 per cent at Rs 17,31,371 crore on the finish of FY’22. In phrases of RAM (retail, agriculture and MSME) section, BoM registered the best development price of 18.65 per cent at Rs 80,669 crore.
The financial institution’s gross NPAs almost halved to three.94 per cent from 7.23 per cent in March 2021, whereas internet NPAs greater than halved to 0.97 per cent from 2.48 per cent in March 2021.
For the total yr to March, the lender noticed its internet revenue rising two-fold to Rs 1,152 crore as towards Rs 550 crore in FY21.mBoM is eyeing a 25-30 per cent development in its internet revenue within the present monetary yr, aided by a wholesome development in internet curiosity earnings (NII) and fall in provisions for unhealthy belongings.
NII grew by 23.42 per cent on a year-on-year foundation to Rs 6,044 crore in FY2022, as towards Rs 4,897 crore in FY2021.
Source: www.financialexpress.com”