Bank of Maharashtra tops PSU lenders’ chart

VIJAYAWADA: Bank of Maharashtra (BoM) has emerged as the top performer among the public sector lenders in terms of loan and deposit growth in percentage terms during 2021-22.

The Pune-headquartered lender recorded a 26 per cent increase in gross advances at Rs 1,35,240 crore at the end of March 2022. It was followed by the State Bank of India and Union Bank of India with 10.27 per cent and 9.66 per cent growth, respectively.

However, in absolute terms, aggregate, loans of SBI were nearly 18 times higher, while UBI’s five times higher when compared to that of BoM's at the end of FY’22.

With regard to deposit growth, BoM witnessed a 16.26 per cent growth and mobilised Rs 2,02,294 crore.Total business growth of BoM was also the highest at 20 per cent at Rs 3,37,534 crore. In terms of RAM (retail, agriculture and MSME) segment, BoM registered the highest growth rate of 18.65 per cent at Rs 80,669 crore. The bank’s gross NPAs nearly halved to 3.94 per cent from 7.23 per cent in March 2021, while net NPAs halved to 0.97 per cent from 2.48 per cent.