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What is the story about?
Bank of Maharashtra reported its results for the June quarter on Friday, July 10.
Net interest income (NII), or core income, rose 14.5% year-on-year to ₹3,770 crore from ₹3,292 crore in the corresponding quarter last year.
Net profit increased 26.8% to ₹2,020 crore, compared with ₹1,593 crore a year ago.
On the asset quality front, the bank's gross non-performing asset (GNPA) ratio stood at 1.45%, the same as the 1.45% it reported in the March quarter. The net non-performing asset (NNPA) ratio also stood at 0.13%, the same as reported in the March quarter by the state-run lender.
Fresh slippages during the quarter came in at ₹888 crore, compared with ₹727 crore in Q1FY26 and ₹839 crore in the March quarter. Net interest margin (NIM) narrowed to 3.79% from 3.91% in the preceding quarter and 3.95% a year earlier.
Ahead of the earnings announcement, the state-run lender had reported a 19% year-on-year growth in total business to ₹6.51 lakh crore in its provisional business update.
Total deposits increased 13% year-on-year to ₹3.44 lakh crore, while global advances rose 27% to ₹3.06 lakh crore.
Within the loan book, Retail, Agriculture and MSME (RAM) advances grew 25% year-on-year to ₹1.87 lakh crore, while domestic corporate advances increased 21% to ₹1.11 lakh crore.
The bank's CASA ratio stood at 49% as of June 30, compared with 50% a year earlier.
At the end of the quarter, Bank of Maharashtra's provisions stood at ₹840 crore from ₹617 crore in the March quarter, and nearly the same as ₹867 crore during the same period last year.
Shares of Bank of Maharashtra were trading 3.4% higher on Friday after the results announcement at ₹84.9. The stock has cooled off from the highs of the day and is trading at ₹83, as of 2.34 pm, up 1.21%.
Shares of Bank of Maharashtra and other fellow PSU lenders had surged earlier in the day after Indian Bank's results , which had taken the stock higher by 10%.
Net interest income (NII), or core income, rose 14.5% year-on-year to ₹3,770 crore from ₹3,292 crore in the corresponding quarter last year.
Net profit increased 26.8% to ₹2,020 crore, compared with ₹1,593 crore a year ago.
On the asset quality front, the bank's gross non-performing asset (GNPA) ratio stood at 1.45%, the same as the 1.45% it reported in the March quarter. The net non-performing asset (NNPA) ratio also stood at 0.13%, the same as reported in the March quarter by the state-run lender.
Fresh slippages during the quarter came in at ₹888 crore, compared with ₹727 crore in Q1FY26 and ₹839 crore in the March quarter. Net interest margin (NIM) narrowed to 3.79% from 3.91% in the preceding quarter and 3.95% a year earlier.
Ahead of the earnings announcement, the state-run lender had reported a 19% year-on-year growth in total business to ₹6.51 lakh crore in its provisional business update.
Total deposits increased 13% year-on-year to ₹3.44 lakh crore, while global advances rose 27% to ₹3.06 lakh crore.
Within the loan book, Retail, Agriculture and MSME (RAM) advances grew 25% year-on-year to ₹1.87 lakh crore, while domestic corporate advances increased 21% to ₹1.11 lakh crore.
The bank's CASA ratio stood at 49% as of June 30, compared with 50% a year earlier.
At the end of the quarter, Bank of Maharashtra's provisions stood at ₹840 crore from ₹617 crore in the March quarter, and nearly the same as ₹867 crore during the same period last year.
Shares of Bank of Maharashtra were trading 3.4% higher on Friday after the results announcement at ₹84.9. The stock has cooled off from the highs of the day and is trading at ₹83, as of 2.34 pm, up 1.21%.
Shares of Bank of Maharashtra and other fellow PSU lenders had surged earlier in the day after Indian Bank's results , which had taken the stock higher by 10%.
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