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Bank of Maharashtra on Tuesday said it has registered over 23 per cent growth in gross advances to Rs 1,29,052 crore at the end of December 2021.
The bank’s gross advances stood at Rs 1,04,904 crore at the end of December 31, 2020.
According to a regulatory filing, deposits grew by 15.21 per cent to Rs 1,86,614 crore in the period under review as against Rs 1,61,971 crore in the year-ago period.
The Financial Services Institutions Bureau (FSIB) has recommended Asheesh Pandey for the position of Managing Director of Chennai-based Indian Bank, on Wednesday, April 24. Pandey, presently serving as the executive director of Bank of Maharashtra, is set to replace S L Jain upon his superannuation.”Taking into account their performance during the interface, overall experience, and the existing parameters, the Bureau recommends Asheesh Pandey for the position of Indian Bank,” stated FSIB. In its statement declaring the selection process results, FSIB revealed that 17 candidates were interviewed on April 23 and 24. The final decision on FSIB’s recommendation will be made by the…
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NEW DELHI: State-owned Bank of Maharashtra (BoM) on Tuesday posted a 34 per cent rise in its profit at Rs 1,036 crore in the third quarter ended December 2023.The Pune-based lender had posted a net profit of Rs 775 crore in the same quarter a year ago.ExpandTotal income increased to Rs 5,851 crore during the quarter under review against Rs 4,770 crore in the same period last year, BoM said in a regulatory filing.The bank earned an interest income of Rs 5,171 crore during the quarter compared to Rs 4,129 crore in the same period a year ago.The bank was able to reduce gross Non-Performing Assets (NPAs) to 2.04 per cent of the gross loans by the end of December 2023 from 2.94 per cent a…
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The floods in Nagpur on September 23 severely affected homes and trapped residents in the Nag river’s hinterland and also has inundated the zonal office of Bank of Maharashtra (BoM) in Sitabuldi, causing significant damage to the currency vault. Due to the floods several hundred crores of rupees in cash were soaked, damaged, and rendered unusable, reported Times Of India.
According to TOI’s latest report in which they quoted a source, the bank lost approximately Rs 400 crore in paper currency that was deemed worthless.Background of the incident
The bank was inaugurated by then-Chief Minister Vasantrao Naik in 1967. Situated just 50 meters from the…
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State-owned Bank of Maharashtra (BoM) on Friday said it has opened its first dedicated branch for startups in Pune. The dedicated branch will provide all kinds of support to a startup during its growth journey, BoM said in a statement. During the inauguration, BoM MD and CEO AS Rajeev said, “India is one of the growing hubs for startups and unicorns in the world. It is imperative for us to start our own dedicated branch for startups, where we shall cater to all their needs — right from the inception to the issuance of IPO/FPO”. Pune is strategically important for us to venture into, considering the technological and industrial advancement of the city and the expertise the bank has,…
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owned Bank of Maharashtra (BoM) retained the top spot among public sector lenders in loan and deposit growth in percentage terms during the second quarter of the current financial year. The deposit and advances of the Pune-based lender posted an over 20 per cent rise, the highest by any public sector bank during the July-September period. With a growth rate of 23.55 per cent, gross domestic advances of the bank rose to Rs 1,83,122 crore at the end of September 2023, according to published quarterly numbers of public sector banks (PSBs). It was followed by Indian Overseas Bank with 20.29 per cent growth, Central Bank of India (17.26 per cent growth) and UCO Bank with 16.53 per cent…
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Aurangabad MP Imtiaz Jaleel on Thursday has demanded action against the Bank of Maharashtra over its circular for health insurance, describing the Coronavirus as a business opportunity. The Bank of Maharashtra has started a health insurance drive from March 18 to March 21. In its circular, they have stated, “Looking at the risk of Pandemic COVID-19, the awareness and demand of Health Insurance has increased. This is the time to use this as a business opportunity and help our customers by offering suitable Health Insurance Products.” They have further set a sub-target for the zones of Rs 3.00 L during the drive. The circular: Coronavirus crisis in India As of date, the total…
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This story is from January 16, 2024Mumbai: Bank of Maharashtra has reported a net profit of Rs 1036 crore for the quarter ending December 2023, marking a 34% increase from Rs 775 crore in the same quarter of the previous year. The profit surge was driven by a 20% growth in total advances, reaching Rs 185217 crore compared to Rs 153065 crore in December 2022. Simultaneously, deposits increased by 17.9% to Rs 245734 crore. ExpandThe bank’s capital adequacy stood at 16.85%, with a Common Equity Tier 1 ratio of 11.56% at the close of the December quarter. The managing director and CEO, AS Rajeev, said that factoring in the December 2023 profits would elevate the bank’s capital adequacy to…
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New Delhi, State-owned Bank of Maharashtra (BoM) retained the top spot among public sector lenders in loan and deposit growth in percentage terms during the second quarter of the current financial year. The deposit and advances of the Pune-based lender posted an over 20 per cent rise, the highest by any public sector bank during the July-September period. With a growth rate of 23.55 per cent, gross domestic advances of the bank rose to Rs 1,83,122 crore at the end of September 2023, according to published quarterly numbers of public sector banks (PSBs). It was followed by Indian Overseas Bank with 20.29 per cent growth, Central Bank of India (17.26 per cent growth) and UCO Bank with…
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M.C.C. Bank Ltd convenes Annual General Meeting, records net profit of 10.38 Crores
Bellevision Media NetworkMangaluru, 25 Sep 2023: M.C.C. Bank Limited has performed extremely well under all the financial parameters during the Financial Year 2022-23 and has declared a dividend of 10% to its shareholders. The Bank has earned an unprecedented net profit of Rs.10.38 Crore for the first time in the history of the Bank for the Financial Year 2022-23 as against the net profit of 8.27 Crore in the FY 2021-22.
The Bank has convened its…
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Source: http://www.bellevision.com/index.php?action=topnews_print&type=25504
