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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Bank of Maharashtra Q3FY24 net profit rises 34% to Rs 1036 crore
