Pune: Bank of Maharashtra has reported a 16.3% year-on-year increase in its gross advances to Rs 2 lakh crore in Q4FY24 from Rs 1.8 lakh crore a year ago. The bank’s gross advances growth has dipped below 20% after nine consecutive quarters. Its advances grew by 11% in Q2FY22. Retail, agriculture and MSME sector loans (RAM) comprise 61% of the bank’s gross advances in Q3FY24. Housing loans constitute bulk of the lender’s retail loans. The bank’s total deposits rose to Rs 4.7 crore, higher by 15.9%. Of the total, the bank’s CASA despoits grew by 14% to Rs 1.4 lakh crore leading to CASA ratio of 52.7% as of March 31 as compared to 53.38% a year ago. TNNWe also published the following…
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Category: Bank of Maharashtra
Bank of Maharashtra rallies as PAT climbs 44% YoY in Q4 – Trade Brains
Bank of Maharashtra rallies as PAT climbs 44% YoY in Q4 Trade Brains
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Source: https://portal.tradebrains.in/news/all-news/bank-of-maharashtra-rallies-as-pat-climbs-44-yoy-in-q4
IREDA Join Hands With Bank Of Maharashtra For Financing Renewable Energy Projects
New Delhi, Sept 19 (KNN) The Indian Renewable Energy Development Agency (IREDA) on Monday signed an agreement with Bank of Maharashtra to finance renewable energy projects.
The MoU was signed by General Manager (Technical Services), IREDA, Bharat Singh Rajput, and General Manager (Retail & MSME Credit), BoM, Rajesh Singh, at IREDA’s Business Centre.
The collaboration aims to promote and facilitate co-lending and loan syndication for a diverse spectrum of renewable energy projects across the nation, an official statement said.
The MoU between the two will allow co-lending and co-origination support for all renewable energy projects, facilitating loan syndication and…
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Akshaya Tritiya: Significance And Why People Buy Gold On This Day
Akshaya Tritiya is a significant day for the Hindu community in India. Also known as Akha Teej, the day falls on the third lunar day of the bright half of the Hindu month of Vaishakha. “Akshaya” translates to eternal, while “Tritiya” means third. As the name suggests, it is believed that any auspicious activity or investment made on this day brings endless prosperity and good fortune. One of the most enduring traditions associated with Akshaya Tritiya is the purchase of gold. Watch here to know more
Source: https://www.moneycontrol.com/
A Seamless, Encrypted Banking Solution for All
New Delhi [India], May 11: In an era where time is a luxury and customers seek instant access to financial services, Bank of Maharashtra’s WhatsApp Banking services simplifies everyday banking services to meet demands of modern life. This innovative service, available to customers, leverages the omnipresent messaging platform to provide convenient, secure, and real-time access to essential banking services.
Seamless Onboarding and Use
The process of activating the Bank’s WhatsApp services couldn’t be simpler:
* Individuals can save Bank of Maharashtra’s WhatsApp number ‘7066036640’ in their contacts and send a “Hi.”
* The bank identifies their relationship, based…
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A Seamless, Encrypted Banking Solution for All
ANI |
Updated: May 11, 2024 10:39 IST
SMPLNew Delhi [India], May 11: In an era where time is a luxury and customers seek instant access to financial services, Bank of Maharashtra’s WhatsApp Banking services simplifies everyday banking services to meet demands of modern life. This innovative service, available to customers, leverages the omnipresent messaging platform to provide convenient, secure, and real-time access to essential banking services.Seamless Onboarding and UseThe process of activating the Bank’s WhatsApp services couldn’t be simpler:* Individuals can save…
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Bank Of Maharashtra Organises ‘Customer Outreach Programme’
Indore (Madhya Pradesh): Bank of Maharashtra, a premier public sector bank in the country conducted ‘Customer Outreach Programme’ on July 24 across all its branches and zonal offices throughout the country. Satyanarayana, zonal manager and Nilesh Waghmare chief manager, Bank of Maharashtra, expressed gratitude towards all the customers for their trust and support. This programme was a proactive initiative by the Bank to reach out to customers across India and enhance their awareness of the various banking products offered by the Bank. While addressing the event Satyanarayana Zonal Manager said that the primary objectives of the…
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Redefining Homeownership: Bank of Maharashtra's Maha Super Housing Loan at a Stellar 8.35% P.A. – Asianet Newsable
Redefining Homeownership: Bank of Maharashtra’s Maha Super Housing Loan at a Stellar 8.35% P.A. Asianet Newsable
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Bank of Maharashtra’s net profit up to Rs.1,218 crore in Q4
Bank of Maharashtra (BoM) reported a 45 per cent year-on-year (Y-o-Y) jump in 4th quarter (Q4FY24) with net profit at Rs 1,218 crore against Rs 840 crore, buoyed by healthy growth in net interest income and non-interest income, and relatively lower tax provisionburden.The Bank also announced a dividend of Rs 1.40 per equity share of Rs 10 face value for FY24 and approved raising of Rs 7,500 crore capital, including equity issuance, in FY25.Shri Nidhu Saxena, MD & CEO, said the bank will sustain the profitability and efficiency parameters assiduously built over the last 15 quarters or so even as it has set its sights on turning into a bank of great significance through a notch up in its…
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Bank of Maharashtra hikes deposit rates by up to 125 basis points
Mumbai: Bank of Maharashtra (BoM), has increased its deposits interest rate by up to 125 bps (100bps=1%) with effect from 12.10.2023. The rate increase applies to fixed deposits as well as special schemes introduced by the bank.Bank of Maharashtra is the second bank to raise deposit rates after the Reserve Bank of India monetary policy committee meeting last week. Although RBI had retained its policy rate, it had said that it would tighten liquidity by selling government bonds through open market operations to keep inflation under check.ExpandThe highest increase of 125 bps is in deposit rates for the tenure of 46-90 days where the bank now offers 4.75%. For tenure of 1 Year, the bank…
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