Bank of Maharashtra jumps on logging credit growth of 29.59% in Q4 FY23
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Bank of Maharashtra is currently trading at Rs. 26.23, up by 0.56 points or 2.18% from its previous closing of Rs. 25.67 on the BSE.
The scrip opened at Rs. 25.67 and has touched a high and low of Rs. 26.50 and Rs. 25.59 respectively. So far 1296354 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 36.25 on 15-Dec-2022 and a 52 week low of Rs. 15.00 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 26.50 and Rs. 24.58 respectively. The current market cap of the company is Rs. 17647.36 crore.
The promoters holding in the company stood at 90.97%, while Institutions and Non-Institutions held 3.54% and 5.49% respectively.
Bank of Maharashtra (BoM) has posted a credit growth of 29.59 per cent at Rs 1.75 lakh crore for the March quarter (Q4 FY23). The outstanding credit was Rs 1.35 lakh crore at the end of March 31, 2022. In Q4 FY23, total deposits of the bank increased 15.7 per cent to Rs 2.34 lakh crore as against Rs 2.02 lakh crore at the end of the fourth quarter of the previous financial year.
The lender registered a 21.28 growth in total business to cross a milestone of Rs 4 lakh crore. At the end of March 2023, the total business (total advances and total deposits) increased to Rs 4.09 lakh crore as against Rs 3.37 lakh crore at the end of the previous fiscal.
Bank of Maharashtra offers several products and services in personal banking such as deposits, savings, personal loans, educational loans, demat services, credit cards, etc. The Bank also offers services to agricultural and SME sectors.
