Bank of Maharashtra surges on reporting 25% rise in total deposits during first quarter of FY24
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Bank of Maharashtra is currently trading at Rs. 30.26, up by 0.29 points or 0.97% from its previous closing of Rs. 29.97 on the BSE.
The scrip opened at Rs. 30.32 and has touched a high and low of Rs. 30.67 and Rs. 29.41 respectively. So far 3574222 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. 15.45 on 04-Jul-2022.
Last one week high and low of the scrip stood at Rs. 30.67 and Rs. 27.17 respectively. The current market cap of the company is Rs. 21435.32 crore.
The promoters holding in the company stood at 90.97%, while Institutions and Non-Institutions held 3.59% and 5.44% respectively.
Bank of Maharashtra’s total deposits stood at Rs 2,44,364 crore (provisional) as of June 30, 2023 (Q1FY24), posting a 24.73% rise in year-on-year (YoY) terms as against Rs 1,95,909 crore as of June 30, 2022 and on quarter-on-quarter (QoQ) basis, term deposits stood at Rs 2,34,083 crore as of March 2023.
Its gross advances stood at Rs 1,75,603 crore (provisional) as of June 30, 2023, posting a 24.93% rise in year-on-year (YoY) terms against Rs 1,40,561 crore as of June 30, 2022 and in quarter-on-quarter (QoQ) basis stood at Rs 1,75,120 crore as of March 2023. CASA deposits grew 13.37% to Rs 1,24,546 crore (provisional) as of June 30, 2023, as compared to Rs 1,09,857 crore on a yearly basis. On a quarterly basis, the CASA deposits stood at Rs 1,24,961 crore as of March 2023.
CASA stood at 50.97% (provisional) as of June 30, 2023 against 56.08% as of June 30, 2022.
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.
