Bank of Maharashtra tops PSU lenders' list in Q2 loan growth

GUWAHATI: The Pune-headquartered lender recorded a 28.62 per cent increase in gross advances to Rs 1,48,216 crore at the end of September 2022, according to published quarterly numbers of the public sector banks (PSBs).

Bank of Maharashtra (BoM) has emerged as the top performer among the public sector lenders in terms of the loan growth in percentage terms during the Second quarter of 2022-23. The Pune-headquartered lender recorded a 28.62 per cent increase in gross advances to Rs 1,48,216 crore at the end of September 2022, according to published quarterly numbers of the public sector banks (PSBs).

It was followed by the Union Bank of India with 21.54 per cent growth to Rs 7,52,469 crore. Country's largest lender State Bank of India stood at third spot with 18.15 per cent rise in advances growth. In terms of Retail-Agriculture-MSME (RAM) loans BoM has the highest growth of 22.31 per cent followed by Bank of Baroda with 19.53 per cent and State Bank of India at 16.51 per cent for the period.

In terms of Total Business Growth BoM registered a growth of 15.92 per cent for the Q2-2022-23 Half Yearly period with Total Business of Rs 3,44,065 crore. Union Bank of India had the highest growth of 17.17% during the period with Total Business of Rs 17,95,464 crore. Bank of Baroda stood at 3rd position in terms of Total Business Growth with 12.62% having total Business Rs 16,75,704 crore for the period.

Union Bank of India was at the first spot with 14.21 per cent growth in deposits (Rs 10,42,995 crore), followed by Bank of Baroda with 10.90 per cent rise at Rs 9,58,967 crore, according to the data. With regard to deposit growth, BoM witnessed a 7.86 per cent growth and mobilised Rs 1,95,849 crore at the end of September 2022. BoM stood 5th in terms of Total Deposit growth among the PSBs for the period. However, in terms of Low-cost CASA deposit BoM topped the chart with 56.27 per cent followed by Central Bank of India with 50.99 per cent, stated a press release.

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