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Bank of Maharashtra's gross advances grew 27% to Rs 1.36 lakh crore in FY22

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Bank of Maharashtra's gross advances grew 27% to Rs 1.36 lakh crore in FY22

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Public sector lender Bank of Maharashtra on Monday said it has witnessed over 27 percent growth in gross advances at Rs 1,36,733 crore during the 2021-22 financial year, while deposits growing by 16 percent to Rs 2,02,641 crore.

Bank of Maharashtra's gross advances grew 27% to Rs 1.36 lakh crore in FY22
Public sector lender Bank of Maharashtra on Monday said it has witnessed over 27 percent growth in gross advances at Rs 1,36,733 crore during the 2021-22 financial year, while deposits growing by 16 percent to Rs 2,02,641 crore.
In FY21, the gross advances of the bank stood at Rs 1,07,654 crore and the deposits were worth Rs 1,74,006 crore, the bank said in its latest provisional data.
The total business of the Pune-based bank rose by 20.49 percent to Rs 3,39,374 crore year-on-year as of March 31, 2022 as against Rs 2,81,660 crore in the year ago period, the bank said in a regulatory filing. Meanwhile, private sector lender IDFC First Bank said its total deposits rose by 12.6 percent to Rs 93,138 crore at the end of FY22, and its gross funded assets grew by 12.8 percent to Rs 1,32,067 crore.
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The bank's retail business, which includes home loans, loan against property, vehicle loans, consumer loans and credit cards, and its commercial business (SME banking, business loans and commercial vehicles) grew by 26.4 percent year-on-year as of March 31, 2022, IDFC First Bank said in a regulatory filing. The retail loan growth was led by an increase in its home loan book which registered a jump of 52.1 percent.
The bank said its retail business represents 63.4 percent of the bank's overall funded assets while the commercial business constitutes 8.8 percent. The infrastructure loan which constitutes 5.2 percent of the overall loan declined by 36.2 percent at the end of March 31, 2022. Corporate loans grew 6 percent year-on-year. Corporate loans and credit investments constitutes 22.6 percent of the total funded exposure, IDFC First Bank said.
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