Daijiworld Media Network - Pune

Pune, Jan 5: Bank of Maharashtra (BoM) on Monday reported a robust credit growth of 19.61 per cent to Rs 2.73 lakh crore during the October-December quarter of the current financial year.

In a regulatory filing, the Pune-headquartered public sector lender said its outstanding credit stood at Rs 2.29 lakh crore at the end of the corresponding quarter of the previous fiscal. Of the total credit, corporate advances accounted for Rs 1.02 lakh crore, while retail, agriculture and MSME (RAM) advances aggregated Rs 1.71 lakh crore during the quarter.

The bank also posted a healthy rise in deposits, which increased by 15.3 per cent to Rs 3.22 lakh crore in the reporting quarter, compared to Rs 2.79 lakh crore as on December 31 of the previous financial year.

With this, the bank’s total business — comprising credit and deposits — grew by 17.24 per cent to Rs 5.95 lakh crore, up from Rs 5.08 lakh crore a year ago.

During the quarter under review, BoM said its current account and savings account (CASA) deposits rose by 15.93 per cent to Rs 1.59 lakh crore, as against Rs 1.37 lakh crore in the same period last year, indicating sustained improvement in its low-cost deposit base.