Bank of Maharashtra Loans Up 27%, Total Business ₹6.51 Lakh Cr

Bank of Maharashtra reported a 27% year-on-year jump in total loans to ₹3.06 lakh crore for the quarter ended June 30, according to a regulatory filing by the Pune-based lender on Monday. Total business – comprising loans and deposits – reached ₹6.51 lakh crore, up 19% from ₹5.46 lakh crore a year earlier.

Retail and small-business loans, along with agricultural credit, expanded 25% to ₹1.87 lakh crore. Corporate lending crossed ₹1 lakh crore for the first time, hitting ₹1.11 lakh crore, a 21% increase.

Total deposits rose 13% to ₹3.44 lakh crore. The CASA ratio – the share of low-cost current and savings accounts – fell to 49% from 50% a year earlier. Every percentage point of CASA erosion adds roughly 2-3 basis points to the cost of funds. The bank's ratio remains above the peer median of about 42%.

The filing did not include profit or asset quality numbers. Net interest margin and bad-loan data will be released with the bank's full quarterly results.