In the last financial year (2022-23), Bank of Maharashtra (BoM) has performed best in terms of credit and deposit growth (in percentage) among public sector banks. The Pune-headquartered bank also registered a record increase in profits. During the year, the bank’s profit increased by about 126 per cent to Rs 2,602 crore.

According to the data, the net profit of all 12 public sector banks (PSBs) increased by 57 per cent to Rs 1,04,649 crore in the financial year 2022-23.

The total loans or advances of Bank of Maharashtra increased by 29.4 per cent to Rs 1,75,120 crore in the last financial year. After this, Indian Overseas Bank and UCO Bank’s loans increased by 21.2 per cent and 20.6 per cent respectively.

However, in value terms, the country’s largest lender State Bank of India (SBI) has a total loan book of Rs 27,76,802 crore, nearly 16 times that of the BoM. Talking about deposits, the deposits of Bank of Maharashtra increased by 15.7 per cent to Rs 2,34,083 crore in the last financial year.

As per the data, in terms of deposit growth, Bank of Baroda stood second with a growth of 13 per cent (Rs 10,47,375 crore), while Punjab National Bank (PNB)’s deposits grew by 11.26 per cent to Rs 12,51,708 crore. Went. doing.

BoM also topped in securing low-cost current account and savings account (CASA) deposits with 53.38 per cent. It is followed by Central Bank of India with 50.18 per cent.

The total turnover of BoM in 2022-23 has increased by 21.2 percent to reach Rs 4,09,202 crore. Bank of Baroda stood second. Its turnover increased by 14.3 percent to Rs 18,42,935 crore.

Bank of Maharashtra

Bank of Maharashtra is a major bank in Maharashtra among the public sector banks of India. It was registered on 16 September 1935 with an authorized capital of Rs 10 lakh and started active business on 8 February 1936.

Since its inception, it is known as the common man’s bank. Due to the initial support given to small units, it has given birth to many of today’s industrial houses. It has the largest branch network of any public sector bank in the state of Maharashtra.

The bank was founded by a group of visionaries led by late VG Kale and late DK Sathe and was registered as a banking company on 16 September 1935 at Pune.