Bank of Maharashtra achieves 36% profit growth amidst strict underwriting standards
Bank of Maharashtra managing director Nidhu Saxena said that he would not mind compromising growth a bit to maintain high asset quality. «We have stressed upon the quality of advances. However, we are happy that the bank achieved 21% advances growth despite stricter underwriting standards.»
The state-owned lender reported a 36% year-on-year rise in net profit at Rs 1406 crore for the December quarter while operating profit rose 14.5% at Rs 2303 crore.
The bank's asset quality improved with the gross non-performing assets ratio falling to 1.80% at the end of December last as against 2.04% a year back. Net NPA remained at 0.20% with the provision coverage ratio at 98.28%.
Its gross advances grew to Rs 2.29 lakh crore while total deposits rose 13.5% to Rs 2.79 lakh crore
Saxena said that the bank may raise Rs 2500 crore in QIP in FY26 to bring down the government shareholding below 75% from 79.6% at present. He also said that the bank is well-capitalised for growth and there is no need for immediate capital raising. Government banks got an extended deadline of August 2026 to raise public shareholding to a minimum 25%.
Stock Trading
Maximise Returns by Investing in the Right Companies
By — The Economic Times, Get Certified By India's Top Business News Brand
Stock Trading
Market 104: Options Trading: Kickstart Your F&O Adventure
By — Saketh R, Founder- QuickAlpha, Full Time Options Trader
Stock Trading
Technical Analysis for Everyone — Technical Analysis Course
By — Abhijit Paul, Technical Research Head, Fund Manager-
