Bank of Maharashtra topped in terms of loans and deposits in the September quarter know how much deposits increased

Bank of Maharashtra (BOM), one of the public sector banks of the country, has secured the first position among all the PSU banks in terms of percentage of loans and deposits during the second quarter of the current financial year.

Bank of Maharashtra recorded a growth of over 20 percent in deposits and advances, the highest by any public sector bank during the July-September period.

As per available data, advances of Bank of Maharashtra (BoM) increased by 23.55 percent to Rs 1,83,122 crore in the September quarter.

Indian Overseas Bank with a growth of 20.29 percent, Central Bank of India with a growth of 17.26 percent, and UCO Bank with a growth of 16.53 percent.

State Bank of India (SBI) stood in seventh position with 13.21 percent growth in domestic advances. However, the total loan of SBI was almost 16 times more i.e. Rs 28,84,007 crore as compared to BOM's Rs 1,75,676 crore.

Talking about deposit growth, BOM witnessed a growth of 22.18 percent and raised Rs 2,39,298 crore at the end of September 2023.

According to the published data, the Bank of Baroda was in the second position with a 12 percent growth in deposits (Rs 10,74,114 crore), while SBI recorded an 11.80 percent growth to Rs 45,03,340 crore.

In terms of raising low-cost current account and savings account (CASA) deposits, BoM retained the top position with 50.71 percent, followed by the Central Bank of India with 49.93 percent.

Due to higher growth in loans and deposits, the total business of the bank also recorded the highest growth of 22.77 percent at Rs 4,22,420 crore, followed by Bank of Baroda which recorded a growth of 13.91 percent (Rs 19,08,837 crore). of.