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Business Standard
15-07-2025
- Business
- Business Standard
Bank of Maharashtra Q1 profit up 23.2% at ₹1,593 cr on healthy NII growth
Public sector lender Bank of Maharashtra reported a 23.2 per cent year-on-year rise in net profit to ₹1,593 crore for the April–June quarter, mainly aided by healthy growth in net interest income (NII). NII expanded 17.6 per cent to ₹3,292 crore in Q1FY26 compared to ₹2,799 crore in the same quarter a year ago (Q1FY25). Net interest margin (NIM) moderated to 3.95 per cent in Q1FY26 from 3.97 per cent in Q1FY25. Nidhu Saxena, Managing Director and Chief Executive Officer of BoM, said the bank expects NIM to be around 3.75 per cent for FY26. The NIM for Q1FY26 is above the bank's guidance for FY26. Separately, the bank, in its analyst presentation, flagged risks, stating that falling interest rates could impact net interest margins. The bank's non-interest income declined by 8 per cent YoY to ₹825 crore in Q1FY26. Provisions for non-performing assets (NPAs) rose marginally to ₹719 crore in Q1FY26 from ₹586 crore in Q1FY25. There was an increase in slippages from the agricultural loan portfolio in the June quarter. The bank has been able to upgrade agri NPAs worth ₹270 crore as of July, Saxena said in a post-result virtual press meet. Provisions for agri NPAs pushed up the credit cost to 1.19 per cent in Q1FY26 from 1.12 per cent in the March quarter of FY24. Agricultural NPAs rose to 9.65 per cent in June 2025 from 7.88 per cent in June 2024. Advances grew 15.34 per cent YoY to ₹2.41 trillion in Q1FY26. Retail advances grew by 35.37 per cent YoY to ₹71,966 crore in the June quarter of FY26. Through its GIFT City branch, the bank expects to build a book of $1 billion. Total deposits increased 14.08 per cent YoY to ₹3.05 trillion. The share of low-cost deposits—current account and savings account (CASA)—improved to 50.07 per cent at the end of June 2025 from 49.86 per cent a year ago. The bank has board approval to raise up to ₹10,000 crore through infrastructure bonds, which are exempt from meeting Cash Reserve Ratio and Statutory Ratios. The credit-deposit ratio (C/D ratio) stood at 79.04 per cent in the June quarter of 2025, up from 78.17 per cent a year ago. The bank's asset quality improved, with gross NPAs declining to 1.74 per cent in June 2025 from 1.85 per cent in June 2024. Net NPAs also declined from 0.18 per cent in June 2024 to 0.20 per cent in June 2025. The provision coverage ratio (PCR), including written-off accounts, stood at 98.36 per cent in June 2025, the same level as in June 2024. The bank's capital adequacy stood at 20.06 per cent, with Tier-1 capital at 16.63 per cent at the end of June 2025. Although the bank has board approval for an equity offering of ₹5,000 crore, there are no firm plans for capital raising at present. The Pune-based lender's shares ended 2 per cent higher, closing at ₹57.20.
Time of India
15-07-2025
- Business
- Time of India
Bank of Maharashtra Q1 profit rises 23% YoY to Rs 1,593 crore
Bank of Maharashtra on Tuesday reported a 23% year-on-year rise in net profit at Rs 1,593 crore for the first quarter of the fiscal, helped by lower provisions and steady business expansion. Its asset quality remained stable. Its net profit was Rs 1,293 crore in the year ago period. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Buy Lifetime Office 365 Download Undo The bank's net interest margin (NIM) for the quarter stood at 3.95% as compared with 4.01% in the preceding quarter and 3.97% in the year ago period. "The NIM contracted due to the reduction in lending rates. We are trying to protect the NIM by managing the liability side of our business," managing director Nidhu Saxena said after announcing the quarterly numbers. The Pune-headquartered lender's operating profit rose 12% year-on-year at Rs 2,570 crore. Total income in the quarter under review stood at Rs 7,879 crore against Rs 6,769 crore in the year-ago period. Net interest income rose 17.6% at Rs 3,292 crore. Live Events It has made lower provisions and contingencies at Rs 86742 crore during the quarter as compared with Rs 95047 crore. Provisions to cover bad loans however stood higher at Rs 71903 crore against Rs 58639 crore. The bank's gross non-performing assets ratio remained steady at 1.74% at the end of June, little changed from three months ago. The ratio however improved from 1.85% a year-ago, despite the bank recording higher slippages of Rs 727 crore against Rs 592 crore over the same period, largely due to stress in agricultural loan. "Recovery and upgradation helped to reduce the NPA ratio," Saxena said. BoM's advances grew 15.34% year-on-year to Rs 2.41 lakh crore, even as the banking sector's average credit growth remained in single digit in the first three months of the fiscal. The bank is projecting a 17% expansion in advances for FY26. The bank is planning to raise Rs 10,000 crore in infrastructure bonds this fiscal. The state-owned lender also has board approval to raise Rs 5000 crore in equity and Rs 2,500 crore in debt. "We are engaging foreign and local investors. But the capital raising plan has not been firmed up yet," Saxena said.
Time of India
25-04-2025
- Business
- Time of India
RBL Bank Q4 Results: Consolidated profit slumps 76% to Rs 87 crore as unsecured loans bite
State-owned Bank of Maharashtra (BoM) on Friday reported a 23 per cent rise in net profit to Rs 1,493 crore in the March 2025 quarter on the back of core income and reduction in bad loans. The Pune-headquartered bank had earned a net profit of Rs 1,218 crore in the year-ago period. During the quarter, the bank's total income increased to Rs 7,711 crore against Rs 6,488 crore a year ago, BoM said in a regulatory filing. Interest income grew to Rs 6,731 crore during the period under review, from Rs 5,467 crore in the corresponding quarter a year ago. Net Interest Income (NII) grew by 20.59 per cent to Rs 3,116 crore against Rs 2,584 crore for Q4FY24. Talking to the media while announcing quarterly numbers, BoM managing director and chief executive officer Nidhu Saxena said the board has given approval for raising Rs 7,500 crore through a mix of debt and equity. Live Events The capital raise would also help the bank to bring down the government's holding from the existing 79.60 per cent. On the asset quality side, gross Non-Performing Assets (GNPAs) declined to 1.74 per cent of gross advances as of March 2025 from 1.88 per cent by the end of March 2024. Net NPAs also came down to 0.18 per cent of the advances from 0.25 per cent at the end of 2024. However, provisions towards NPAs rose to Rs 640 crore as compared to Rs 457 crore a year ago. Provision Coverage ratio improved to 98.26 per cent as on March 31, 2025, against 98.34 per cent as on March 31, 2024. During the financial year 2024-25, the bank earned a net profit of Rs 5,520 crore against Rs 4,055 crore in the previous year, registering a growth of 36.12 per cent. The total income increased to Rs 28,402 crore during the financial year from Rs 23,493 crore in the previous year. Return on Assets (ROA) improved to 1.75 per cent for 2024-25 against 1.50 per cent for the year ended March 31, 2024. Net Interest Margin (NIM) improved to 4.01 per cent as compared to 3.97 per cent in the previous year. The bank's board has recommended a dividend of Rs 1.5 per share or 15 per cent for the year ended March 31, 2025. The bank plans to add up to 1,000 branches over the next five years, with an average of 200-220 branches per year.
Time of India
25-04-2025
- Business
- Time of India
Bank of Maharashtra Q4 Results: Profit jumps 23% to Rs 1,493 crore
State-owned Bank of Maharashtra (BoM) on Friday reported a 23 per cent rise in net profit to Rs 1,493 crore in the March 2025 quarter on the back of core income and reduction in bad loans. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads State-owned Bank of Maharashtra (BoM) on Friday reported a 23 per cent rise in net profit to Rs 1,493 crore in the March 2025 quarter on the back of core income and reduction in bad loans. The Pune-headquartered bank had earned a net profit of Rs 1,218 crore in the year-ago the quarter, the bank's total income increased to Rs 7,711 crore against Rs 6,488 crore a year ago, BoM said in a regulatory income grew to Rs 6,731 crore during the period under review, from Rs 5,467 crore in the corresponding quarter a year Interest Income (NII) grew by 20.59 per cent to Rs 3,116 crore against Rs 2,584 crore for to the media while announcing quarterly numbers, BoM managing director and chief executive officer Nidhu Saxena said the board has given approval for raising Rs 7,500 crore through a mix of debt and capital raise would also help the bank to bring down the government's holding from the existing 79.60 per the asset quality side, gross Non-Performing Assets (GNPAs) declined to 1.74 per cent of gross advances as of March 2025 from 1.88 per cent by the end of March NPAs also came down to 0.18 per cent of the advances from 0.25 per cent at the end of provisions towards NPAs rose to Rs 640 crore as compared to Rs 457 crore a year Coverage ratio improved to 98.26 per cent as on March 31, 2025, against 98.34 per cent as on March 31, the financial year 2024-25, the bank earned a net profit of Rs 5,520 crore against Rs 4,055 crore in the previous year, registering a growth of 36.12 per total income increased to Rs 28,402 crore during the financial year from Rs 23,493 crore in the previous on Assets (ROA) improved to 1.75 per cent for 2024-25 against 1.50 per cent for the year ended March 31, Interest Margin (NIM) improved to 4.01 per cent as compared to 3.97 per cent in the previous bank's board has recommended a dividend of Rs 1.5 per share or 15 per cent for the year ended March 31, bank plans to add up to 1,000 branches over the next five years, with an average of 200-220 branches per year.
