BANK OF MAHARASTRA FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31st Mar 2024

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by Samiksha

RESULTS AT A GLANCE Quarter 31st Mar 2024 vis a vis Quarter 31st Mar 2023


  • Total Business grew by 15.94 % to ₹ 474,411  
  • Total Deposits increased by 15.66 % to ₹ 270,747  
  • Gross Advances increased by 16.30 % to ₹ 203,664  
  • Credit – Deposit (CD) Ratio improved to 22 %.
  • Gross NPA declined to  88 % as on 31.03.2024.
  • Net NPA reduced to 20 % as on 31.03.2024.
  • Provision Coverage Ratio improved to 34 %.
Ø  Operating profit grew by 19.10 % to ₹ 2,210 crore.

  • Net Profit increased by 95 % to ₹  1,218  crore as on 31.03.2024
Ø  Net Interest Income increased by 18.17 % to ₹ 2,584 crore.

  • Net Interest Margin (NIM) improved to 97 % as on 31.03.2024.
  • Cost to Income Ratio stood at 38.72 %.
  • Return on Assets (ROA) improved to 73 %.
  • Return on Equity (ROE) improved to 35 %.
  • CRAR stood at  38 % of which Tier I is 13.72%.
  • Net Profit increased by 95 % to ₹ 1,218  crore in Q4FY24 on Y-o-Y basis as against ₹ 840 crore for Q4FY23.  The same is increased by 17.59 % on a Q-o-Q sequential basis.
  • Operating Profit has shown a growth of 10 % on Y-o-Y basis to ₹ 2,210  crore for Q4FY24 as against ₹ 1,855 crore for Q4FY23.The same has improved by 9.82 % on a Q-o-Q basis.
  • Net Interest Income (NII) grew by 17 % on Y-o-Y basis to ₹ 2,584 crore in Q4FY24 as against     ₹ 2,187 crore for Q4FY23.  The same is increased by 4.81 % on a Q-o-Q sequential basis.
  • Net Revenues (Net Interest income plus other income) for Q4FY24 improved by 85 % from
  • Cost to Income Ratio is 72 % for Q4FY24 as against 38.34 % for Q4FY23. The same was        36.04 % for the quarter ended 31.12.2023.
  • Return on Assets (ROA) improved to 73 % for Q4FY24 against 1.32 % for Q4FY23 and 1.55 % for Q3FY24.
  • Return on Equity (ROE) also improved to 35 % for Q4FY24 against 26.32 % for Q4FY23 and 24.51 % for Q3FY24.
  • Net Profit increased by 84 % to ₹ 4,055 crore   on Y-o-Y basis against ₹ 2,602 crore for the year ended 31.03.2023.
  • Operating Profit has shown a growth of 25 % to ₹ 8,005  crore on Y-o-Y basis against ₹ 6,099 crore for the year ended 31.03.2023.
  • Net Interest Income (NII) grew by 88 % on Y-o-Y basis to ₹ 9,822  crore for the year ended 31.03.2024 as against ₹ 7,741 crore for the year ended 31.03.2023.
  • Fee based income increased by 86 % on Y-o-Y basis to ₹ 1,582 crore for the year ended 31.03.2024.
  • Cost to Income Ratio improved to 55 % for the year ended 31.03.2024 as against 39.14% for the year ended 31.03.2023.
  • Return on Assets (ROA) improved to 50 % for the year ended 31.03.2024 against 1.10 % for the year ended 31.03.2023.
  • Return on Equity (ROE) also improved to 83 % for the year ended 31.03.2024 against 20.38 % for the year ended 31.03.2023.
  • Total Business grew by 94 % on Y-o-Y basis to ₹ 474,411  crore.
  • Total Deposits increased by 66 % on Y-o-Y basis to ₹ 270,747  crore.
  • Gross Advances grew by 30 % on Y-o-Y basis to ₹ 203,664  crore.
  • Net Advances grew by 95 % on Y-o-Y basis to ₹  200,240  crore.
  • RAM (Retail, Agri. & MSME) Business grew by 21 % on Y-o-Y basis. Retail advances grew by  19.10 % to ₹ 51,727 crore on Y-o-Y basis. MSME advances grew by 26.69 % on Y-o-Y basis to
  • Total Basel III Capital adequacy ratio improved to 17.38% with Common Equity Tier 1 ratio of 12.50 %.
  • During the year ended on 31st Mar 2024, the Bank has raised the total capital of ₹1774 crore (Equity of ₹ 1000 crore & Tier II Bond of ₹ 774 crore (₹ 515 crore in Sep-23 quarter & ₹259 crore in Dec-23 quarter).
  • Gross NPA declined to  88 % as on 31.03.2024 against 2.47 % as on 31.03.2023. The same was  2.04 % as on 31.12.2023.
  • Net NPA declined to 20 % as on 31.03.2024 against 0.25 % as on 31.03.2023. The same was  0.22 % as on 31.12.2023.
  • Provision Coverage ratio improved to 34 % as on 31.03.2024 as against 98.28% as on 31.03.2023. The same was 98.40   % as on 31.12.2023.
  • Bank holds cumulative Covid-19 contingency provision of ₹ 1200 crore as on 31st Mar 2024.
Top Line Business(₹ in crore)
ParticularsAs onGrowth (%)
Mar 23Mar 24Y-o-Y
Total Business409,202474,41115.94
Deposits234,083270,74715.66
of which CASA124,961142,77414.25
CASA Share (%) to Total Deposit                53.38                52.73 
Gross Advances175,120203,66416.30
Profitability (₹ in crore)
ParticularsQuarter EndedChange (%)
Mar 23Dec 23Mar 24Y-o-YQ-o-Q
Total Income5,3175,8516,48822.0210.88
Total Expenses3,4623,8394,27923.5911.44
Operating Profit1,8552,0122,21019.109.82
Provisions & Cont. other than taxes945943942(0.26)(0.04)
Profit before tax9111,0691,26739.1818.51
Tax Expense713450(29.57)46.42
Net Profit8401,0361,21844.9517.59
Balance Sheet(₹ in crore)
LIABILITIESAs on
Mar 23Mar 24
Capital6,7317,081
Reserves and Surplus8,88012,593
Deposits234,083270,747
Borrowings10,7667,719
Other Liabilities & Provisions7,1938,998
TOTAL267,651307,138
ASSETS  
Cash and Balances with Reserve Bank of India18,50821,161
Balances with Banks and Money at Call & Short Notice219,150
Investments68,86768,274
Advances (Net)171,221200,240
Fixed Assets2,1572,210
Other Assets6,8786,103
TOTAL267,651307,138

Profitability (Quarter Ended Mar 31st, 2024)

₹ 3,009 crore for Q4FY23 to ₹ 3,606 crore for Q4FY24. The same is increased by 14.63 % on a        Q-o-Q sequential basis.

Profitability (Year Ended Mar 31st, 2024)

Assets & Liabilities (As on March 31st, 2024)

₹ 42,117 crore.

Capital Adequacy: (As on March 31st, 2024)

Asset quality: (As on March 31st, 2024)

A presentation for investor is being separately placed on the Banks websitehttp://www.bankofmaharashtra.in

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