Bhopal: BoM tops PSU lenders chart in profit, loan growth

Bhopal: BoM tops PSU lenders chart in profit, loan growth

State-owned Bank of Maharashtra (BoM) has emerged as the top performer among public sector lenders in terms of loan and deposit growth in percentage terms during 2022-23.

Staff ReporterUpdated: Friday, May 26, 2023, 06:43 AM IST
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Bhopal (Madhya Pradesh): Bank of Maharashtra tops the PSU lenders' chart in profit and loan growth in FY23. It also recorded the highest growth in profitability with the bottom line growing almost 126 per cent to Rs 2,602 crore during the year.

State-owned Bank of Maharashtra (BoM) has emerged as the top performer among public sector lenders in terms of loan and deposit growth in percentage terms during 2022-23. BoM also recorded the highest growth in profitability with the bottom line growing almost 126 per cent to Rs 2,602 crore during the year.

However, all the 12 public sector banks together recorded 57 per cent jump in net profit at Rs 1,04,649 crore in FY23, according to published yearly numbers of public sector banks (PSBs). In terms of percentage increase in gross advances, BoM recorded 29.4 per cent jump in loans at Rs 1,75,120 crore as of March 2023.

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