Bank of Maharashtra Share Price Rose 2%: Growing Net Profit and Stable Asset Quality in Q3FY25

On January 16, 2025, the Bank of Maharashtra share price rebounded by approximately 2% following the previous day’s decline, reaching a high of ₹52.75 at 10:15 AM. The recovery in Bank of Maharashtra share price came after the release of Q3FY25 results, which showed strong growth in net profit and stable asset quality.

The bank’s Net Interest Income (NII), a key measure of core income, grew by 19% year-on-year to ₹2,944 crore. Net profit for the quarter also saw a significant rise, increasing by 36% year-on-year to ₹1,406 crore.

Stable Asset Quality

Asset quality remained stable, with the Gross NPA improving to 1.8% from 1.84% in the previous quarter, while the Net NPA held steady at 0.2%. In its business update for the quarter, the bank reported a 13.5% year-on-year increase in deposits, totalling ₹2.79 lakh crore. However, sequentially, deposit growth was modest at 1%. Advances for the quarter grew by 21.2% compared to the previous year, reaching ₹2.28 lakh crore, which was also 5.1% higher than in the September quarter.

Growth in CASA 

CASA deposits increased by 11.5% year-on-year to ₹1.37 lakh crore, while the CASA ratio stood at 49.28%, slightly lower than the 50.19% recorded during the same quarter last year, but nearly unchanged from 49.29% in September. The bank’s credit-deposit ratio improved to 81.95% in December, up from 76.78% last year and 78.72% in June.

As of December, the government held a 79.6% stake in Bank of Maharashtra, which is 4.6% above the minimum shareholding requirement. At Tuesday’s closing price, the government’s excess stake was valued at over ₹1,800 crore.

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