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Bank of Maharashtra’s advances grow 27 pc to Rs 1.36 lakh crore in FY22

Public sector lender Bank of Maharashtra on Monday said it has witnessed over 27 per cent growth in gross advances at Rs 1,36,733 crore during the financial year 2021-22, while deposits grew by 16 per cent to Rs 2,02,641 crore. In FY21, the gross advances of the bank stood at Rs 1,07,654 crore and the deposits were worth Rs 1,74,006 crore, the bank said in its latest provisional data.

The total business of the Pune-based bank rose by 20.49 per cent to Rs 3,39,374 crore year-on-year as of March 31, 2022 as against Rs 2,81,660 crore in the year ago period, the bank said in a regulatory filing.

Meanwhile, private sector lender IDFC First Bank said its total deposits rose by 12.6 per cent to Rs 93,138 crore at the end of FY22, and its gross funded assets grew by 12.8 per cent to Rs 1,32,067 crore.

The bank’s retail business, which includes home loans, loan against property, vehicle loans, consumer loans and credit cards, and its commercial business (SME banking, business loans and commercial vehicles) grew by 26.4 per cent year-on-year as of March 31, 2022, IDFC First Bank said in a regulatory filing.

The retail loan growth was led by an increase in its home loan book which registered a jump of 52.1 per cent.

The bank said its retail business represents 63.4 per cent of the bank’s overall funded assets while the commercial business constitutes 8.8 per cent.

The infrastructure loan which constitutes 5.2 per cent of the overall loan declined by 36.2 per cent at end of March 31, 2022. Corporate loans grew 6 per cent year-on-year. Corporate loans and credit investments constitutes 22.6 per cent of the total funded exposure, IDFC First Bank said.

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