Bank of Maharashtra Share Price: Bank of Maharashtra Managing Director (MD) Nidhu Saxena said that the net interest margin (NIM) increased to 3.98 percent as against 3.88 percent in the same quarter a year ago.
Bank of Maharashtra Q2 Result: Public sector giant Bank of Maharashtra (BoM)'s net profit jumped 44 per cent to Rs 1,327 crore in the July-September quarter of the current financial year. The company's profit has increased mainly due to increase in interest income. The bank had recorded a net profit of Rs 920 crore in the same quarter a year ago. In the information given to the stock market by BOM, it was said that during the quarter under review, its total income increased to Rs 6,809 crore, which was Rs 5,736 crore in the July-September quarter of 2023-24 last year.
The bank's NIM increased to 3.98 percent
Bank of Maharashtra Managing Director (MD) Nidhu Saxena said that the net interest margin (NIM) increased to 3.98 percent, which was 3.88 percent in the same quarter a year ago. He said that Bank of Maharashtra has the highest net interest margin (NIM) among the 12 public sector banks. Saxena said that the bank expects that the net profit of the bank will cross Rs 5,000 crore during the current financial year. The total non-performing asset (NPA) of the bank came down to 1.84 percent in the September quarter of the current financial year 2024-25, which was 2.19 percent in the same quarter of 2023-24 a year ago.
NPA also declined,
net NPA i.e. bad loan came down to 0.20 percent, which was 0.23 percent in the same quarter a year ago. Meanwhile, the bank's cost to income ratio remained stable at 38.81%, which reflects stable cost management. Return on assets (ROA) improved to 1.74% and return on equity (ROE) increased to 26.01%. Capital Adequacy Ratio (CRAR) was recorded at 17.26%, with Tier I capital at 13.13%. Bank of Maharashtra's net profit for the half year ended September 30, 2024 increased by Rs 818 crore. It increased to Rs 2,620 crore as against Rs 1,802 crore last year.
Share Status:
After the release of Bank of Maharashtra's results, its shares are expected to rise. On Tuesday, after the results were announced, the bank's shares closed at Rs 54.38 on BSE with a gain of 22 paise. The share's 52-week record high is Rs 73.50 and record low is Rs 38.69. Now once again the stock is expected to rise. With this, the bank's market cap reached Rs 41,826 crore.
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