Bank of Maharashtra tops among PSU banks in business growth in FY24

Daily Current Affairs / Bank of Maharashtra tops among PSU banks in business growth in FY24

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Category : Business and economics Published on: May 23 2024

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In FY24, Bank of Maharashtra (BoM) achieved the highest growth among PSU banks with a 15.94% increase in total business and a 15.66% rise in deposits, outperforming top banks like SBI.
BoM also reported the lowest gross NPAs at 1.88% and led in low-cost CASA deposits with a 52.73% growth, significantly reducing fund costs.
BoM demonstrated robust financial health with the highest capital adequacy ratio of 17.38%, underscoring its solid financial stability and effective risk management.

Bank of Maharashtra tops among PSU banks in business growth in FY24