Bank of Maharashtra | Bank of Maharashtra’s fourth quarter net profit more than doubles to Rs 840 crore

Symbolic picture New Delhi: The net profit of the public sector Bank of Maharashtra has more than doubled to Rs 840 crore in the fourth quarter of the last financial year 2022-23 ended on 31 March. The profit of the bank has increased due to reduction in bad loans and increase in interest income. BoM gave this information in the information sent to the stock exchanges on Monday. In the March quarter of the previous financial year i.e. 2021-22, the bank had earned a net profit of Rs 355 crore. The total income of the bank also increased to Rs 5,317 crore from Rs 3,949 crore in the quarter under review. Also read its interest income during this period also increased to Rs 4,495 crore. 3,426 crore in the same period a year ago. Gross non-performing assets (NPAs) of the bank to come down to 2.47 per cent of total loans as on March 31, 2023. By March 31, 2022, it was 3.94 percent. During this period the net NPA of the bank also decreased from 0.97 percent to 0.25 percent. (agency)

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