Bank of Maharashtra : Press Release on Performance of the Bank for the Quarter ended 30th June 2024

AX1/ISD/STEX/64/2024-25	Date: 15th July, 2024
The General Manager	The Vice President
Department of Corporate Services,	Listing Department,
BSE Ltd.,	National Stock Exchange of India Ltd.,
P.J Towers,	Exchange Plaza,
Dalal Street, Fort,	Bandra Kurla Complex,
Mumbai-400 001	Bandra (East), Mumbai-400 051
BSE Scrip Code: 532525	NSE Scrip Code: MAHABANK
Dear Sir/ Madam,

Sub: Press Release on Performance of the Bank for the Quarter ended 30th June, 2024

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find herewith the enclosed copy of Press Release with regard to the Financial Results of the Bank for the Quarter ended 30th June, 2024.

A copy of the Press release is also uploaded on the Bank's website i.e.

www.bankofmaharashtra.in

Kindly take the same on your records.

Thanking you.

Yours faithfully,

For Bank of Maharashtra

VIJAY PRAKASH SRIVASTAVA

Digitally signed by

VIJAY PRAKASH SRIVASTAVA Date: 2024.07.15 13:36:38 +05'30'

(V P Srivastava)

Chief Financial Officer

Encl: As above

प्रधान कार्ाालर्/ Head Office: "Lokmangal", 1501, Shivajinagar, Pune - 411005

टेली/Tel.: [phone] ईमेल/ Email: [e-mail] वेबसाइट/ Website: www.bankofmaharashtra.in

Head Office, Lokmangal

1501, Shivaji Nagar, Pune 411005

020- 25614324

[e-mail]

PRESS RELEASE

Date: 15th July, 2024

FINANCIAL RESULTS FOR THE QUARTER ENDED 30th JUNE, 2024

Results at a Glance

Quarter ended 30th June, 2024 vis-a-vis Quarter ended 30th June, 2023

• Total Business grew by 13.43% to ₹ 476,447 crore.
• Total Deposits up by 9.43% to ₹ 267,416 crore.
• CASA stood at level of 49.86% of Total Deposit.
• Gross Advances increased by 18.99% to ₹ 209,031 crore.
• CD Ratio increased to 78.17%
• Gross NPA improved to 1.85% as on 30.06.2024.
• Net NPA improved to 0.20% as on 30.06.2024.
• Provision Coverage Ratio is 98.36%.
• Net Profit up by 46.64% to ₹ 1,293 Crore.
• Operating profit increased by 23.14% to ₹ 2,294 Crore.
• Net Interest Income increased by 19.63% to ₹ 2,799 crore.
• Net Interest Margin (NIM) improved to 3.97% as on 30.06.2024.
• Other Income increased by 42.16% to ₹ 894 crore.
• Cost to Income Ratio stood at 37.87%.
• Return on Assets (ROA) improved to 1.72%.
• Return on Equity (RoE) has improved to 27.62%.
• CRAR improved to 17.04% of which Tier I is 13.40%.

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Head Office, Lokmangal

1501, Shivaji Nagar, Pune 411005

020- 25614324

[e-mail]

Profitability

• Net Profit up by 46.64% to ₹ 1,293 crore in Q1FY25 on Y-o-Y basis as against ₹ 882 crore for Q1FY24.
• Operating Profit improved to ₹ 2,294 crore for Q1FY25 as against ₹ 1,863 crore for Q1FY24.
• Net Interest Income (NII) grew by 19.63% on Y-o-Y basis to ₹ 2,799 crore in Q1FY25 as against ₹ 2,340 crore for Q1FY24.
• Fee based income increased by 12.15% on Y-o-Y basis to ₹ 368 crore for Q1FY25.
• Non-InterestIncome improved to ₹ 894 crore in Q1FY25 as against ₹ 629 crore for Q1FY24.
• Cost to Income Ratio stood at 37.87% for Q1FY25 as against 37.23 % for Q1FY25.
• Return on Assets (ROA) improved to 1.72% for Q1FY25 as against 1.33% for Q1FY24.
• Return on Equity (ROE) also improved to 27.62% for Q1FY25 against 23.73% for Q1FY24.

Advances

• Gross Advances grew by 18.99% on Y-o-Y basis to ₹ 209,031 crore in Q1FY25 as against
  ₹ 175,676 crore in Q1FY24.
• RAM (Retail, Agri. & MSME) Business improved to 61.05% of Gross Advances. Retail advances grew by 18.26% to ₹ 53,161 crore on Y-o-Y basis. MSME advances grew by 26.15% on Y-o-Y basis to ₹ 42,561 crore.

Capital Adequacy:

• Total Basel III Capital adequacy ratio improved to 17.04% with Common Equity Tier1 ratio of 12.20% for Q1FY24.

Asset quality:

• Gross NPA improved to 1.85% as on 30.06.2024 against 2.28% as on 30.06.2023. The same was 1.88% as on 31.03.2024.
• Net NPA improved to 0.20% as on 30.06.2024 against 0.24% as on 30.06.2023. The same was 0.20 % as on 31.03.2024.
• Provision Coverage ratio stood at 98.36% as on 30.06.2024 as against 98.37% as on 30.06.2023. The same was 98.34% as on 31.03.2024.

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												Head Office, Lokmangal
										1501, Shivaji Nagar, Pune 411005
														020- 25614324
											[e-mail]
Top Line Business														(₹ in crore)
	Particulars				As on					Growth (%)
				Jun 23		Jun 24						Y-o-Y
Total Business		420,041			476,447				13.43
Deposits		244,365			267,416				9.43
of which CASA		124,547			133,334				7.06
CASA Share (%) to Total Deposit		50.97			49.86
Gross Advances		175,676			209,031				18.99
Profitability														(₹ in crore)
	Particulars			Quarter Ended		Change (%)
			Jun 23		Mar 24		Jun 24		Y-o-Y
Total Income		5,417		6,488	6,769		24.94
Total Expenses		3,554		4,278	4,475		25.89
Operating Profit		1,863		2,210	2,294		23.14
Provisions & Cont. other than		776		943	951		22.47
taxes
Profit before tax		1,087		1,267	1,343		23.61
Tax Expense		205		49	50		(75.45)
Net Profit		882		1,218	1,293		46.64
Balance Sheet														(₹ in crore)
	LIABILITIES						As on
					Jun 23			Jun 24
Capital							7,081		7,081
Reserves and Surplus							10,411		14,083
Deposits							244,365		267,416
Borrowings							6,618		9,448
Other Liabilities & Provisions							6,277		7,204
						TOTAL		274,754		305,232
	ASSETS
Cash and Balances with Reserve Bank of India				21,172		14,350
Balances with Banks and Money at Call & Short Notice		566		142
Investments							72,035		76,374
Advances (Net)							172,083		205,573
Fixed Assets							2,143		2,245
Other Assets							6,755		6,548
						TOTAL		274,754		305,232

A presentation for investor is being separately placed on the Bank's website www.bankofmaharashtra.in

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