Bank of Maharashtra Shares Surge on Robust Q4 Business Update

rashtra shares witnessed a 5% jump following the release of its strong provisional business update for the fourth quarter. The bank reported significant year-on-year (YoY) growth in key metrics, fueling investor optimism. According to the lender's data, total deposits reached ₹3.07 lakh crore, marking a 13.4% YoY increase. Quarter-on-quarter (QoQ) growth also impressed, with deposits rising by 10.1%. Advances for the quarter stood at ₹2.4 lakh crore, reflecting a substantial 17.8% YoY growth and a 5% increase compared to the previous quarter. A particularly strong performance was seen in Current Account and Savings Account (CASA) deposits, which climbed by 14.6% YoY and a remarkable 19% QoQ, bringing the total CASA amount to ₹1.63 lakh crore. This pushed the CASA ratio, a crucial indicator of low-cost deposits, to 53.3%, up from 52.7% in the same quarter last year and significantly higher than the 49.3% recorded in the preceding quarter. The bank's credit-deposit ratio stood at 78.14%, showing an improvement from 75.22% YoY, although it slightly decreased from 81.95% in the previous quarter. These provisional figures highlight Bank of Maharashtra's strong momentum in business growth and asset expansion. Despite the recent surge, the bank's stock has faced challenges over the past year, declining by nearly 34% in the last 12 months. The April rally follows five consecutive months of losses, and even with the recent rise, the stock is still down by 3% for the month.