Bank of Maharashtra, a state-owned bank, reported a robust 34% increase in profit, reaching Rs 1,036 crore in Q3 2023. Compared to the previous year’s Rs 775 crore, this marks a substantial rise. The total income for the quarter rose to Rs 5,851 crore from Rs 4,770 crore in the same period last year. BoM’s interest income reached Rs 5,171 crore, up from Rs 4,129 crore a year ago. The bank also demonstrated effective asset quality management by reducing gross NPAs to 2.04% and net NPAs to 0.22% by December 2023.
Bank of Maharashtra Records 34% Profit Surge in Q3 2023
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