09-May-2024
Banking
 
Bank of Maharashtra Q4 PAT UP 45%; higher NII, other income boosts profit
27-Apr-2024

Public sector lender Bank of Maharashtra on Friday reported 45% year-on-year (y-o-y) increase in its net profit for the quarter ended March 31 at Rs 1,218 crore, driven by robust growth in core income. In Q4FY24, the bank’s net interest income surged by 18% y-o-y to Rs 2,584 crore. Additionally, the net interest margin (NIM) expanded by 2 basis points quarter-on-quarter (q-o-q) to 3.97% in Q4, with expectations to remain within the 3.7%-3.9% range in FY25, according to MD & CEO Nidhu Saxena during the post-earnings conference.

News Source:- https://www.financialexpress.com/business/industry-bank-of-maharashtra-q4-pat-up-45-higher-nii-other-income-boosts-profit-3469833/
 
 
 

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