Bank of Maharashtra shows sustained Performance Q2 Net quadruples to Rs. 163 Crore

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NewZNew (Chandigarh) : Bank of Maharashtra’s net profit in second quarter ended September more than trebled to Rs 162.91 crore on rise in other income and drop in bad loans provisioning.

Total income in the quarter grew 6.9% to Rs. 3,419.56 crore compared with Rs 3,196.56 crore last year. Pune based state lender’s net profit in the corresponding in the July-September quarter of the previous fiscal stood at Rs. 46.85 crore.

Net Interest Income (NII) grew 13.1% year on year to Rs 991.5 crore and the Net Interest Margin (NIM) stood at 2.9%. The bank also saw its other income rise 21.9% to Rs 222 crore in Q2. Income from wholesale and corporate banking operations increased to Rs 1,635 crore from Rs. 1,567.56 crore a year ago.

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