Banks News: Quarterly data has come on which government bank or PSU Banks are at the forefront in terms of loan growth. Under this, the performance of banks has been kept on various parameters and in this case the bank which has been ranked first may surprise you. Among public sector banks, Bank of Maharashtra (BoM) has been at the forefront in terms of percentage loan growth in the second quarter of FY 2022-23. According to the quarterly data of public sector banks, gross advances of BoMs grew by 28.62 per cent to Rs 1,48,216 crore in the July-September 2022 quarter.
Know which bank is in second and third place
After that Union Bank of India’s percentage growth rate was 21.54 percent and it allocated loans worth Rs 7,52,469 crore in the quarter. State Bank of India (SBI) stood at the third position with a loan growth rate of 18.15 per cent and disbursed total loans of Rs 25,47,390 crore.
BoM remains number one in terms of retail, agriculture and MSME loans too
BoM also registered the highest growth rate of 22.31 per cent in terms of retail, agriculture and MSME (RAM) loans in the second quarter while Bank of Baroda grew by 19.53 per cent and SBI by 16.51 per cent.
Low Cost Current Account Savings Schemes
As far as low cost current account savings account deposits are concerned, BOM achieved the highest growth rate of 56.27 per cent. It was followed by the Central Bank of India with a growth of 50.99 per cent.
Bank of Maharashtra shines in terms of net interest margin too
Both BoM and SBI have quoted 3.55 per cent rate in terms of net interest margin (NIM), which is considered a key indicator of profit making. achieved. They were followed by Bank of India at second place with 3.49 per cent and Central Bank of India at third place with 3.44 per cent NIM.
Look at NPA figures
An analysis of the quarterly data reveals that BoM’s performance on the gross non-performing assets (NPAs) front stood at 3.40 per cent of total advances while SBI The gross NPA of the company stood at 3.52 per cent of its total advances. The net NPA of these two banks has been 0.68 per cent and 0.80 per cent respectively in this quarter.