Bank of Maharashtra is the best performer in terms of credit growth among public sector banks in the third quarter

New Delhi. Bank of Maharashtra (BoM) has been the best performing public sector bank in terms of credit growth in the third quarter of 2022-23. This fact has emerged from the assessment of the latest financial results of public sector banks. The total loan growth of Pune-based Bank of Maharashtra stood at 21.67 per cent on a year-on-year basis in the third quarter of the current financial year. Bank of Maharashtra has been the best performer for the last 10 quarters in terms of loan growth in percentage terms. Despite the pressure of the Covid pandemic, the performance of the bank has been very good. Bank of Maharashtra was followed by Union Bank of India with a growth of 19.80 per cent in terms of loan growth.

The country’s largest lender State Bank of India (SBI) is at the fourth position with a loan growth of 16.91 per cent. However, in terms of volume, SBI’s total loan amount is almost 17 times higher at Rs 26,47,205 crore compared to BoM’s loan of Rs 1,56,962 crore. In respect of Retail-Agri-MSME (RAM) loans, BoM registered the highest growth of 19.18 per cent. After this, Punjab and Sind Bank has registered a growth of 19.07 percent and Bank of Baroda has registered a growth of 18.85 percent on annual basis. On the non-performing assets (NPAs) front too, BoM and SBI have been the best performers. BoM and SBI have NPAs of 2.94 per cent and 3.14 per cent, respectively, on total loans as on December 31, 2022. At the same time, the net NPA of these two banks was 0.47 percent and 0.77 percent respectively.

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