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Performance Highlights for the Nine Months Ended 31st December 2014

Shri S. Muhnot, Chairman & Managing Director, Shri R. Athmaram & Shri R. K. Gupta, Executive Directors, Bank of Maharashtra, announced the performance highlights of the Bank immediately after the adoption of financial results for the nine months ended 31st December 2014 by the Board of Directors.

Highlights of Period Ended – December 2014 (Y-o-Y basis)

  • CASA up by 8.41% (Rs. 3222 crore)
  • CASA Share to Total Deposits : 34.72%
  • Growth in Priority Sector advances up by 22.09%
  • Retail Credit increased by 16.54% (Rs. 1658 crore)
  • Net Interest Income (NII) increased by 9.98% (Rs. 264 crore)
  • Net Interest Margin (NIM) improved to 2.85% (2.76% for Dec 13)
  •  CRAR Basel III stood at 11.31%


Results at a glance –Nine Months Ended 31.12.2014



Total Business registered a Y-o-Y growth of Rs. 10490 crore and reached Rs. 212650 crore as on 31.12.2014

Total Deposits increased Y-o-Y by Rs. 5176 crore and rose to Rs. 119650 crore as on 31.12.2014

Gross Advances increased by Rs. 5314 crore (Y-o-Y) and stood at Rs. 93000 crore as on 31.12.2014.

Operating Profit Rs.1678.69 Crore

Net Profit Rs.337.97 Crore

Total Income increased by Rs. 594.17 Crore to Rs. 10072.54 Crore.

Interest Spread increased to Rs.  2903.82 Crore recording growth of 9.98 % on Y-o-Y basis for 9M 2014-15.

Net Interest Margin (NIM) stood at 2.85 % for 9M 2014-15.

Gross NPA ratio stood at 6.65%

Net NPA ratio stood at 4.71%

CRAR Basel III stood at 11.31% as on 31.12.2014

Yield on Advances stood at 11.06 % for  9M FY 2014-15

Cost of Funds reduced to 6.42 % for 9M FY 2014-15 as compared to 6.53% for 9M of 2013-14.

Book Value per Share is Rs.65.41 as on 31.12.2014

       Performance Highlights:

  1. Total Business: Total Business of the Bank as on 31.12.2014 stood at Rs. 212650 Crore. The total business increased by Rs.10489.59 Crore from Rs.202160 Crore as on 31.12.2013.
  2. Business per Employee has gone up from Rs.13.82 Crore as at 31.12.2013 to Rs. 14.91 Crore as at 31.12.2014.
  3. Business per Branch increased to Rs.113.78 Crore as on 31.12.2014 from Rs. 109.69 Crore as at 31.12.2013.
  4. Deposits: Total Deposits of the Bank increased by Rs.5176 Crore to Rs.119650 Crore as on 31.12.2014 from Rs. 114474 Crore as on 31.12.2013.
  5. CASA Deposits: CASA Deposits have increased by Rs.3222 crores to 41521 as on 31.12.2014. The share of Current & Saving (CASA) Deposits to Total Deposits stood at 34.72% as on 31.12.2014.
  6. Advances:
  • Gross Advances increased from Rs. 87685.86 Crore as on 31.12.2013 to Rs.92999.75 Crore as on 31.12.2014.
  • Credit Deposit Ratio stood at 77.73%.
  • Priority Sector Credit increased by 22.10% to  Rs.36589.68 Crore as on 31.12.2014
  • Agricultural advances of the Bank stood at Rs.13901.48 Crore as at the end of December 2014 as against Rs.9739.27 Crore as at December 2013, showing a growth of 42.73%.
  • MSE advances of the Bank stood at Rs.14857.67 Crore at the end of December 2014 as against Rs.14156.97 Crore at December 2013, showing a growth of 4.95%.
  • Retail advances of the Bank stood at Rs.11684 Crore at the end of December 2014 as against Rs.10026.42 Crore at December 2013, showing a growth of 16.54%.




  1.   Total Income:  The total income of the Bank was up at Rs. 10072.54 Crore for the 9M 2014-15 as compared to Rs.9478.37 Crore for 9M 2013-14.
  1. Net Interest Income: The Net interest income increased by Rs.263.61 Crore from Rs.2640.21 Crore for 9M 2013-14 to Rs.2903.82 Crore for 9M 2014-15, recording an increase of 9.98% on y-o-y basis.
Asset Quality & Recovery:


  1. NPA: Gross NPA and Net NPA stood at 6.65% and 4.71%, as on 31.12.2014, respectively.

 In absolute terms the Gross NPAs stood at Rs.6186.66 Crore as on 31.12.2014. Net NPA stood at Rs.4265.44 Crore as on 31.12.2014.

  1. Provision Coverage: The NPA provision coverage ratio stood at 43.32% as at 31.12.2014


  1.  Capital Adequacy Ratio: The Capital Adequacy Ratio under Basel III norms was 11.31% as on 31.12.2014 against the regulatory requirement of 9%. 
  2. Earnings per Share (Not Annualised): The Earnings per Share is Rs.3.45 for period ended 31.12.2014. 
  1. Book Value per Share: The BVPS was at Rs 65.41 as at 31.12.2014.
Productivity Ratios:
  1. Yield on Advances:  Yield on advances stood at 11.06% for 9M FY 2014-15.
  2. Cost of Funds: Cost of funds was 6.42% for 9M FY 2014-15.
  3. NIM improved to 2.85% for 9M 2014-15 from 2.76% for 9M FY 2013-14
  4.  Cost to Income Ratio:  The Cost to Income ratio was 52.42% for 9M FY 2014-15.


Branch Network


  • The Banks network has spread across 8540 functional Units spread across 29States and 2 Union territories.
  • 1869 Branches, 1846 ATMs & 107 MahaGram Seva Kendras.


Awards & Recognition

v  Best Bank in Public Sector

v  Bank with Most Admired Services

v  Bank with Best Customer Orientation                BFSI Awards By World HRD Congress

v  Bank with Best Technology  Orientation

v  Corporate Communication Award

v  Gold Award for Use of Technology

v  Order of Merit for India’s Best Financial                   Skoch Awards

Inclusion and Deepening Projects -2014

  • Best Bank Award for Managing IT Risk among Mid Size BanksIDRBT Banking Technology Awards 2014.
  • Best MSME Bank Award- Large bank- Runner-up- BY CIMSME (Chamber of Indian Micro, Small, Medium & Medium Enterprises)


New Business Initiatives Initiatives
  •  Launched “ Purple Previleges” Account for HNIs-with features like Assistance of  Dedicated Relationship Manager, specially designed Purple Lounges, Free unlimited No. of Debit card transactions at ATMs of our Bank & any other banks, Higher Transaction Limit on ATM-cum-Debit card(per day) etc.
  • Launched Mobile Banking app- “MahaMobile” –Designed to be intuitive and user friendly, MahaMobile App will enable the Bank’s customers to view all their deposit and loan accounts, do fund transfers, bill payments and raise a variety of service requests on their mobile anytime, anywhere. 
  • Launched “MAHA e-SBTR” (e-Secured Bank & Treasury Receipt) facility for payment of Registration Fee and Stamp Duty in the state of Maharashtra.
  • Launched “Maha Secure” –A next Generation Digital Banking Solution, secured by REL-ID Technology, a high end product introduced to attract the technology savvy customers and youngsters. The Maha Secure banking app will enable secure access to internet banking facilities for both retail and corporate customers of the Bank and will protect internet banking users from sophisticated online attacks from fraudsters.
  • Launched “Maha Sarvajan Savings Bank Deposit Account”- A Basic Savings Bank Account to make basic Banking facilities available to all sections of population under all Income groups.
  •  Introduced New “ Maha Combo Loan Scheme” for House and car taken together
  • Bank of Maharashtra is the Convener of State SLBC, Maharashtra state.
  • Performance of Bank in Pradhan Mantri Jandhan Yojana (PMJDY):

SSAs/Wards:(SSAs-3051 & Wards 755) Total 3051 SSAs consisting of 10235 villages & 755 wards were allotted to bank. Bank has covered all SSAs by deployment of 2974 Business Correpondent Agents & 77 by branches also completed survey of these SSAs & Wards

No. of Accounts: bank has covered all households by opening account of one member from one family and Opened 20.08 lakh Accounts out of which 13.88 lakh accounts are Aadhar seeded. Bank is highest in AEPS transactions amongst all the banks.

Financial Indicators – I {Period Ended ended 31.12.2013 & 31.12.2014)

  9M 2013-14 (Rs. In Cr.) 9M 2014-15

 (Rs. In Cr.)  

Growth y-o-y
      Abs.        Growth %
Net Profit 329.01 337.97 8.96 2.72
Operating Profit 1539.19 1678.69 139.50 9.06
Total Income 9478.37 10072.54 594.17 6.27
Interest Income 8882.98 9448.14 565.16 6.36
Interest spread 2640.21 2903.82 263.61 9.98
Non Interest Income 595.39 624.40 29.01 4.87
Cost to Income (%) 52.43 52.42    
Staff Expenses to AWF 1.17 1.19    
Business per Branch 109.69 113.78    

                                                                                                                                    (Rs. In Cr.)

  As At Growth Y-o-Y
31.12.2013 31.12.2014 Absolute % age
Deposits 114474.25 119649.95 5175.71 4.52
Advances (Gross) 87685.86 92999.75 5313.89 6.06
Total Business 202160.11 212649.70 10489.59 5.19
Investments (Gross) 36450.09 36971.28 521.19 1.43
Gross NPAs (as % to gross advances) 4.01 6.65    
Net NPAs (as % to gross advances) 2.56 4.71    


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