Bank of Maharashtra top performer in NPA management during FY23

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Bank of Maharashtra (BoM) It emerged as the best bank in terms of managing bad loans with net non-performing assets (NPAs) declining to 0.25 per cent during FY23.

This is the lowest among all banks with total business above $3 crore and not just Public Sector Banks (PSBs), according to published annual figures for banks.

The Pune-based state-owned lender followed HDFC Bank With net NPA decreased to 0.27 per cent and Kotak Mahindra Bank To take the third place with 0.37 percent of net advances.

Also read: Maharashtra Bank leads the chart of PSU lenders in earnings and loan growth in FY23

On the PSB side, BoM followed before Central Bank of India (SBI) with net NAPs declining to 0.67 percent and Bank of Baroda by 0.89 percent at the end of March 2023.

BoM has provided almost entirely to NPAs and has the highest benefit coverage ratio at 98.28 percent followed by Yoko Bank by 94.50 percent and Indian Bank by 93.82 percent.

In terms of capital adequacy ratio, Bank of America has the highest capital adequacy ratio of 18.14 percent among UCAs, followed by Punjab and Sindh Bank by 17.10 percent, and Canara Bank by 16.68 percent on March 31, 2023.

In terms of loan growth, the Bank of Japan retained the first place among scheduled commercial banks by recording an increase of 29.49 percent year on year, according to published data for banks.

Also read: Maharashtra Bank advances to growth of 1.5 times banking industry average in FY24: Chairman Rajiv

Indian Overseas Bank It came in second place, with a rise of 21.28 percent, followed by IndusInd Bank 21 percent. State Bank of India showed an increase of 15.38 per cent in loans during the financial year 2013.

With regard to the growth rate of deposits, HDFC Bank took the first place with a rate of 20.80 percent, followed by Federal Bank With a rise of 17 per cent and Kotak Mahindra Bank (KMB) with a rise of 16.49 per cent.

However, in terms of low cost of current account and savings account (CASA) deposits, BoM deposits topped the chart with 53.38 percent followed by IDBI Bank with 53.02 percent and KMB with 52.83 percent.