Where the condition of the banking sector is bad all over the world. At the same time, not only private but government banks are also earning huge profits in India. Bank of Maharashtra’s net profit has increased by 135 percent in the January-March quarter of the financial year 2022-23. The bank has booked a profit of Rs 840 crore in this period.

If we look at the bank’s figures correctly, then the net income of the bank has increased by 35 percent to Rs 2,187 crore only from interest. It was Rs 1,612 crore in the same quarter of the previous financial year 2021-22. While the bank had earned a profit of 355.2 crores at that time.

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Bank’s NPA reduced

During this period the bad loans of the bank have come down. The gross NPA of the bank has been 2.47 percent of its gross loan. This is less than the October-December period. Then the gross NPA of the bank was 2.94 percent. Similarly, the Net NPA of the bank has also come down to 0.25 percent. It was 0.47 percent in the October-December quarter.

Amount set aside for NPA

During this period, the bank has increased the provision of amount for bad loans. It has been Rs 945 crore, which is 62 percent more than the provision of Rs 582 crore in the October-December quarter. While it was Rs 365.4 crore in the fourth quarter of the financial year 2021-22. Compared to this, the current amount is 158 percent more.

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Bank will give 13% dividend on every share

The board of Bank of Maharashtra has also announced dividend to its shareholders. On every share with face value of Rs 10, a dividend of 13 percent ie Rs 1.3 will be given by the bank. Along with this, the board of the bank has also given permission to raise Rs 7500 crore from debt and equity.