Bank of Maharashtra tops in loan growth among PSU lenders.

June 3, 2022

State-owned Bank of Maharashtra (BoM) has emerged as the top performer among public sector lenders in terms of loan and deposit growth in percentage terms during 2021-22.
The Pune-headquartered lender recorded a 26% increase in gross advances at `1,35,240 crore at the end of March 2022.
It was followed by State Bank of India and Union Bank of India with 10.27% and 9.66% growth, respectively.
However, in absolute terms, aggregate loans of SBI were nearly 18 times higher at `24,06,761 crore, while Union Bank of India’s five times higher at `6,99,269 crore compared to that of BoM’s at the end of Q4FY22.
With regard to deposit growth, BoM witnessed a 16.26% growth and mobilised `2,02,294 crore at the end of March 2022.
Union Bank of India was second with an 11.99% growth in deposits (`10,32,102 crore) while Indian Bank recorded a 10% increase at `5,84,661 crore, according to the published data.
Business growth of BoM was also the highest at 20% at `3,37,534 crore followed by Union Bank of India at 11.04%