Banks net interest income rises 25.5% in Q3; Bank of Maharashtra outruns PSBs in loan growth, asset quality2 min read 19 Feb 2023, 02:55 PM IST
Latest CARE Edge's report stated that overall scheduled commercial banks posted a robust growth of 18.5% YoY in advances. Public Sector Banks' (PSBs) net advances grew by 18.9% in the quarter whereas private banks rose by 17.9%.
Pune-based Bank of Maharashtra (BOM) surpassed other public sector lenders in terms of loan growth percentage for the third quarter of FY23. With a growth of 21.67% in gross advances year-on-year in Q3FY23, BoM tops the list amidst state-owned banks. BoM was followed by the Union Bank of India. While the country's largest lender with a growth rate of 16.91% YoY in lending platforms held the fourth spot.
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