Bank of Maharashtra emerges leader among PSBs in deposit mobilisation in Q3

Bank of Maharashtra (BoM) has become top performer among public sector banks (PSBs) in terms of growth in deposit mobilisation in the third quarter ended in December 2021, according to an analysis.

The Pune-headquartered lender recorded a 15.21 per cent increase in total deposits at Rs 1,86,614 crore in the October-December period of 2021-22, according to the data published by the bank.

An analysis of data disclosed by various lenders for the third quarter showed that BoM was followed by Punjab & Sind Bank which posted a 10.87 per cent growth in total advances with aggregate loans at Rs 1,00,351 crore.

When it came to savings deposit mobilisation, BoM recorded an 18.33 per cent growth at Rs 80,815 crore. It was followed by Bank of Baroda that reported a 12.36 per cent rise at Rs 3,22,909 crore and State Bank of India. SBI posted an increase of 10.30 per cent.

However, in absolute terms, SBI's savings deposit base was 18 times higher at Rs 14,73,506 crore as against BoM's Rs 80,815