Bank of Maharashtra tops list of PSU lenders in Q1 loan, deposit growth

Bank of Maharashtra (BoM) has emerged as the top performer among the public sector lenders in terms of the loan and deposit growth in

percentage terms during the first quarter of 2022-23.

The Pune-headquartered lender recorded a 27.10 per cent increase in gross advances to Rs 1,40,561 crore at the end of June 2022, according to published quarterly numbers of the public sector banks (PSBs).

It was followed by the Indian Overseas Bank and Bank of Baroda with 16.43 per cent and 15.73 per cent rise in advances growth, respectively.

The country's largest lender State Bank of India (SBI) stood at the fourth spot with 13.66 per cent growth. However, in absolute terms, aggregate loans of SBI were about 17 times higher at Rs 24,50,821 crore, while that of Bank of Baroda was nearly five times at Rs 6,95,493 crore compared to BoM at the end of the first quarter.

With regard to deposit growth, BoM witnessed a 12.35 per cent growth and mobilised Rs 1,95,909 crore at the end of June 2022.

Unio