Shri S. Muhnot, Chairman & Managing Director, Shri R. Athmaram & Shri R. K. Gupta, Executive Directors, Bank of Maharashtra, announced the performance highlights of the Bank immediately after the adoption of financial results for the Quarter ended 30th June 2014 by the Board of Directors.

Results at a glance – Q1 of FY 2014-15

Operating Profit for Q1 2014-15 was Rs. 471.36 crore compared to Rs.698.92 crore for Q1 2013-14.

Net Profit for Q1 2014-15 was at Rs. 117.82 crore as compared to Rs.266.33 crore for Q1 2013-14.

Total Income increased by Rs.311.81 crore to Rs.3286.12 crore recording growth of 10.48% over Q1 2013-14

Interest Spread for Q1 2014-15 increased to Rs.914.54 crores.

Net Interest Margin (NIM) was 2.70% for Q1 2014-15.

Non-Interest Income for Q1 2014-15 was Rs.190.43 crores.

Gross NPA ratio stood at 4.23%

Net NPA ratio stood at 2.94%

Gross Advances increased by 7.02% to Rs.88834.56 Crore as at 30.06.2014 over Q1 2013-14

Total Deposits up by 10.35% to Rs.116364.77 Crore as at 30.06.2014 over Q1 2013-14

Total Business increased by 8.88 % to Rs.205199.33 Crore as at 30.06.2014 over Q1 2013-14

Business per Employee stood at Rs.14.69 Crore as on 30.06.2014 against Rs.12.97 Crore as on 30.06.2013

CRAR Basel III stood at 10.75% as on 30.06.2014

Yield on Advances stood at 10.89% for Q1-FY 2014-15

Cost of Funds stood at 6.44 % for Q1-FY 2014-15

Cost to Income stood at 57.34% for the Q1-FY 2014-15

Book Value per Share was Rs.68.34 as on 30.06.2014

Performance Highlights:

1.      Total Business: Total Business of the Bank as on 30.06.2014 stood at Rs.205199.33 crore. The total business increased by Rs.16742.24 crore from Rs.188457.09 Crore as on 30.06.2013 registering a growth of 8.88% on y-o-y basis.

2.      Business per Employee has gone up from Rs. 12.97 crore as at 30.06.2013 to  Rs. 14.69 crore as at 30.06.2014.

3.      Business per Branch was at Rs.110.44 crore as on 30.06.2014 as against Rs. 109.57 crore as on 30.06.2013.

4.      Deposits: Total Deposits of the Bank increased by Rs.10918.12 crore to Rs.116364.77 crore as on 30.06.2014 from Rs. 105446.65 crore as on 30.06.2013 recording a growth of 10.35% on y-o-y basis.

The share of Current & Saving (CASA) Deposits to total deposits stood at 34% as on 30.06.2014.

5.      Advances:

Ø  Gross Advances increased from Rs.83010.44 crore as on 30.06.2013 to                Rs.88834.56 crore as on 30.06.2014 recording growth by Rs.5824.12 Crore (7.02%) on y-o-y basis.

Ø  Credit Deposit Ratio stood at 76.34%.

Ø  Priority Sector Credit stood at Rs.35453.56  crore as of 30.06.2014

Ø  Agricultural advances of the Bank stood at Rs. 12922.75 crore as of 30.06 2014 as against Rs.8513.18 crore as at June 2013, showing a growth of 51.79%.

Ø  MSE advances of the Bank stood at Rs. 14761.41 crore at the end of June 2014 as against Rs.12483.25 crore at June 2013, showing a growth of  18.25%.

Ø  Retail advances of the Bank stood at Rs.11239.92 crore at the end of June 2014 as against Rs. 8572.40 crore at June 2013, showing a growth of 31.12%.

Income:

1.      Total Income:  The total income of the Bank was at Rs.3286.12 crore for the Q1 2014-15 as compared to Rs. 2974.31crore for Q1 2013-14 showing an increase of Rs.311.81 crore [10.48%] on y-o-y basis.

2.      Net Interest Income: The Net interest income increased by Rs.6.52 crore from Rs.908.02 crore in Q1 2013-14 to Rs.914.54 crore in Q1 2014-15. The Net interest Margin (NIM) was 2.70% as of 30.06.2014.

3.       Non-Interest Income: The non-interest income was Rs.190.43 crore

1.   Asset Quality & Recovery:

NPA:  Gross NPA stood at 4.23% as on 30.06.2014. Net NPA is 2.94 % at Q1 2014-15.

In absolute terms the Gross NPAs stood at Rs.3761.29 Crore as on 30.06.2014.

Net NPA stood at Rs.2563.19 Crore as on 30.06.2014

2.    Provision Coverage: The NPA provision coverage ratio stood at 49.73 % as at 30.06.2014

Capital:

 

1.    Capital Adequacy Ratio: The Capital Adequacy Ratio under Basel III norms was at 10.75 % as on 30.06.2014 against the regulatory required level of 9.00%.

2.    Earnings per Share (Not Annualised): The Earnings per Share was Rs.1.40 as at 30.06.2014.

3.    Book Value per Share: The BVPS was at Rs. 68.34 as on 30.06.2014

Productivity Ratios:

1.    Cost to Income Ratio:  The Cost to Income ratio was 57.34% for Q1 2014-15.

2.    Yield on Advances:  Yield on advances was 10.89%  for Q1 2014-15

Branch Network

Cost of Funds: Cost of funds was 6.44% for Q1 2014-15.

Ø  The Bank’s network has spread across 7670 functional Units spread across 29 States and 2 Union territories.

Ø  1858 Branches, 1829 ATMs & 107 MahaGram Seva Kendra.

Awards & Recognition

v  Best Bank in Public Sector

v  Bank with Most Admired Services

v  Bank with Best Customer Orientation                BFSI Awards By World HRD Congress

v  Bank with Best Technology  Orientation

v  Corporate Communication Award

v  Gold Award for Use of Technology

v  Order of Merit for India’s Best Financial                   Skoch Awards

Inclusion and Deepening Projects -2014

New Business Initiatives

Ø  Launched MAHA e-SBTR (e-Secured Bank & Treasury Receipt) facility for payment of Registration Fee and Stamp Duty in the state of Maharashtra.

Ø  Launched MahaSecure –A next Generation Digital Banking Solution, secured by REL-ID Technology, a high end product introduced to attract the technology savvy customers and youngsters. The MahaSecure banking app will enable secure access to internet banking facilities for both retail and corporate customers of the Bank and will protect internet banking users from sophisticated online attacks from fraudsters.

Ø  Tie up arrangement with M/s Netafim Irrigation India Pvt. Ltd for financing farmers for purchase of “Sprinklers” and “Drip” irrigation sets.

Ø  Tie up arrangement with M/s Commercial Vehicles Ltd for promoting commercial vehicle finance.

Source : Lokesh Shastri