The lender on Monday reported a two-fold jump in its standalone profit after tax (PAT) at Rs 775 cror in Q3FY23 from Rs 325 crore in Q3FY22. Gross NPAs declined to 2.94% of total advances compared with 4.73% in the year-ago quarter. Total income increased to Rs 4,770 crore in the latest December quarter from Rs 3,893 crore in the year-ago period.At the same time, net NPAs eased below 1% to 0.47%, as against 1.24% in the same period a year ago. .
Why do you do all these outreach programmes? Is there any particular target?
Asheesh Pandey: We are growing at a very good rate, a reasonable rate and we are also ahead of the curve. We started the outreach from the first week of May 2022 just after the annual result on 28th of April. It is not only the credit growth, I would say it is the quality of the asset as well.
As far as the current scenario is concerned, the interest rates are rising and it may rise further as per the RBI policy which is due in February now. In the current environment, the biggest problem for banks is the gap between deposit and credit growth. You have already clocked 21% in provisional numbers. How are you going to garner deposits?
One of the good things in the outreach programme is the trust and belief and loyalty of Bank of Maharashtra customers. Typically, my CASA is in the range of 50% to 54%, which is the average and that is the real good base of the customer which Bank of Maharashtra is having.
We have had tier II and tier I twice and with all support of our customers and stakeholders, we could get it subscribed within no time and at a very good rate. We are at above level 17 of capital adequacy and recently we conducted even the tier I. We are comfortable with the range but then as a board, already the approval is in place.
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