Bank of Maharashtra Q2FY24 Con Call Highlights:

1. Financial Growth:

• Advances and deposits demonstrated robust growth, with a 24% YoY increase.
• Notable performance in key sectors: Retail advances (20% YoY), MSME (26% YoY), and Agri (30% YoY).

1. Asset Quality:

• Substantial improvement in asset quality, with NPA reduced to 2.1% from 3.4% YoY.
• Provision Coverage Ratio (PCR) stood at an impressive 98%.

1. Profitability Metrics:

• Strong profitability indicators: ROE (23%) and ROA (1.37%).
• Confident in maintaining ROA between 1.2-1.4% in the upcoming quarters.

1. Balance Sheet Strength:

• Maintaining a robust balance sheet with a Capital Adequacy Ratio (CAR) of 30%.

1. Equity Capital and Growth Plans:

• Raised equity capital during Q2 to support expansion initiatives.
• Aiming for a continued loan book growth of 20% in the coming quarters.

1. Focus Areas:

• Strategic focus on mid-corporates in sectors like pharmaceuticals, textiles, and engineering.
• Exploring opportunities in the export side of textile businesses.
• Emphasizing growth in the gold loan book with a targeted 25% increase.
• Venturing into the Electric Vehicle (EV) space, particularly lending to auto Original Equipment Manufacturers (OEMs).

1. Credit Cost:

• Anticipating minimal credit costs in the upcoming quarters.

Bank of Maharashtra showcases a resilient performance, marked by substantial growth, improved asset quality, and a strategic approach towards emerging sectors like EVs. With a strong capital base and a focus on diverse lending segments, the bank aims to sustain its growth momentum in the dynamic financial landscape.