NEWS & ADVICE : CAR LOANS
BoM attains more than Rs 1,14,000 cr biz last FY
By Vaibhav Aggarwal
May 2, 2011
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Public sector lender, Bank of Maharashtra has achieved a total business of Rs 114332.15 crore in the fiscal last ended. On a y-o-y basis, the bank booked 9.69% growth in profits with Rs 1,04,230.22 crore business done in the fiscal prior to that.

The net profit of the bank last fiscal was Rs 330.38 crore even after it let away Rs 493.50 crore under Accounting Standard AS-15 for employee benefit, said CMD of the bank, A S Bhattacharya.

According to him the major blockades to profit were factors like provision of 5% on sub-standard advances over and above the minimum provision of 10%, depreciation of Rs 136.38 crore incurred on investment, and decline in trading profits.


 


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