Financial institution of Maharashtra, UCO Financial institution report robust credit score progress in Q1

Public sector banks appear to have began FY25 on a powerful notice, clocking sturdy credit score progress, going by provisional enterprise updates of Financial institution of Maharashtra (BoM) and UCO Financial institution for the primary quarter of FY25.

Nevertheless, deposit progress of those banks continues to lag credit score progress.

BoM has reported a 19.01 per cent year-on-year (yoy) progress in gross advances and 9.44 per cent yoy progress in whole deposits in Q1FY25.

As on June-end 2024, the Pune-headquartered public sector financial institution’s gross loans stood at ₹2,09,065 crore (₹1,75,676 crore as on June-end 2023), per the financial institution’s provisional quarterly enterprise replace.

As on June-end 2024, its whole deposits stood at ₹2,67,423 crore (₹2,44,365 crore).

The share of low-cost present account, financial savings account (CASA) deposits declined to 49.86 per cent of whole deposits as at June-end 2024 towards 50.96 per cent as at June-end 2023.

The credit-deposit ratio (C-D) rose to 78.18 per cent as on June-end 2024 towards 71.89 per cent as on June-end 2023. This ratio signifies how a lot a financial institution has lent for each ₹100 deposit it has raised.

UCO Financial institution

UCO Financial institution has reported a 17.78 per cent year-on-year (yoy) progress in gross advances and seven.39 per cent yoy progress in whole deposits in Q1FY25.

As on June-end 2024, the Kolkata-headquartered public sector financial institution’s gross advances stood at ₹1.94 lakh crore (₹1.64 lakh crore as on June-end 2023), per the financial institution’s provisional quarterly enterprise replace.

Inside gross advances, home advances had been up 19.33 per cent yoy to ₹1.67-lakh crore as on June-end 2024 towards ₹1.40-lakh crore as on June-end 2023.

As of June-end 2024, the financial institution’s whole deposits stood at ₹2.68 lakh crore (₹2.50 lakh crore). Inside whole deposits, home deposits grew 5.87 per cent yoy to ₹2.55-lakh crore (₹2.41-lakh crore).

The share of low-cost home present account, financial savings account (CASA) deposits nudged as much as 38.62 per cent of whole deposits as at June-end 2024 towards 38.10 per cent as at June-end 2023.

The credit-deposit ratio rose to 72.15 per cent as on June-end 2024 towards 65.79 per cent as on June-end 2023.