In terms of profit and loan growth for PSU lenders in FY23, Bank of Maharashtra is at the top


Bank of Maharashtra topped the list of public sector lenders in profit and loan growth in the 2021-22 fiscal year, according to recently released data from the Reserve Bank of India (RBI). The bank posted a 44.9% jump in standalone net profit to Rs 1,006.25 crore in the fiscal year ended March 2021, from ₹ 694.77 crore in the previous fiscal year — the highest among all public sector lenders.

Bank of Maharashtra also reported a 20.5% rise in its loans to ₹ 1.69 lakh crore — the highest among all the lenders. This was followed by Union Bank of India (16.8%) and Canara Bank (14.9%) in terms of loan growth. On the other hand, the net profit of other state-run banks such as Bank of India and Bank of Baroda declined by 19.7% and 26.5%, respectively.