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.