Bank of Maharashtra has emerged as the best bank as far as management of bad loans is concerned with its net non-performing assets falling as low as 0.25% during the financial year ended March 2023.
This is the lowest ratio among all banks having total business above Rs 3 lakh crore and not just public sector banks, according to published yearly numbers of banks.
The Pune-based state-owned lender was followed by HDFC Bank with net NPA falling to 0.27% and Kotak Mahindra Bank clinching the third spot with 0.37% of net advances.
On the PSB side, BoM was followed by the country's biggest lender State Bank of India with net NPAs falling to 0.67% and Bank of Baroda at 0.89% at the end of March 2023.
BoM has provided almost completely for the NPAs and has the highest Provision Coverage Ratio at 98.28% followed by UCO Bank at 94.50% and Indian Bank at 93.82%.
With regard to Capital Adequacy Ratio, BoM has the highest CAR of 18.14% among PSBs followed by Punjab & Sind Bank at 17.10% and Canara Bank at 16.68% as on March 31, 2023.
In terms of loan growth, BoM retained the top spot among the scheduled commercial banks by recording a 29.49% increase on an annual basis, as per the published data of banks.
Indian Overseas Bank stood at second spot with a rise of 21.28% followed by Indusind Bank 21%. The country's largest lender State Bank of India has shown 15.38% rise in loans during FY'23.
With regards to deposits growth rate, HDFC Bank was at the first spot with 20.80%, followed by Federal Bank with 17% rise and Kotak Mahindra Bank with 16.49% rise.
However, in terms of low-cost Current Account and Savings Account deposits BoM topped the chart with 53.38% followed by IDBI Bank with 53.02% and KMB at 52.83%.
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