Mumbai, January 24: The Bank of Maharashtra (BoM) posted a 72% inclination in net profit whereas declaring their third-quarter outcome on Friday, in the city.
Further the highlights of the bank’s operation comprise of an inclination in operating profit by 42% estimated on a yearly basis and an inclination in net interest income by 55%.
Broadcasting the outcomes to the media persons, chairman and managing director of the bank, AS Bhattacharya, stated that the bank is firm to attain a business of Rs1.20 lakh crore in 2011.
On the other hand, the bank posted a plummet of 13% in net profit estimated on a yearly basis. Net profit that was Rs 300.51 crore during Dec 2009 slipped to Rs 260.98 crore during Dec 2010.
Amplifying the jump down, Bhattacharya stated that the drop down is an outcome of provisions prepared by them to harmonize Rs125 crore in the previous year.
As per Bhattacharya, the bank had managed in so far as Rs10 crore of non-performing assets (bad loans) in merely one week via exclusive micro asset recovery cells in Satara, Solapur, Aurangabad, Latur, and Nashik district offices.
–Agencies–