Bank Of Maharashtra
In the case of retail sector loans, BoM registered a growth of about 25.61 percent, which was more than the country’s largest bank SBI.
New Delhi. Bank of Maharashtra ie BoM (Bank of Maharashtra) topped the public sector banks in the financial year 2020-21 in terms of growth in loans given to retail and micro, small and medium enterprises (MSMEs). This Pune-based bank showed a huge increase of 35 percent in MSME loans in 2020-21. The bank gave loans worth Rs 23,133 crore in the financial year 2020-21 for the units of MSME sector.
Chennai’s Indian Bank stood second. It gave a total loan of Rs 70,180 crore to the MMME sector with a growth of 15.22 percent. In the case of retail sector loans, BoM registered a growth of about 25.61 percent, which was more than the country’s largest bank State Bank of India. SBI registered a growth of 16.47 per cent in this segment.
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In the total loan given to the retail sector, SBI gave 30 times more loan than BoM in terms of amount. BoM gave a total loan of Rs 28,651 crore in this segment while SBI gave a loan of 8.70 lakh crore. According to the data, in the last financial year, the loan given by Bank of Baroda to the retail sector saw an increase of 14.35 percent and it gave a total loan of 1.20 lakh crore.Also read- Indian Railways: Railways increased the frequency of many trains, now tickets will be easily available, see list here
Let us inform that in the financial year 2020-21, Bank of Maharashtra’s single net profit increased by 42 percent to Rs 550.25 crore as compared to Rs 388.58 crore in the previous financial year.