1. Opening Hook
While most PSU banks still celebrate crossing 1% ROA like it’s a festival bonus, Bank of Maharashtra just walked in with ₹1,779 crore quarterly profit, dropped a 23.8% ROE, and approved an interim dividend—without blinking. All this while consciously rejecting high-cost deposits and letting the CD ratio climb like it owns the regulator’s comfort zone.
Management sounded less like a cautious PSU and more like a fintech with a branch license. CASA still above 50%, NPAs flirting with statistical insignificance, and gold loans growing faster than wedding season demand. The tone wasn’t defensive—it was smug.
Read on, because beneath the calm delivery sits one of the cleanest balance sheets in PSU banking, aggressive retail execution, and a CEO who clearly believes the best quarters are still ahead.
2. At a Glance
- Net profit ₹1,779 cr – PSU banks usually whisper this number; MahaBank announced it loudly.
- 9M profit ₹5,005 cr – Management casually crossed a psychological milestone.
- ROA 1.86% – Private banks nod approvingly.
- ROE 23.79% – PSU stereotype officially cancelled.
- GNPA 1.60% / NNPA 0.15% – Asset quality entering academic-case territory.
- CASA ~50% – Even after rate wars, discipline survived.
3. Management’s Key Commentary
“We are well above our guidance on all parameters.”
(Translation: We set targets conservatively… and smashed them 😏)
“We are consciously letting go of high-cost bulk deposits.”
(Translation: CD ratio can climb; margins matter more)
“Retail loans are growing across home, vehicle, and gold.”
(Translation: PSU banking, now with retail aggression)
“Gold loans have reached ₹22,000 crore including co-lending.”
(Translation: Yellow metal = low risk, high dopamine)
“Treasury loss is a one-off due to RRB amalgamation.”
(Translation: Don’t panic, normalize the spreadsheet)
“Cost-to-income remains below 40%
