BoM emerged as the top performer among the public sector lenders in terms of loan and deposit growth in percentage terms during the first quarter of 2022 -- 23. The public sector PSBs were followed by the Indian Overseas Bank and Bank of Baroda with 16.43 per cent and 15.73 per cent increases in gross advances to Rs 1,40, 561 crore at the end of June 2022, according to the published quarterly numbers of the public sector PSBs.
State Bank of India SBI, which is the country's largest lender, was fourth in the country with 13.66 per cent growth. In absolute terms, aggregate loans of SBI were about 17 times higher at Rs 24,50, 821 crore, whereas that of Bank of Baroda was nearly five times higher at Rs 6,95, 493 crore compared to BoM at the end of the first quarter.
With regard to deposit growth, BoM saw a 12.35 per cent growth and mobilised Rs 1,95, 909 crore at the end of June 2022.
The Bank of Baroda-owned Bank of India was second with a 9.42 per cent increase in deposits of Rs 9,92, 517 crore, followed by a 8.51 per cent rise in deposits at Rs 9,09, 095 crore, according to the data.
The trend may have a positive impact on the balance sheets in the coming quarters, as the public sector raked in more profits on the back of a decline in bad loans during the June quarter.
According to an analysis of the quarterly financial numbers released by the public sector lenders, the BoM and SBI were in the lowest quartile as far as gross non-performing assets NPAs and net NPAs were concerned.
All the 12 public sector reported a profit of around 15,306 crore in the three months ended June, registering an annual growth of 9.2 per cent.
Leading public sector lenders - SBI and PNB -- posted lower profits in the June quarter.
State-owned banks had a total profit of 14,013 crore during the April-June period of the previous fiscal year.
The gross NPAs reported by BoM and SBI were 3.74 per cent and 3.91 per cent of their total advances in the first quarter of the current fiscal. The net NPAs for these banks fell to 0.88 per cent and 1 per cent at the end of June.
Gross NPAs of other public sector lenders varied from 6.26 per cent to 14.90 per cent.
In the June quarter, the Bank of Baroda'sBank of Baroda's gross NPAs stood at 6.26 per cent and 14.90 per cent for the Central Bank of India, which is still under the Prompt Corrective Action PCA framework of the Reserve Bank of India.