Bank of Mahartashtra registers 5 fold rise in net profit in Q2

Mumbai, Oct 19 (UNI) The net profit of Bank of Maharashtra during the second quarter of the current fiscal increased to Rs 61.29 crore as against Rs 12.35 crore for the corresponding period during last year, thus registering a five fold growth.

The operating profit increased to Rs 120.46 crore for the second quarter as against Rs 96.93 crore for trhe corresponding period during last year registering a growth of 24.28 per cent, a bank's release issued here today said.

The bank registered a robust growth in its core operations and its advances portfolio grew by 37 per cent over the corresponding period during last year. The total business of the bank achieved a level of Rs 48,692 crore registering a rise of 20 per cent on year-to-year basis.

The bank has embarked on implementation of core banking solutions (CBS) in 600 branches and by the end of current financial year, 100 branches will be brought under CBS.

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