Bank of Maharashtra has reported strong growth on both the credit and the deposit front in the quarter ended March even as its total business has crossed the Rs 4 lakh crore milestone.

The state-owned bank has posted a credit growth of 29.59% at Rs 1.75 lakh crore for the March quarter.

The outstanding credit was Rs 1.35 lakh crore at the end of March 31, 2022, BoM said in a regulatory filing.

The Pune-headquartered lender posted a 21.28% growth in total business (total advances and total deposits) to end March 2023 with Rs 4.09 lakh crore. In the year-ago period, the bank’s total business was at Rs 3.37 lakh crore.

Total deposits grew 15.7% to Rs 2.34 lakh crore versus Rs 2.02 lakh crore at the end of the fourth quarter of the previous financial year.

During the quarter, CASA (current account and savings account) stood at 53.39% of the total deposits.

The bank’s credit-to-deposit (CD) ratio rose to 74.87% at the end of 31 March 2023, compared with 66.85% a year ago.

The bank’s gross investment stood at Rs 69,215 during the fourth quarter of the financial year 2022-23.