BoM reports ₹397 cr loss in Q1 over bad loans
The Bank of Maharashtra has reported a net loss of ₹397.40 crore in the quarter ended June 30, on account of higher provisioning and rising non-performing assets (NPAs). The bank had registered a net profit of ₹59.44 crore in the corresponding year-ago period. BoM's gross NPAs were at 12.64% (₹13,040 crore) while its net NPAs stood at 8.73% (₹8,609 crore).