Bank of Maharashtra posted a 27 per cent year-on-year jump in its total credit to ₹3.06 lakh crore for the quarter ended June, with retail, agriculture and MSME lending up 25 per cent at ₹1.87 lakh crore. The Pune-headquartered public sector lender filed the numbers with the exchanges on Monday, saying total business, advances plus deposits, climbed 19 per cent to ₹6.51 lakh crore in Q1FY27.
The deposit side came in more sedately. BoM reported total deposits of ₹3.44 lakh crore, up 13 per cent from ₹3.05 lakh crore a year earlier, per the regulatory filing carried by the Monday Q1 numbers carried online. The share of low-cost current and savings accounts (CASA) slipped to 49 per cent from 50 per cent. The quarterly snapshot lands in a reporting cycle when private-sector peers are also flagging double-digit advances growth.
Loan Book at ₹3.06 Lakh Crore on 27% Growth
In the regulatory filing covered by the Q1FY27 regulatory filing, BoM said its net advances stood at ₹3.06 lakh crore at the end of April-June FY27, compared with ₹2.41 lakh crore in the same quarter of FY26. The 27 per cent year-on-year rise makes for one of the more visible prints from public-sector lenders in the Q1FY27 reporting window. The disclosure was made after market hours on Monday, July 6.
A year earlier, the same filing shows, BoM’s outstanding credit stood at ₹2.41 lakh crore at the end of Q1FY26. The bank’s RAM book, combining retail personal loans, agriculture lending and advances to micro and small enterprises, grew 25 per cent to ₹1.87 lakh crore. That makes RAM the principal disclosed growth segment in the advance book. Corporate credit, classified separately, rose 21 per cent to ₹1.11 lakh crore during the quarter. The filing does not split RAM growth between retail, farm and small-business loans.
The composition sits where it has historically. RAM at ₹1.87 lakh crore dominates the disclosed buckets, with corporate at ₹1.11 lakh crore the next-largest line. The filing does not itemise the residual between the disclosed buckets and the ₹3.06 lakh crore total, which sits in other advances not separately broken out in this update.
Where the Growth Came From
BoM’s Q1FY27 disclosure splits the advance book into two named buckets and an unnamed residual. RAM dominates the additions, corporate credit adds a smaller growth rate on a smaller base. A short snapshot:
- Total credit: ₹3.06 lakh crore, up 27 per cent YoY
- RAM segment: ₹1.87 lakh crore, up 25 per cent YoY
- Corporate credit: ₹1.11 lakh crore, up 21 per cent YoY
RAM, combining retail personal loans, agriculture lending and advances to micro and small enterprises, expanded 25 per cent YoY to ₹1.87 lakh crore, the principal growth segment. BoM has positioned RAM as its priority book, and the 25 per cent Q1FY27 print is consistent with that focus. The disclosure does not break out how much of the RAM growth came from retail versus farm versus small-business loans, leaving the split between salaried and self-employed demand unresolved.
Corporate credit, the second disclosed bucket, expanded 21 per cent to ₹1.11 lakh crore, breaching the ₹1 lakh crore threshold during Q1FY27. The growth rate sits below the 27 per cent headline for total advances, but the absolute chunk added to the books is meaningful for a bank of BoM’s size.
BoM has historically been a retail-led lender, so a corporate book crossing the ₹1 lakh crore mark signals a tilt toward larger-ticket loans. The 21 per cent corporate growth stays below the RAM segment’s 25 per cent, leaving the retail-led book in the dominant position. The filing does not identify which sub-sectors drove the corporate additions or what share came from working-capital versus term lending. BoM’s Q1FY27 disclosure does not separately break out services-sector, manufacturing-sector or infrastructure lending either.
Deposits Grow 13%, CASA Edges to 49%
The deposit side came in slower than the credit side. BoM reported a 13 per cent rise in total deposits to ₹3.44 lakh crore against ₹3.05 lakh crore at the end of Q1FY26. CASA fell one percentage point to 49 per cent of total deposits from 50 per cent a year earlier.
CASA, the current and savings account pool, is a closely watched input to banks’ cost of funds. A one-point move can shift several basis points of margin either way. The CASA slippage is small in absolute terms but material to the funding mix. The filing does not split the ₹3.44 lakh crore deposit base into CASA versus term-deposit volumes, so readers have to back the volumes out themselves.
The credit-deposit gap is the unspoken item. Net advances grew 27 per cent while deposits grew 13 per cent, leaving the bank’s growth imbalance at the centre of the funding story. That mismatch pushes BoM toward existing balance-sheet liquidity or short-tenor wholesale funding to fuel the credit push. The Q1FY27 filing does not specify how the bank intends to close the wedge for the rest of FY27. CASA deposit volumes, when they land, will be the cleanest test of how durable the funding mix really is.
Total Business Crosses ₹6.5 Lakh Crore
Combined, advances and deposits lifted BoM’s total business to ₹6.51 lakh crore at the end of June 2026, the bank told exchanges. A year earlier, on June 30, 2025, the same measure stood at ₹5.46 lakh crore. The 19 per cent annual growth comes straight from the filing; total business just adds credit and deposits as a quick proxy for balance-sheet size.
Total business is the most-cited single number for a public-sector bank’s footprint. BoM’s 19 per cent growth on this measure reflects the imbalance between credit (27 per cent) and deposits (13 per cent). The full-year progression through FY27 will show whether the bank can hold the credit pace while nudging deposit growth closer. Whether CASA stabilises around 49 per cent will likely determine how much of that growth drops to the bottom line.
| Measure | Q1FY27 | Q1FY26 (Apr-Jun 2025) | Year-on-year change |
|---|---|---|---|
| Total credit (net advances) | ₹3.06 lakh crore | ₹2.41 lakh crore | +27% |
| RAM segment loans | ₹1.87 lakh crore | not disclosed in filing | +25% |
| Corporate credit | ₹1.11 lakh crore | not disclosed in filing | +21% |
| Total deposits | ₹3.44 lakh crore | ₹3.05 lakh crore | +13% |
| Total business | ₹6.51 lakh crore | ₹5.46 lakh crore | +19% |
| CASA ratio (% of deposits) | 49% | 50% | -1 percentage point |
Reading the Q1FY27 Print in Context
BoM’s disclosure lands in a week when larger peers have reported numbers too. The BusinessLine page that carried BoM’s update had a sidebar headline reading “Pvt sector banks log robust growth in deposits and advances in Q1FY27,” placing the bank’s filing inside a wider reporting cycle. Public-sector lenders and their private peers are reporting in overlapping batches through July. BoM’s 27 per cent credit growth and 19 per cent total-business print line up with the sector-level momentum visible across these early Q1FY27 disclosures.
Three items stand to clear up in BoM’s fuller Q1FY27 financial-results document. Monday’s regulatory filing does not include them:
- Net profit and net interest margin (NIM) for Q1FY27
- Slippage, restructured-asset and gross-NPA data for the quarter
- Management commentary on funding plans for the credit-deposit gap
The CASA trajectory will draw attention because the 49 per cent ratio continues a slow slide from prior quarters. The bank did not, in Monday’s filing, lay out steps to defend the low-cost mix. Asset quality and capital consumption figures, when they arrive, will also frame whether the 27 per cent credit pace can be sustained at BoM’s current scale.
Monday’s disclosure leaves several numbers out. The first detailed Q1FY27 financial-results document from BoM is due in the coming weeks under stock-listing rules, running alongside the next round of PSU earnings. Until that lands, the BoM headline stays as printed: 27 per cent credit growth, 19 per cent total business, 49 per cent CASA. The gap between credit and deposit growth, and whether it persists, will be the early tell for the rest of BoM’s FY27 reporting.
