Shares of Yes Bank, South Indian Bank, and Bank of Maharashtra surged up to 5% on January 3 following the banks’ strong business performance for the third quarter of FY24.
Deposits of Yes Bank jumped around 15% YoY in three months of December to Rs 2.77 lakh crore. Loans and advances of the bank were up 13% at Rs 2.45 lakh crore. Shares of Yes Bank jumped 2.3% at 12:30 pm on January 3 and were trading at Rs 20.04 per piece.
Bank of Maharashtra, on the other hand, said its gross advances grew 21% to Rs 2.29 lakh crore for the October-December quarter. Total business of the bank rose 17% to Rs 5.07 lakh crore while total deposits improved 13.5% to Rs 2.79 lakh crore on a year-on-year basis. At 12:35 pm, shares of Bank of Maharashtra traded 5% higher at Rs 55.5 per share.
South Indian Bank too announced impressive numbers, with gross advances increasing 11.94% YoY to Rs 86, 965 crore. Total deposits with the bank increased 6.28% over the same period. At 12:40 pm on January 3, South Indian Bank shares traded almost 4% higher at Rs 26.69 per share.
These positive market reactions reflect investor confidence in strong performances from these banks amid a robust economic environment.
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Source: Moneycontrol
News Desk
