Public sector lender Bank of Maharashtra on Monday said its total business had crossed

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Rs 100,000 crore and the lender has achieved the target set at the bank’s platinum jubilee year.

“We have achieved the target of crossing Rs 100,000 crore business at the end of March 31, 2010,” MG Sanghvi, executive director of the Pune-headquartered bank, told FC.

He said the bank's deposits in financial year 2010 grew over 21 per cent to Rs 63,240 crore, out of which the proportion of current and savings account (CASA) deposits grew 25.6 per cent to Rs 23,302 crore.

According to Sanghvi, the credit grew 17.5 per cent and the total loan disbursed till the March-end stood at Rs 40,910 crore. The bank is targeting a credit growth of 20-22 per cent and deposits at over 17 per cent in the new financial year. The total business of a bank is the sum of total loans on the book and the deposits it carries. The banker said the strategy of opening of three retail assets branches in Pune, Mumbai and Delhi to focus on retail individual needs had worked well to increase the business of the bank. “Because of these retails branches, decisions to disburse individual loans were faster,” Sanghvi said.

He said for deposit growth, the bank would focus on CASA and low-cost term deposits.