Bank deposits consist of money placed into banking institutions for safekeeping. These deposits are made to deposit accounts such as savings accounts, checking accounts etc.
Increase in bank deposits indicates new money and new clients are being on-boarded. Here are the top performing banks which grew their deposits up to 52 percent YOY.
Dhanalaxmi bank
Incorporated in 1927 in Kerala Dhanalaxmi bank is a publicly held banking company engaged in providing a wide range of banking and financial services with a major concentration in Southern states.
Dhanalaxmi bank’s deposits grew by 8.17 percent to 13789 in September 23 from 12748 in September 22. On 11th October stock closed at Rs. 30.10 and has given 151 percent returns in the last 1 year.
Bank of Maharashtra
Bank of Maharashtra is engaged in providing banking services. The Bank’s segments include Treasury, Corporate/Wholesale Banking, Retail Banking and Other banking operations.
Bank of Maharashtra’s deposits grew by 22.19 percent to 239306 in September 23 from 195849 in September 22. On 11th October stock closed at Rs. 46.60 and has given 158 percent returns in the last 1 year.
Suryoday Bank
Incorporated in 2008, Suryoday Small Finance Bank Ltd is one of the leading Small Finance Banks in India. The company started offering SFB services in 2017. They serve customers in the unbanked and underbanked segments. Before SBF, the company operated as an NBFC.
Suryoday bank’s deposits grew by 52 percent to 4,207 in September 23 from 6,388 in September 22. On 11th October stock closed at Rs. 169.40 and has given 75.82 percent returns in the last 1 year.
Written by: Vinit Israni
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