Bank of Maharashtra (BoM) is back in the black. The bank on Monday posted a net profit of `72.34 crore for the fourth quarter of FY19, against a loss of `113.49 crore in the year-ago period. BoM\u2019s net interest income grew 13.47% to `999.93 crore while the net interest margin increased by 23 BPS to 2.64%. However, the operating profit was down by 8.35% to `501.14 crore, mainly due to an increase in depreciation on revalued assets by `131 crore as per revised AS 10 guideline. AS Rajeev, MD & CEO, said the bank has come back to profit and financials improved after structural, systemic and strategic changes were made. Rajeev said the bank will no longer need to make large provisions and there was a momentum in recoveries and slowing of slippages. He said this performance was sustainable and the bank will perform better in the current fiscal. Executive director AC Rout said there was a period of despondency at the bank but this performance is a vindication of its true fundamentals and these results are something to cheer about. The bank has rebalanced its portfolio that was earlier skewed in favour of corporate advances, but now it focuses on retail, agriculture and MSMEs which now account for 50.98% of advances. Gross NPA decreased by `3,109 crore to `15,324 crore while net NPA reduced by 53% to `4,559 crore as on March 31, 2019. During Q4, gross NPA was at 16.40% while net NPA was at 5.53%, compared to 19.48% gross NPA and 11.24% net NPA, respectively, in the year-ago period. Total business as of March 31, 2019 increased to `2,34,117 crore with gross advances at `93,467 crore and total deposit at `1,40,650 crore. Retail advances grew 13.65% to `18,805 crore with housing loan accounting for 64% of total retail advances. Gross investment increased by `16,001 crore to `60,164 crore as on March 31, 2019. The share of CASA to total deposits increased to nearly 50% which reduced interest expenditure by 1.98% and the repayment of high cost borrowings in Q4 led to reduction in interest expenditure. The bank has reported a 4.23% jump in losses in FY19 to `4,856 crore because of higher provisions on impaired assets. Now that the bank is out of PCA, it will be looking at growing advances to quality corporates, retail agri and the MSME sector.