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Bank of Maharashtra

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Bank of Maharashtra
Company typePublic
BSE: 532525
NSE: MAHABANK
IndustryBanking
Financial services
Founded16 September 1935; 89 years ago (1935-09-16)
Headquarters1501, Lokmangal, Shivajinagar, Pune, Maharashtra India
Number of locations
2263 Branches
Key people
Nidhu Saxena
(MD & CEO)

Rohit Rishi
(Executive Director)

Asheesh Pandey
(Executive Director)
Products
RevenueIncrease ₹18,178.73 crore (US$2.2 billion) (2023)[1]
Increase ₹6,099 crore (US$730 million) (2023)[1]
Increase ₹2,602 crore (US$310 million) (2023)[1]
Total assetsIncrease₹267,651 crore (US$32 billion) (2023)[1]
Total equityIncrease₹21,000 crore (US$2.5 billion) (2023)[1]
OwnerGovernment of India
Number of employees
13,499(2024)[1]
Capital ratio18% (2023)[1]
Websitebankofmaharashtra.in

Bank of Maharashtra is an Indian public sector bank headquartered in Pune. The bank had 30 million customers across the country with 2263 branches as of June 2023. It has the largest network of branches of any nationalised bank in the state of Maharashtra. State-owned Bank of Maharashtra (BoM) has emerged as the top performer among public sector lenders in terms of loan and deposit growth in percentage terms during 2022-23. The Pune-headquartered lender also recorded highest growth in profitability with bottomline growing almost 126 per cent to Rs 2,602 crore during the year.[2]

History

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The bank was founded by V.G.Kale and D. K. Sathe in Pune. The bank was registered on 16 September 1935 with an authorized capital of US$1 million and became operational on 8 February 1936. It provided financial assistance to small business and gave birth to many industrial houses. The bank was nationalised in 1969.

A. S Rajeev assumed charge as Managing Director & CEO of the bank on 2 December 2018.[3] A. B. Vijayakumar joined as executive director on 10 March 2021. Asheesh Pandey joined as executive director on 31 December 2021.

Allen C. Pereira, Former Chairman of Bank of Maharashtra was responsible for having opened several branches of the branch in the North East Zones of India where the bank had no presence and helped scaling up.[4]

See also

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References

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  1. ^ a b c d e f g "Annual Report of Bank of Maharashtra" (PDF).
  2. ^ "Aviva, Bank of Maharashtra in bancassurance tie-up - Times of India". The Times of India. Retrieved 15 January 2018.
  3. ^ "BoM appoints new MD CEO". www.livemint.com. Retrieved 2 December 2018.
  4. ^ "Allen C A Pereira Appointed Managing Director of Bank of Maharashtra". www.daijiworld.com. Retrieved 5 July 2022.
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