Bank of Maharashtra

Ek Parivaar, Ek Bank
Company type	Public
Traded as	BSE: 532525 NSE: MAHABANK
Industry	Banking Financial services
Founded	16 September 1935; 88 years ago (1935-09-16)
Headquarters	1501, 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	Consumer banking Corporate banking Finance and insurance Investment banking Mortgage loans Private banking Private equity Savings Securities Asset management Wealth management Credit cards
Revenue	₹18,178.73 crore (US$2.3 billion) (2023)[1]
Operating income	₹6,099 crore (US$760 million) (2023)[1]
Net income	₹2,602 crore (US$330 million) (2023)[1]
Total assets	₹267,651 crore (US$34 billion) (2023)[1]
Total equity	₹21,000 crore (US$2.6 billion) (2023)[1]
Owner	Government of India
Number of employees	12,977 (2023)[1]
Capital ratio	18% (2023)[1]
Website	bankofmaharashtra.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

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]