Bank of Maharashtra

Bank of Maharashtra is an Indian public sector bank headquartered in Pune. The bank had 29 million customers across the country with 2022 branches as of March 2022. It has the largest network of branches of any nationalised bank in the state of Maharashtra.[2]

Bank of Maharashtra
TypePublic
BSE: 532525
NSE: MAHABANK
IndustryBanking
Financial services
Founded16 September 1935 (1935-09-16)
Headquarters1501, Lokmangal, Shivajinagar, Pune, Maharashtra India
Number of locations
2022 Branches
Key people
A. S. Rajeev
(MD & CEO)

A. B Vijayakumar
(Executive Director)

Asheesh Pandey
(Executive Director)
Products
RevenueIncrease ₹13,144.67 crore (US$1.6 billion) (2020)[1]
Increase ₹2,418 crore (US$300 million) (2020)[1]
Increase ₹385 crore (US$48 million) (2020)[1]
Total assetsIncrease₹184,082 crore (US$23 billion) (2020)[1]
Total equityIncrease₹5,824.11 crore (US$730 million) (2020)[1]
OwnerGovernment of India
Number of employees
13,048 (2020)[1]
Capital ratio13.65% (2020)[1]
Websitebankofmaharashtra.in

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]

See also

References
  1. "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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