Bank of Maharashtra

Bank of Maharashtra is a major public sector bank in India. The Government of India holds 87.74% of the shares.[3] The bank had 15 million customers across the country with 1,897 branches as of 5 April 2016. It had the largest network of branches of any public sector bank in the state of Maharashtra.[4]

Bank of Maharashtra
Public Sector Bank
Traded asBSE: 532525
NSE: MAHABANK
IndustryBanking
Financial services
Founded1935 (1935)
Headquarters1501, Lokmangal,
Shivajinagar,
Pune India
Key people
A. S. Rajeev
(MD & CEO)[1]
Productsconsumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, savings, Securities, asset management, wealth management, Credit cards,
Revenue ₹13,144.67 crore (US$1.8 billion) (2020)[2]
₹2,847.06 crore (US$400 million) (2020)[2]
₹388.58 crore (US$54 million) (2020)[2]
Total assets₹168,867.18 crore (US$24 billion) (2020)[2]
Total equity₹5,824.11 crore (US$820 million) (2020)[2]
OwnerGovernment of India (92.49%)[2]
Number of employees
12,532 (March 2020)[2]
Capital ratio13.52% (2020)[2]
Websitewww.bankofmaharashtra.in

History

The bank was founded by V. G. Kale and D. K. Sathe in Pune, India.

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. After nationalization in 1969, the bank expanded rapidly.

Narendra Singh, who assumed the office of Chairman and Managing Director from 1 February 2012, retired on 30 September 2013 and was succeeded by Sushil Muhnot and Ravindra Prabhakar Marathe respectively. A.S. Rajiv became Managing Director and CEO on 1 December 2018.[5]

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See also

References
  1. "BoM appoints new MD CEO". www.livemint.com. Retrieved 2 December 2018.
  2. "Annual Report of Bank of Maharashtra" (PDF).
  3. "Bank of Maharashtra to raise Rs. 394 crore from govt". Retrieved 19 February 2017.
  4. "Aviva, Bank of Maharashtra in bancassurance tie-up - Times of India". The Times of India. Retrieved 15 January 2018.
  5. "Bank of Maharashtra, Central Bank of India and UCO Bank Raise Rs 2,348 Crore From Govt". News18. Retrieved 15 January 2018.
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