Bank of Maharashtra is a public sector bank and was founded in 1935. The Government of India has been holding 88% of the shares. The bank had 15 million customers all over the country with more than 1,897 branches as of 5the of April 2016. The bank is said to be holding quite a huge network connection of the branches which probably no other bank must have got in the Maharashtra State.
Listings and Revenue
| Revenue | ₹ 13,144.67 crore |
| Operating Income | ₹2,847.06 crore |
| Net Income | ₹ 388.58 crore |
| Total Assets | ₹ 168,867.18 crore |
Products and Services
With the better use of technology and digitalisation, Bank of Maharashtra is one of those banks which has at a faster pace upgraded all its branches with the best solution. The bank is now known to offer some of the quality products and services that includes consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, savings, Securities, asset management, wealth management, Credit card to name some.
History
Bank of Maharashtra was founded by V. G. Kale and D. K. Sathe in Pune, India
In the year 1935, the registration of the bank was done with authorised capital of US$1 million. In the year 1936 however the bank was then operational. The bank solely focused on providing financial assistance to small business. It also gave birth to wide range of industrial houses.
Post nationalisation in 1969, the bank then paced up quite a lot in terms of expansion.
In the year 2012, it was Narendra Singh who become the Chairman and Managing Director while the next year he got the retirement as well. Following to that Sushil Muhnot and Ravindra Prabhakar Marathe respectively justified the place of carrying the bank growth.
In the year 2018, A.S. Rajiv became Managing Director and CEO with some major and minor changes that were made.
Acquisition
There is no information available
Awards
There are several awards which bank of Maharashtra received. Bank of Maharashtra has won best bank in public sector. Awards like IPE BFSI awards are known for the best performance in financial and banking service which surely Bank of Maharashtra bagged it. Besides it also won 2nd IPE Banking Financial Services and Insurance award.
Subsidiary
bank of Maharashtra has one subsidiary called The Maharashtra Executor & Trustee Company Pvt Ltd. The focus of this subsidiary is to manage public/ private trusts and administration/ execution of Will.