Bank of Maharashtra

Bank of Maharashtra is a major public sector bank in India. The Government of India holds 93.33% of the shares.[3] The bank had 15 million customers across the country with 1,874 branches as of 3 February 2021. It has the largest network of branches of any public sector bank in the state of Maharashtra.[4] The total business of the Bank crossed Rs.2,66,000/- Lakh Crore as on 31 December 2020.

Bank of Maharashtra
TypePublic
BSE: 532525
NSE: MAHABANK
IndustryBanking
Financial services
Founded16 September 1935 (1935-09-16)
Headquarters1501, Lokmangal,
Shivajinagar,
Pune India
Key people
A. S. Rajeev
(MD & CEO) [1]
Hemant Kumar Tamta
(Executive Director)
Products
Revenue ₹13,144.67 crore (US$1.8 billion) (2020)[2]
₹2,418 crore (US$340 million) (2020)[2]
₹385 crore (US$54 million) (2020)[2]
Total assets₹184,082 crore (US$26 billion) (2020)[2]
Total equity₹5,824.11 crore (US$820 million) (2020)[2]
OwnerGovernment of India (93.33%)[2]
Number of employees
13,048 (February 2021)[2]
Capital ratio13.65% (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.

Shri A.S Rajeev, assumed charge as Managing Director & CEO of Bank of Maharashtra on 02 December 2018. Shri Hemant Kumar Tamta joined as Executive Director on 31 December 2018.

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.
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