Bank of Maharashtra

Bank of Maharashtra
	Ek Parivaar, Ek Bank
Company type	Public Sector Bank
Traded as	BSE: 532525; NSE: MAHABANK
Industry	Banking ; Financial services
Founded	16 September 1935; 90 years ago
Headquarters	1501, Lokmangal,; Shivajinagar,; Pune India
Number of locations	2022 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	₹13,144.67 crore (US$1.7 billion) (2020)
Operating income	₹6,324 crore (US$830 million) (2024)
Net income	₹2,943 crore (US$390 million) (2024)
Total assets	₹184,082 crore (US$24 billion) (2020)
Total equity	₹5,824.11 crore (US$760 million) (2020)
Owner	Government of India (93.33%)
Number of employees	14,591
Parent	Ministry of Finance , Government of India
Capital ratio	13.65% (2020)
Website	bankofmaharashtra.in

Bank of Maharashtra is a nationalised bank under the ownership of Ministry of Finance, Government of India. The bank had 35 million customers across the country with 2641 branches as of June 2025. It has the largest network of branches of any nationalised bank in the state of Maharashtra.^[3] The total business of the bank crossed ₹ 5,46,143 lakh crore as on 30 June 2025.

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. The bank was nationalised in 1969.

A. S Rajeev assumed charge as Managing Director & CEO of the bank on 2 December 2018.^[4] A.B. Vijayakumar joined as Executive Director on 10 March 2021. Asheesh Pandey joined as Executive Director on 31 December 2021.

References

1 2 3 4 5 6 7 "Annual Report of Bank of Maharashtra" (PDF). Archived from the original (PDF) on 11 April 2023. Retrieved 10 June 2022.
↑ "Employee strength of Public Sector Banks" (PDF). Government of India, Ministry of Finance. Retrieved 24 July 2025.
↑ "Aviva, Bank of Maharashtra in bancassurance tie-up - Times of India". The Times of India. Retrieved 15 January 2018.
↑ "BoM appoints new MD CEO". www.livemint.com. Retrieved 2 December 2018.

[Annual_Report_2019-20-1] 1 2 3 4 5 6 7 "Annual Report of Bank of Maharashtra" (PDF). Archived from the original (PDF) on 11 April 2023. Retrieved 10 June 2022.

[2] "Employee strength of Public Sector Banks" (PDF). Government of India, Ministry of Finance. Retrieved 24 July 2025.

[3] "Aviva, Bank of Maharashtra in bancassurance tie-up - Times of India". The Times of India. Retrieved 15 January 2018.

[4] "BoM appoints new MD CEO". www.livemint.com. Retrieved 2 December 2018.

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