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Bank of Maharashtra

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Bank of Maharashtra
Company typePublic Sector Bank
Financial services
Founded16 September 1935; 88 years ago (1935-09-16)
Headquarters1501, Lokmangal,
Pune India
Number of locations
2022 Branches
Key people
A. S. Rajeev
(MD & CEO)

A. B Vijayakumar
(Executive Director)

Asheesh Pandey
(Executive Director)
RevenueIncrease 13,144.67 crore (US$1.7 billion) (2020)[1]
Increase 2,418 crore (US$320 million) (2020)[1]
Increase 385 crore (US$51 million) (2020)[1]
Total assetsIncrease184,082 crore (US$24 billion) (2020)[1]
Total equityIncrease5,824.11 crore (US$760 million) (2020)[1]
OwnerGovernment of India (93.33%)[1]
Number of employees
13,048 (2020)[1]
ParentMinistry of Finance , Government of India
Capital ratio13.65% (2020)[1]

Bank of Maharashtra is a nationalised bank under the ownership of Ministry of Finance, Government of India. 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] The total business of the bank crossed ₹ 3,15,620 lakh crore as on 31 December 2021.

History[change | change source]

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.[3] A.B. Vijayakumar joined as Executive Director on 10 March 2021. Asheesh Pandey joined as Executive Director on 31 December 2021.

References[change | change source]

  1. 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 "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.