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 (1935-09-16)
Headquarters	1501, Lokmangal, Shivajinagar, Pune India
Number of locations	2022 Branches
Key people	A. S. Rajeev (MD & CEO) A. B Vijayakumar (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	₹2,418 crore (US$320 million) (2020)
Net income	₹385 crore (US$51 million) (2020)
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	13,048 (2020)
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 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. The total business of the bank crossed ₹ 3,15,620 lakh crore as on 31 December 2021.

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