Bank of Maharashtra

Bank of Maharashtra

Company type	Public
Traded as	BSE:  532525 NSE:  MAHABANK
ISIN	INE457A01014
Industry	Banking Financial services
Founded	16 September 1935;89 years ago (1935-09-16)
Headquarters	Lokmangal, 1501, Shivajinagar, Pune, Maharashtra , India
Number of locations	2,641 branches (June 2025)
Key people	Nidhu Saxena (Managing Director & CEO) [1]
Services	Consumer banking, Corporate banking, Financial services, Investment banking, Mortgage loans, Private banking, Wealth management
Revenue	₹28,401 crore (US$3.4 billion) (FY25 [2] )
Net income	₹5,519 crore (US$650 million) (FY25 [2] )
Total assets	₹369,354 crore (US$44 billion) (2025 [3] )
Total equity	₹113,834 crore (US$13 billion) (2025 [3] )
Owner	Government of India (79.60%)
Number of employees	14591 [4]  (2025)
Website	www.bankofmaharashtra.in

Bank of Maharashtra (abbreviated as BoM) is an Indian public sector bank, based in Pune. It was established in 1935 and nationalised by the Government of India in 1969. It has 2,641 branches, as of June 2025. ^[5]

History

Bank of Maharashtra branch on Bajirao Road, a heritage structure in Pune

Bank of Maharashtra was established on 16 September 1935 in Poona, Bombay Presidency (present day Pune, Maharashtra), under the direction of Mahratta Chamber of Commerce to assist small businesses and traders during the cooperative movement in India. ^{[6] [7]}

BoM became a scheduled bank in 1944, obtained a banking license in 1955 under the Banking Companies Act, and listed on the Bombay Stock Exchange in 1958. ^[6]

In 1961, it acquired three smaller banks in Maharashtra, viz., Bank of Konkan in Malvan, Bank of Nagpur in Nagpur, and Bharat Industrial Bank in Poona. ^[8]

BoM was one of the 14 banks nationalised by the Government of India in July 1969. ^[9]

BoM started three regional rural banks (RRBs) in association with central and state governments: Marathwada Gramin Bank in Nanded (1976), Aurangabad-Jalna Gramin Bank in Aurangabad (1981), and Thane Gramin Bank in Thane (1986). ^[10] These RRBs were merged to create Maharashtra Gramin Bank in 2009. ^{[11] [12]}

In 2004, the bank went public again with an initial public offering, following which Government of India's ownership stake in the bank reduced from 100% to 76.77%. ^{[13] [14]}

See also

• Banks portal

• Banking in India
• List of banks in India
• Reserve Bank of India
• Indian Financial System Code

References

1. "Nidhu Saxena named MD & CEO of Bank of Maharashtra". The Financial Express. 28 March 2024. Retrieved 15 August 2025.
2. "Bank of Maharashtra Q4 PAT climbs 23% YoY to Rs 1,493 crore". JM Financial. 26 April 2025. Retrieved 15 August 2025.
3. "Financial Results of Bank for the Quarter and Year ended 31.03.2025" (PDF). Bank of Maharashtra. Retrieved 15 August 2025.
4. "Employee strength of Public Sector Banks" (PDF). Government of India, Ministry of Finance. Retrieved 2025-07-24.
5. "Financial Results For Quarter Ended, 30th June 2025" (PDF). Bank of Maharashtra. Retrieved 15 August 2025.
6. "Bank of Maharashtra - History and Growth" (PDF). Shivaji University. Retrieved 15 August 2025.
7. "Bank of Maharashtra: Rating reaffirmed; withdrawn for Rs. 600-crore Basel III tier II bonds". ICRA. Retrieved 15 August 2025.
8. "Banks which have closed down or amalgamated or placed under liquidation during the period 1st March to 4th September 1961" (PDF). Rajya Sabha Debates. Retrieved 15 August 2025.
9. "Bank of Maharashtra" (PDF). Acuité Ratings & Research Limited. Retrieved 15 August 2025.
10. Ray, Partha; Basu, Sankarshan (November 2022). "Bank of Maharashtra: An Indian Small Public Sector Bank Unshackling itself from the baggage of the Past" (PDF). National Institute of Bank Management. Retrieved 15 August 2025.
11. "Bank of Maharashtra merges two RRBs". The Economic Times. 31 March 2008. Retrieved 15 August 2025.
12. "Maharashtra Gramin Bank" (PDF). Brickwork Ratings. Retrieved 15 August 2025.
13. "Bank of Maharashtra stock lists on BSE". Zee News. Retrieved 15 August 2025.
14. "Bank of Maharashtra". Equitymaster. Retrieved 15 August 2025.

External links

• Official website