Bank of Maharashtra has received a rating reaffirmation from Brickwork Ratings India Private Ltd on its Basel III Tier II bonds worth ₹2,000.00 crores. The rating agency reaffirmed the BWR AA+ (Stable) rating on January 22, 2026, across four series of bonds, reflecting the bank's strong financial position and government support.

Rating Details and Bond Portfolio

The reaffirmation covers four series of Basel III Tier II bonds with varying coupon rates and maturity dates:

All bonds are unsecured subordinated fully paid up taxable non-convertible redeemable Basel III compliant tier II bonds. The Series-4 bonds of ₹1,000.00 crores have been fully raised, while ₹505.70 crores have been raised from the combined Series-1, 2, and 3 totaling ₹1,000.00 crores.

Strong Business Growth and Financial Performance

The bank demonstrated robust business growth with total business size reaching ₹5.95 lakh crores as of December 31, 2025, including deposits of ₹3.22 lakh crores and advances of ₹2.73 lakh crores. The bank achieved 17.24% year-on-year business growth, with advances portfolio comprising 30.50% retail, 13.44% agriculture, 18.72% MSME, and 37.34% corporates and others.

Key financial highlights as of December 31, 2025:

Improved Asset Quality and Capital Position

The rating reaffirmation reflects significant improvement in asset quality metrics. Gross NPAs declined to 1.60% as of December 31, 2025, from 1.80% in the previous year, while net NPAs improved to 0.15% from 0.20%. The provision coverage ratio (PCR) strengthened to 98.41% from 98.28%.

Capitalisation levels remain comfortable and well above regulatory requirements:

Government Support and Network Expansion

The bank continues to benefit from strong government support, with GoI shareholding at 73.60% as of December 31, 2025. As one of 12 Public Sector Banks post-consolidation, Bank of Maharashtra operates 2,719 branches as of December 31, 2025, with approximately 43% located in Maharashtra. The bank plans to establish at least one branch in every district across the country to broaden its geographical presence.

Liquidity and Risk Factors

The bank maintains adequate liquidity with cash and balances with RBI totaling ₹10,820 crores as of December 31, 2025. The average Liquidity Coverage Ratio (LCR) for the quarter ended December 31, 2025, stood at 116.36%, above the regulatory minimum of 100.00%. The Net Stable Funding Ratio (NSFR) was 125.18%.

However, the rating agency noted monitoring points including high regional concentration with 43% of branches in Maharashtra and increasing slippages to NPA at ₹749 crores compared to ₹621 crores in the previous year, though this was offset by recoveries and upgradations of ₹287 crores.

Two prominent Indian companies, Bank of Maharashtra and NLC India, are trading ex-dividend today, January 20, 2026, following their respective dividend announcements. The combined dividend payout from both companies totals ₹4.60 per share for eligible shareholders.

Ex-Dividend Date Significance

Today marks the ex-dividend date for both companies, which serves as the critical cutoff point for dividend eligibility. Shareholders who held positions in these stocks before January 20, 2026, will be entitled to receive the declared dividends in their upcoming payouts.

Dividend Distribution Details

The following table summarizes the key information for today's ex-dividend stocks:

Impact on Shareholders

Investors who maintained their shareholding positions before today's ex-dividend date will receive the dividend payments according to the companies' respective payout schedules. The ex-dividend mechanism ensures that only committed shareholders who held their positions before the specified cutoff date benefit from the dividend distribution.

Market Implications

Shares typically trade at adjusted prices on ex-dividend dates to reflect the dividend payout. Both Bank of Maharashtra and NLC India shares will trade reflecting this dividend adjustment, with eligible shareholders set to receive their dividend payments as per the companies' distribution timelines.