Bank of Maharashtra shares surged as much as 3.2% to hit a fresh 52-week high of ₹65.97 on Monday after the state-run lender reported strong business performance for the third quarter. The stock later cooled off from its intraday high but maintained gains, reflecting positive investor sentiment towards the bank's operational performance.

Strong Q3 Business Performance Drives Market Rally

The public sector bank demonstrated robust expansion with total business growing by 17.24% to ₹5.95 lakh crore, reflecting strengthened operational performance across key banking metrics. The comprehensive growth was supported by strong performance in both deposit mobilization and lending activities.

Deposit Growth and CASA Performance Excellence

The bank achieved substantial growth in deposit mobilization, with total deposits increasing by 15.30% to ₹3.21 lakh crore. CASA deposits showed particularly strong performance, growing by 15.93% to ₹1.59 lakh crore. The CASA ratio improved to 49.55%, representing a 27 basis points increase from 49.28%, demonstrating the bank's enhanced ability to attract low-cost deposits.

Robust Lending Portfolio Expansion

Global advances showed impressive performance, rising by 19.61% to ₹2.73 lakh crore from ₹2.28 lakh crore in the previous year. The lending growth was broad-based across different segments:

Recent Stake Sale and Market Performance

Last month, the Centre successfully completed an offer for sale (OFS) in Bank of Maharashtra, which received strong market response. Initially planned as a 5% stake divestment to comply with minimum public shareholding norms, the government exercised the green shoe option, increasing total divestment to 6%. Prior to the OFS, the Centre held a 79.6% stake in the lender.

The stock has gained 23% over the past year, reflecting sustained investor confidence in the bank's growth trajectory and operational improvements across key business segments.

Bank of Maharashtra has submitted its quarterly compliance certificate to the Bombay Stock Exchange and National Stock Exchange of India, confirming adherence to SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended December 31, 2025. The filing was made on January 3, 2026, by Company Secretary and Compliance Officer Vishal Sethia.

Regulatory Compliance Certificate Details

The certificate was issued by MCS Share Transfer Agent Limited, which serves as the bank's Registrar and Transfer Agent (RTA). The document specifically addresses compliance with Regulation 74(5) of the SEBI depositories regulations, covering the bank's dematerialization processes during the quarter.

Certification Confirmations

MCS Share Transfer Agent Limited certified several key compliance aspects in their letter dated January 1, 2026. The registrar confirmed that all securities received from depository participants for dematerialization during the quarter were properly processed and confirmed to the depositories within prescribed timelines.

The certification also validates that:

• Securities received for dematerialization have been listed on stock exchanges where previously issued securities are traded
• Security certificates received for dematerialization were mutilated and cancelled after proper verification
• Depository names were substituted in the register of members as registered owners within the mandated 15-day period

Corporate Communication

The bank's communication was addressed to both major stock exchanges where its shares are listed. Bank of Maharashtra maintains its corporate office at Mont Claire, Baner-Pashan Link Road, Pashan, Pune, while its head office is located at Lokmangal, Shivajinagar, Pune.

Regulatory Framework

This quarterly filing forms part of the mandatory compliance requirements under SEBI's depositories regulations framework. The regulation ensures proper handling of dematerialized securities and maintains transparency in the depository system. Such certifications help maintain investor confidence by confirming that listed companies and their transfer agents are following prescribed procedures for securities handling and record maintenance.