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Latest news about Bank of Maharashtra

Bank of Maharashtra Staff Seeks FM Clarification on SBI Merger Reports 2 days ago

Bank of Maharashtra employees and officers have written to Finance Minister Nirmala Sitharaman seeking clarification on media reports suggesting a potential merger with State Bank of India. The federation highlighted the bank's exceptional operational efficiency, strong credit growth, and progress in financial inclusion. They emphasized the bank's importance to Maharashtra's socio-economic development and requested an official statement to restore stakeholder confidence. Bank of Maharashtra recently reported strong financial performance with 14% growth in total business, 12.13% increase in deposits, and 17% rise in advances.

Bank of Maharashtra Reports 23% Profit Surge, Unveils Ambitious Branch Expansion Strategy 2 days ago

Bank of Maharashtra Reports 23% Profit Growth in Q2, Asset Quality Improves 4 days ago

Bank of Maharashtra Sets Ambitious Financial Targets, Aims for 3.75% NIM 4 days ago

Bank of Maharashtra Reports Strong Financial Results Amid Governance Challenges 5 days ago

More news about Bank of Maharashtra

06Oct 25

Bank of Maharashtra Reports Robust 14.22% Growth in Global Business

Bank of Maharashtra has achieved significant growth in various areas. Global business grew by 14.22% year-on-year to ₹5,63,987 crore. Total deposits increased by 12.13% to ₹3,09,800 crore, with CASA deposits growing by 14.55% to ₹1,55,989 crore. The CASA ratio improved to 50.35%. Global advances rose by 16.87% to ₹2,54,187 crore, with retail advances showing exceptional growth of 37.39% to ₹78,195 crore. Corporate advances grew by 16.57% to ₹96,022 crore. The bank's Credit-Deposit ratio improved from 78.72 to 82.05.

25Aug 25

Bank of Maharashtra Plans Rs 2,000-Crore Share Sale to Reduce Government Stake

Bank of Maharashtra announces plans to raise at least Rs 2,000 crore through a qualified institutional placement (QIP) or offer for sale. This move aims to reduce the government's stake from 79.60% to below or up to 75.00%, aligning with SEBI's minimum public shareholding norms. The fundraising will help the bank comply with regulations and strengthen its capital base. CEO Nidhu Saxena has set targets of 15.00% overall business growth and 17.00% credit growth for the current financial year.

18Aug 25

Bank of Maharashtra and SBI Card Unveil Co-Branded Credit Card Partnership

Bank of Maharashtra and SBI Card have launched a co-branded credit card offering three variants: ELITE, PRIME, and SimplySAVE. The cards feature accelerated reward points, fuel surcharge waivers, utility bill payment options, travel and dining discounts, and contactless payment functionality. Available on RuPay and VISA platforms, the cards can be applied for at Bank of Maharashtra branches. This partnership combines Bank of Maharashtra's 3 crore customer base and ₹5.46 lakh crore business with SBI Card's 20 million cards in force.

12Aug 25

Bank of Maharashtra Engages with Major Institutional Investors in Non-Deal Road Shows

Bank of Maharashtra (BoM) held non-deal road shows on August 11-12, 2025, meeting with six prominent institutional investors including UTI Asset Management, Tata Asset Management, and Aditya Birla Sun Life Insurance. The meetings, conducted in physical mode, adhered to disclosure norms with only publicly available information shared. This initiative demonstrates BoM's commitment to transparent communication with the investment community and compliance with SEBI regulations.

08Aug 25

Bank of Maharashtra Announces Record Dates for Rs 5,119.70 Crore Bond Interest Payments

Bank of Maharashtra has announced record dates for annual interest payments on various bond issues totaling Rs 5,119.70 crore. The announcement covers 11 bond series with payments due between September 1, 2025, and March 31, 2026. The bonds include Basel III Additional Tier I (AT1) bonds worth Rs 1,590.00 crore, Basel III Tier II bonds worth Rs 1,917.70 crore, and Long Term Infrastructure bonds worth Rs 1,612.00 crore. Interest rates range from 7.70% to 8.75%. Record dates span from August 24, 2025, to March 9, 2026. The bank has noted that payments falling on holidays will be processed on the next working day.

04Aug 25

Bank of Maharashtra Appoints Devesh Verma as General Manager for Digital Transformation

Bank of Maharashtra has appointed Devesh Verma as its new General Manager of Digital Transformation, effective August 4, 2025. Verma, 38, brings 17 years of banking sector experience with a focus on digital transformation. He holds a B.Tech in Information Technology and an Executive Programme in Digital Transformation from IIM Indore. Verma's career includes roles at Poonawala Fincorp, Kotak Mahindra Bank, SBI, HDFC Bank, and ICICI Bank. The appointment aims to enhance the bank's digital capabilities and competitiveness in the evolving banking landscape.

30Jul 25

Bank of Maharashtra Cuts MCLR Rates, One-Year Rate Down to 9.00%

Bank of Maharashtra has reduced its Marginal Cost of Funds Based Lending Rate (MCLR) for various tenors, effective July 31, 2025. The one-year MCLR, crucial for most consumer loans, has been cut by 5 basis points to 9.00%. The six-month and three-month tenors saw reductions of 20 and 10 basis points respectively, while short-term rates remained unchanged. This move, communicated to stock exchanges in compliance with SEBI regulations, could potentially lower interest rates for borrowers with MCLR-linked loans.

25Jul 25

ICRA Reaffirms AA+ Ratings on Bank of Maharashtra's Bonds Worth Rs 11,500 Crore

ICRA Limited has reaffirmed its AA+ rating with a stable outlook for Bank of Maharashtra's securities worth Rs 11,500 crore. The rating covers various debt instruments including Basel III Tier II Bonds and Long Term Infrastructure Bonds. The reaffirmation applies to multiple securities with different coupon rates and amounts. ICRA has withdrawn its rating for one Basel III Tier II Bond with an 8.70% coupon rate. This reaffirmation indicates ICRA's continued confidence in the bank's creditworthiness and suggests very low credit risk for these instruments.

25Jul 25

ICRA Reaffirms AA+ Ratings on Bank of Maharashtra's Rs 11,500 Crore Debt Instruments

ICRA Limited has reaffirmed its 'ICRA AA+' rating with a stable outlook for Bank of Maharashtra's debt securities worth Rs 11,500 crore. The rating covers various instruments including Basel III Tier II Bonds and Long Term Infrastructure Bonds. The reaffirmation applies to existing and proposed bonds with different coupon rates. ICRA has withdrawn its rating for one Basel III Tier II Bond with an 8.70% coupon rate. This rating action indicates ICRA's continued confidence in the bank's ability to meet its debt obligations and suggests very low credit risk.

22Jul 25

Bank of Maharashtra Sets Non-Deal Road Shows with Investors for July 25

Bank of Maharashtra (BoM) plans to conduct non-deal road shows and meetings with investors and analysts on July 25, 2025. The engagement will include group meetings and one-on-one sessions, focusing on publicly available information. BoM emphasizes compliance with SEBI regulations and will not share unpublished price-sensitive information. The schedule may be adjusted due to exigencies or unforeseen circumstances.

22Jul 25

Bank of Maharashtra Reports Robust Q1 Performance with 15% Business Growth

Bank of Maharashtra achieved 15% year-on-year business growth, reaching ₹5.46 lakh crore. Net Interest Margin remained healthy at 3.95%. Net Non-Performing Assets ratio improved to 0.18%, with a Provision Coverage Ratio of 98.36%. Cost-to-income ratio improved to 37.57%. The bank plans to open 321 new branches in 18 months and has received approval for an International Banking Unit at GIFT City. Capital Adequacy Ratio stands at 20.50%. The bank maintains its guidance of 17% advance growth and 14% deposit growth.

16Jul 25

Bank of Maharashtra Sets Ambitious Targets Amid Strong Q1 FY26 Performance

Bank of Maharashtra reported robust Q1 FY26 results with net profit up 23.14% to ₹1,593.00 crore. The bank set targets for over 50% CASA ratio and sub-40% cost-to-income ratio. BoM aims for 15% total business growth, with 17% increase in advances and 14% in deposits. Asset quality improved with GNPA at 1.74%. The bank maintains a strong capital position with CAR at 20.06%. Retail advances grew by 35.37%, while MSME sector saw 5.65% growth.

15Jul 25

Bank of Maharashtra Plans ₹10,000 Crore Infrastructure Bond Issue

Bank of Maharashtra announces plans to raise ₹10,000 crore through infrastructure bonds in the current fiscal year. The bank also has approvals to raise ₹5,000 crore in equity and ₹2,500 crore in debt. This move follows strong quarterly results, with net profit up 23.14% to ₹1,593.00 crore and total business growing 14.63% to ₹546,143.00 crore. The bank's gross NPA improved to 1.74% and net NPA to 0.18%.

15Jul 25

Bank of Maharashtra Reports Strong Q1 FY24 Results with 23% Profit Growth and Increased Fresh Slippages

Bank of Maharashtra announced strong Q1 FY24 results with a 23% year-over-year increase in net profit to ₹1,593.00 crore. Net Interest Income grew by 18% to ₹3,292.00 crore. The bank maintained stable asset quality with Gross NPA at 1.74% and Net NPA at 0.18%. However, fresh slippages increased to ₹730.00 crore from ₹660.00 crore in the previous quarter. Provisions decreased to ₹867.41 crore, reflecting a balanced approach to risk management and growth.

04Jul 25

Bank of Maharashtra Reports Strong Growth in Q1: Advances Up 15%, Deposits Rise 14%

Bank of Maharashtra has shown significant year-over-year growth in Q1. Gross advances increased by 15.36% to ₹2.41 lakh crore, while deposits grew by 14.08% to ₹3.05 lakh crore. CASA deposits rose by 14.56% to ₹1.52 lakh crore. The credit-deposit ratio improved to 79.04% from 78.17% in the previous year.

09May 25

Bank of Maharashtra Expands Horizons with RBI Approval for IFSC Banking Unit

Bank of Maharashtra has received approval from the Reserve Bank of India to establish an IFSC Banking Unit in GIFT IFSC, Gujarat. This strategic move allows the bank to expand its international financial services, potentially attracting foreign investments and clients. The IFSC Banking Unit will enable the bank to offer a wider range of international banking services and establish a presence in the global financial market, aligning it with other major Indian banks operating in GIFT IFSC.

25Apr 25

Bank of Maharashtra Reports 22.6% Profit Jump in Q4 FY24, Declares Dividend

Bank of Maharashtra announced impressive Q4 results for FY 2023-24, with net profit rising 22.6% year-over-year to ₹1493.00 crore. The bank's asset quality improved significantly, with GNPA ratio decreasing to 1.74% and NNPA ratio reducing to 0.18%. Net Interest Income grew by 20.60% to ₹3116.70 crore. The bank also declared a dividend of 15% (₹1.50 per share) for FY 2023-24.

08Apr 25

Bank of Maharashtra Announces Regional Rural Banks Merger and Reports Strong Financial Growth

Bank of Maharashtra plans to merge two regional rural banks into Maharashtra Gramin Bank, effective May 1, 2025. The bank also reported impressive financial figures for FY 2025, with total business growing 15.33% to ₹547,159 crore, deposits increasing 13.45% to ₹307,152 crore, and gross advances rising 17.84% to ₹240,007 crore. CASA deposits grew by 14.64%, and the CASA ratio improved to 53.29%.

08Apr 25

Bank of Maharashtra Reports Robust Growth in Deposits and Advances for FY 2025

Bank of Maharashtra announced impressive financial results for the fiscal year ending March 31, 2025. Total deposits grew by 13.45% to ₹307,152.00 crore, while gross advances increased by 17.84% to ₹240,007.00 crore. CASA deposits rose by 14.64% to ₹163,669.00 crore, with the CASA ratio improving to 53.29%. The bank's total business expanded by 15.33% to ₹547,159.00 crore, and the Credit-Deposit ratio stood at 78.14%.

21Mar 25

Bank of Maharashtra to Invest ₹50 Crore in Maharashtra Gramin Bank's Tier-I Bonds

Bank of Maharashtra plans to invest up to ₹50 crore in tier-I perpetual bonds issued by Maharashtra Gramin Bank, a regional rural bank under its sponsorship. The total bond issue is ₹70 crore, with ₹20 crore expected from the market. The bonds offer a 10.15% interest rate and are likely to close by March-end. This investment aims to strengthen the rural bank's capital base and enhance its lending capabilities in Maharashtra's rural areas.

18Mar 25

Bank of Maharashtra Receives SEBI Warning for Non-Compliance with Committee Meeting Regulations

Bank of Maharashtra has received an administrative warning from SEBI for failing to conduct Nomination & Remuneration Committee meetings in FY 2022-23 and 2023-24, violating Regulation 19(3A) of SEBI's Listing Obligations and Disclosure Requirements. The bank asserts this warning will not impact its financial or operational activities and has committed to addressing SEBI's concerns.

17Mar 25

Bank of Maharashtra Receives SEBI Warning for Non-Compliance with Committee Meeting Regulations

Bank of Maharashtra has received an administrative warning from SEBI for failing to conduct Nomination & Remuneration Committee meetings in FY 2022-23 and 2023-24, violating SEBI LODR Regulations. The bank acknowledged the warning, stating it has no financial or operational impact, and committed to addressing the issue. This incident highlights the importance of regulatory compliance and corporate governance for listed entities.

28Feb 25

Bank of Maharashtra Kicks Off UAE Roadshows for Rs 2,500 Crore QIP

Bank of Maharashtra has initiated roadshows in the UAE for a Qualified Institutional Placement (QIP) aiming to raise up to Rs 2,500 crore, potentially diluting a 4.6% stake. The state-owned bank plans to complete the fundraising in the December quarter. Recent financial data shows strong growth, with total assets increasing by 14.75% year-over-year to Rs 307,329.0 crore and current assets rising by 46.85% to Rs 35,458.0 crore as of March 2024. The QIP is expected to strengthen the bank's capital adequacy ratio and support future growth.