Bank of Maharashtra

#3023

Rank

$4.79B

Marketcap

India

Country

Leadership team

Mr. Aerathu Sekharapanicker Rajeev (MD, CEO & Exec. Director)

Mr. Vijay Prakash Srivastava (Chief Financial Officer)

Mr. A. B. Vijayakumar (Exec. Director)

Products/ Services

Banking

Number of Employees

1,000 - 20,000

Headquarters

Pune, Maharashtra, India

Established

1935

Net Income

100M - 500M

Revenue

Above - 1B

Traded as

MAHABANK.NS

Social Media

URL

https://www.bankofmaharashtra.in

Overview

Location

Recognition and Award

References

Summary

Bank of Maharashtra provides various banking products and services in India. The company operates through Treasury, Corporate/Wholesale Banking, Retail Banking, and Other Banking segments. It accepts savings, current, and term deposits, as well as provides capital gain account schemes. The company also offers housing loans, vehicle loans, topup loans, education loans, gold loans, consumer and personal loans, salary again schemes, and adhaar loans, as well as loans against properties; working capital, term, project, infrastructure, export, and bill financing services; lines of credit; commercial lease rental services; accounts takeover services; non-fund based services; micro, small, and medium enterprise loans; and agriculture loans. In addition, it provides digital banking and lending services, and government schemes; documentary credits and collections, import and export financing, guarantees, travel related forex, non-resident Indian services, remittance schemes, and risk management services; and remittance facilities, as well as hedges exchange risk. As of March 31, 2022, it operated 2,072 banking outlets, and 2,128 automated teller machines and cash recycler machines. Bank of Maharashtra was incorporated in 1935 and is headquartered in Pune, India.

History

The bank was founded by V.G.Kale and D. K. Sathe in Pune. 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.

Allen C Pereira, Former Chairman of Bank of Maharashtra was responsible for having opened several branches of the branch in the North East Zones of India where the bank had no presence and helped scaling up.

Mission

To be a vibrant, forward looking, techno-savvy, customer centric bank serving diverse sections of the society, enhancing shareholders' and employees' value while moving towards global presence.

Vision

To be a vibrant, forward looking, techno-savvy, customer centric bank serving diverse sections of the society, enhancing shareholders' and employees' value while moving towards global presence.

Key Team

Mr. Asheesh Pandey (Exec. Director)

Mr. Prashant R. Khatavkar (Gen. Mang. of FMA, Treasury & International Banking)

Mr. Divesh Kumar Dinkar (GM & CTO)

Mr. Chandrakant Bhagwat (Compliance Officer & Company Sec.)

Mr. Sanjay R Rudra (GM & Chief Risk Officer)

Mr. Nadendla Rambabu (Gen. Mang.)

Mr. Unnam R. Rao (Gen. Mang.)

Recognition and Awards

Bank of Maharashtra has won many national and international awards such as "Technology Bank of the Year" award presented at the 35th Global Sourcing Summit in India, the "Smart Money" award presented at the Global Business Alliance in India, and the Banking Technology Innovation Award presented at the Global Banking Technology Summit in London in 2019.