Bank of Maharashtra
Bank of Maharashtra, also known as BoM, is one of India's major public sector banks headquartered in Pune, Maharashtra. Established on September 16, 1935, by V.G. Kale and D.K. Sathe, it started with a vision to support small businesses and has since grown into a substantial financial entity. As of 2023, the Bank of Maharashtra operates with an extensive network of over 2263 branches nationwide and employs around 13,499 people. It is noteworthy for having the largest network of branches of any nationalized bank in the state of Maharashtra.
The bank was nationalized in 1969, aligning with the government's strategy to ensure more significant control over the banking sector. Over the years, Bank of Maharashtra has played a crucial role in financial inclusion and the development of rural banking. In fiscal year 2022-23, it showcased remarkable performance in terms of loan and deposit growth, notably being hailed as the top-performing public sector bank in these metrics. The bank reported a net income of ₹2,602 crore, an impressive growth of almost 126% compared to the previous year.
Beyond conventional banking, BoM has expanded its services to include consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, asset management, and wealth management. The Bank of Maharashtra has adapted to the digital era by incorporating online banking technologies, thereby enhancing customer convenience and broadening its reach.
The leadership at Bank of Maharashtra has been pivotal in its growth trajectory. Currently, it is led by MD & CEO Nidhu Saxena, with key contributions from executive directors like Asheesh Pandey and Rohit Rishi. Former noteworthy leaders include Allen C. Pereira, who especially focused on expanding the bank’s presence in India's northeastern region.
Bank of Maharashtra continues to uphold its commitment to customer service and operational excellence. As it moves forward, the bank remains dedicated to contributing substantially to India's banking sector, reflecting its foundational slogan, 'Ek Parivaar, Ek Bank' ('One Family, One Bank').
Bank of Maharashtra, also known as BoM, is one of India's major public sector banks headquartered in Pune, Maharashtra. Established on September 16, 1935, by V.G. Kale and D.K. Sathe, it started with a vision to support small businesses and has since grown into a substantial financial entity. As of 2023, the Bank of Maharashtra operates with an extensive network of over 2263 branches nationwide and employs around 13,499 people. It is noteworthy for having the largest network of branches of any nationalized bank in the state of Maharashtra.
The bank was nationalized in 1969, aligning with the government's strategy to ensure more significant control over the banking sector. Over the years, Bank of Maharashtra has played a crucial role in financial inclusion and the development of rural banking. In fiscal year 2022-23, it showcased remarkable performance in terms of loan and deposit growth, notably being hailed as the top-performing public sector bank in these metrics. The bank reported a net income of ₹2,602 crore, an impressive growth of almost 126% compared to the previous year.
Beyond conventional banking, BoM has expanded its services to include consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, asset management, and wealth management. The Bank of Maharashtra has adapted to the digital era by incorporating online banking technologies, thereby enhancing customer convenience and broadening its reach.
The leadership at Bank of Maharashtra has been pivotal in its growth trajectory. Currently, it is led by MD & CEO Nidhu Saxena, with key contributions from executive directors like Asheesh Pandey and Rohit Rishi. Former noteworthy leaders include Allen C. Pereira, who especially focused on expanding the bank’s presence in India's northeastern region.
Bank of Maharashtra continues to uphold its commitment to customer service and operational excellence. As it moves forward, the bank remains dedicated to contributing substantially to India's banking sector, reflecting its foundational slogan, 'Ek Parivaar, Ek Bank' ('One Family, One Bank').
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