BEYOND HOME
Business Today India|March 31, 2024
Bank of Maharashtra is targeting 2,500 branches by the end of FY24, with a focus on growing high-quality assets
ASHISH RUKHAIYAR
BEYOND HOME

WHEN THE NAME is ‘Bank of Maharashtra’, it’s natural to assume that the lender primarily operates in Maharashtra and the bulk of its branches are in the state, with a focus on Mumbai.

There was a time when the majority of the bank’s business, up to 70%, originated in Maharashtra. However, the Pune-based lender, which emerged as the Best Midsized Indian Bank in the BT-KPMG Best Banks and NBFCs Survey 2022-23, has ensured over the years that the concentration risk has been handled effectively.

At one point, 712 out of 1,833 branches were located outside Maharashtra. Now, there are 1,260 branches out of a total of 2,401 outside Maharashtra, according to Asheesh Pandey, Executive Director, Bank of Maharashtra, and currently the acting head of the bank.

Incidentally, A.S. Rajeev, the former MD & CEO of the bank, exited the bank on February 22 as the government appointed him Vigilance Commissioner in the Central Vigilance Commission.

“Every year, under the direction of our board, we have continued to have a strategy for opening a branch in each of the districts... So now around 40% of business is [from] outside Maharashtra,” says Pandey, who joined the bank as ED in December 2021.

هذه القصة مأخوذة من طبعة March 31, 2024 من Business Today India.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة March 31, 2024 من Business Today India.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

المزيد من القصص من BUSINESS TODAY INDIA مشاهدة الكل
"Inaction is worse than mistakes"
Business Today India

"Inaction is worse than mistakes"

What was the problem you were grappling with?

time-read
1 min  |
January 05, 2025
TEEING OFF WITH TITANS
Business Today India

TEEING OFF WITH TITANS

BUSINESS TODAY GOLF RESUMES ITS STORIED JOURNEY WITH THE 2024-25 SEASON OPENER IN DELHI-NCR. THERE ARE SIX MORE CITIES TO COME

time-read
2 mins  |
January 05, 2025
AI FOOT FORWARD
Business Today India

AI FOOT FORWARD

THE WHO'S WHO OF THE AI WORLD GATHERED AT THE TAJ MAHAL PALACE IN MUMBAI TO DELIBERATE THE TRANSFORMATIVE IMPACT OF AI ON INNOVATION, INDUSTRIES, AND EVERYDAY LIFE.

time-read
1 min  |
January 05, 2025
Decolonising the Walls
Business Today India

Decolonising the Walls

ART START-UP MAAZI MERCHANT IS ON A MISSION TO BRING INDIA'S FORGOTTEN ART BACK HOME

time-read
6 mins  |
January 05, 2025
"I'm bringing Kotak under one narrative, one strategy, one umbrella”
Business Today India

"I'm bringing Kotak under one narrative, one strategy, one umbrella”

Ashok Vaswani is a global banker who spent most of his career overseas at institutions like Citi Group and Barclays, among others.

time-read
9 mins  |
January 05, 2025
CHOOSING THE CHAMPIONS
Business Today India

CHOOSING THE CHAMPIONS

The insights and methodology behind the BT-KPMG India's Best Banks and NBFCs Survey 2023-24.

time-read
8 mins  |
January 05, 2025
'INDIA IS AT AN EXTREMELY SWEET SPOT'
Business Today India

'INDIA IS AT AN EXTREMELY SWEET SPOT'

The jury members of the BT-KPMG Survey of India's Best Banks and NBFCs discuss developments in the banking sector and more

time-read
6 mins  |
January 05, 2025
FROM CRISIS TO TRIUMPH
Business Today India

FROM CRISIS TO TRIUMPH

Dinesh Kumar Khara stewarded SBI through multiple challenges during his tenure, while ensuring that profits tripled, productivity soared, and the bank consolidated its global standing

time-read
3 mins  |
January 05, 2025
AT A CROSSROADS
Business Today India

AT A CROSSROADS

BANKS ARE FACING CHALLENGES ON BOTH SIDES OF THE BALANCE SHEET-ASSETS AS WELL AS LIABILITIES-WHICH ARE PUTTING PRESSURE ON MARGINS.

time-read
5 mins  |
January 05, 2025
EXPANSIVE VISION
Business Today India

EXPANSIVE VISION

Bajaj Finance, an outlier in terms of digitisation, faces stiff competition. But it continues to expand its reach

time-read
4 mins  |
January 05, 2025