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Bank of Maharashtra

Bank of Maharashtra: Bank of Maharashtra is a major public sector bank in India. The government of India holds 81.61% of the total shares.The bank has 15 million customers across the length and breadth of the country served through 1897 branches as of 5 April 2016. It has the largest network of branches by any public sector bank in the state of Maharashtra.

History of Bank of Maharashtra

The bank was founded by V. G. Kale and D. K. Sathe and registered as a banking company on 16 September 1935 at Pune.

The bank was registered on 16 September 1935 with an authorised capital of ₹ 1 million, and began business on 8 February 1936. Bank’s financial assistance to small units has given birth to many of today’s industrial houses. After nationalization in 1969, the bank expanded rapidly.

Narendra Singh who had assumed the office of Chairman and Managing Director from 1 February 2012, left his office on 30 September 2013 on attaining superannuation. Sushil Muhnot was the Chairman and Managing Director before Ravindra Prabhakar Marathe. Ravindra Prabhakar Marathe is the current MD and CEO.

Bank of Maharashtra
Type: Public
Traded as : BSE: 532525
NSE: MAHABANK
Industry: Banking, Financial services
Founded: 1935; 83 years ago
Headquarters: 1501, Lokmangal,Shivajinagar,Pune India
Key people:
Ravindra Prabhakar Marathe (Chairman & Managing Director)
Products: consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, savings, Securities, asset management, wealth management, Credit cards,
Revenue Increase ₹13,052.98 crore (US$2.0 billion)
Operating income
Decrease ₹2,345.18 crore (US$360 million) (2016)
Net income
Decrease ₹100.69 crore (US$15 million) (2016)
Total assets Increase₹160,957.32 crore (US$25 billion) (2016)
Owner: Government of India
Number of employees: 13,765(2016)
Capital ratio: 11.20% (2016)
Website: www.bankofmaharashtra.in