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Bank of Maharashtra Reviews

Pune, Maharashtra

4.5/ 5

2 reviews

Bank of Maharashtra (BoM) is a major public sector bank in India, headquartered in Pune, Maharashtra. Established on September 16, 1935, by V.G. Kale and D. K. Sathe under the direction of the Mahratta Chamber of Commerce, the bank was created to provide financial assistance to small businesses, traders, and industrial houses during the cooperative movement. It became a scheduled bank in 1944, attained its banking license in 1955, and was subsequently listed on the Bombay Stock Exchange in 1958. In July 1969, Bank of Maharashtra was nationalized by the Government of India along with 13 other major commercial banks. As a prominent nationalized utility under the ownership of the Ministry of Finance, the Government of India maintains a substantial majority stake in the institution. The bank offers a comprehensive suite of products and services across multiple operating segments, including Retail Banking, Corporate and Wholesale Banking, Treasury Operations, and Agricultural or MSME Lending. Its retail portfolio features a wide array of personal banking products such as savings accounts, current accounts, term deposits, housing loans, vehicle finance, education loans, gold loans, and credit cards. For commercial and corporate clients, the bank provides working capital loans, project finance, infrastructure finance, export credit, lines of credit, and non-fund-based facilities like bank guarantees and letters of credit. It also offers dedicated NRI banking solutions, capital account transaction compliance, and digital banking platforms, including Internet banking and its mobile application, Mahamobile. With a massive operational footprint, Bank of Maharashtra has the largest branch network of any nationalized bank in the state of Maharashtra, while expanding its presence to over 2,600 branches and thousands of ATMs across 29 states and 5 Union Territories. As of mid-2025, the bank serviced over 35 million customers nationwide. For the fiscal year ending March 31, 2026, the company reported total operational revenue of approximately INR 29,282 crore and a net profit of INR 7,017 crore. The organizational leadership is headed by Managing Director and Chief Executive Officer Nidhu Saxena, alongside Executive Directors Rohit Rishi and Asheesh Pandey. Publicly traded on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) under the tickers MAHABANK and 532525 respectively, the bank remains a vital pillar in advancing rural development, supporting priority sector lending, and driving financial inclusion across India.