Bank of Maharashtra is a nationalised bank under the ownership of Ministry of Finance , Government of India. The bank had 29 million customers across the country with 2022 branches as of Mar 2022. It has the largest network of branches of any nationalised bank in the state of Maharashtra. The total business of the bank crossed ₹ 3,15,620 lakh crore as on 31 December 2021.
|Type||Public Sector Bank|
|Founded||16 September 1935|
Number of locations
|A. S. Rajeev|
(MD & CEO)
A. B Vijayakumar
|Revenue||₹13,144.67 crore (US$1.7 billion) (2020)|
|₹2,418 crore (US$320 million) (2020)|
|₹385 crore (US$51 million) (2020)|
|Total assets||₹184,082 crore (US$24 billion) (2020)|
|Total equity||₹5,824.11 crore (US$760 million) (2020)|
|Owner||Government of India (93.33%)|
Number of employees
|Parent||Ministry of Finance , Government of India|
|Capital ratio||13.65% (2020)|
The bank was founded by V.G.Kale and D. K. Sathe in Pune, India.
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.