Bank of Maharashtra
Bank of Maharashtra, founded in 1935 and nationalised in 1969, is a leading public sector bank headquartered in Pune. With over 2,600 branches, it has the widest network in Maharashtra. The bank provides retail, corporate, and digital banking services and is majorly owned by the Government of India. It also supports MSMEs, agriculture, financial inclusion, and promotes various government welfare schemes across the country.
Business Segments
Bank of Maharashtra operates through Treasury, Corporate, Retail, Agriculture, and MSME segments. It offers loans, investment services, and digital banking to individuals and businesses. The bank also provides insurance, demat, and other value-added financial services.
Revenue Breakup – Q1 FY25 (₹ Crore)
- Retail Banking :43.1%
- Corporate / Wholesale :33.1%
- Treasury Operations :23.3%
- Other Banking Ops :0.5%
Shareholding Pattern (July 2025)
Financial Summary
| Particular | Mar-21 | Mar-22 | Mar-23 | Mar-24 | Mar-25 |
| Revenue | 11,869 | 13,019 | 15,899 | 20,495 | 24,948 |
| Sales Growth % | 3.25% | 9.70% | 22.12% | 28.91% | 21.73% |
| Interest | 6,970 | 6,974 | 8,157 | 10,672 | 13,281 |
| Expenses | 6,788 | 7,278 | 6,314 | 8,542 | 9,311 |
| Financin Profit | -1,889 | -1,233 | 1,428 | 1,281 | 2,356 |
| PBT | 571 | 1,153 | 3,448 | 4,072 | 5,542 |
| Net Profit | 571 | 1,153 | 2,605 | 4,072 | 5,542 |
Final Outlook
Bank of Maharashtra – Fundamental Outlook
Bank of Maharashtra continues its strong trajectory in FY26, delivering robust operating performance, high-quality growth, and sector-leading efficiency. In Q1 FY26, the bank reported a net profit of ₹1,592.8 crore, up 23% YoY, with a Net Interest Margin (NIM) of 3.95% and Return on Assets (RoA) at 1.80%. The cost-to-income ratio stood at an efficient 37.57%, despite continued investment in branch expansion and recruitment.
Asset quality remains best-in-class, with Gross NPA at 1.74%, Net NPA at 0.18%, and a Provision Coverage Ratio (PCR) of 98.36%. Though slippages rose to ₹727 crore—mainly from the Agri segment—they are expected to normalize over the coming quarters.
The bank’s total business reached ₹5.46 lakh crore (+15% YoY), backed by stable deposit growth and strong performance in retail and gold loans. Segment-wise, Retail Banking contributed 43.1% of revenue, followed by Corporate/Wholesale at 33.1%, and Treasury at 23.3%.
BoM’s capital adequacy ratio stands at 20.06%, providing ample room for growth without near-term fundraising. Strategic initiatives like Project 321 (321 new branches), a revamped mobile banking app, and the launch of GIFT City IBU mark a significant shift toward long-term expansion and international presence.
Outlook for FY26 remains solid, with management reaffirming guidance: NIM at 3.75%, credit cost below 1%, and advance growth at 17%. With its balanced focus on profitability, digital transformation, and risk management, Bank of Maharashtra is well-positioned to sustain leadership among PSU banks.
Bank of Maharashtra remains a top-performing PSU bank, backed by strong profitability, superior asset quality, and robust capital adequacy. Strategic branch expansion, digital upgrades, and conservative risk management position it well to sustain growth momentum. Its consistent delivery makes it a reliable candidate for continued outperformance in FY26.
