Bank of Maharashtra

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Bank of Maharashtra
TypeGovernment owned
Financial services
Founded16 September 1935; 85 years ago (1935-09-16)
Headquarters1501, Lokmangal,
Pune India
Key people
A. S. Rajeev
(MD & CEO) [1]

Hemant Kumar Tamta
(Executive Director)

A.B Vijayakumar
(Executive Director)
RevenueIncrease 13,144.67 crore (US$1.8 billion) (2020)[2]
Increase 2,418 crore (US$340 million) (2020)[2]
Increase 385 crore (US$54 million) (2020)[2]
Total assetsIncrease184,082 crore (US$26 billion) (2020)[2]
Total equityIncrease5,824.11 crore (US$820 million) (2020)[2]
OwnerGovernment of India (92.49%)[2]
Number of employees
13,048 (2020)[2]
ParentMinistry of Finance , Government of India
Capital ratio13.65% (2020)[2]

Bank of Maharashtra is a major Indian government owned bank in India. The bank had 15 million customers across the country with 1,900 branches as of 25 March 2021. It has the largest network of branches of any public sector bank in the state of Maharashtra.[3] The total business of the Bank crossed Rs.2,66,000/- Lakh Crore as on 31 December 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.

Shri A.S Rajeev, assumed charge as Managing Director & CEO of Bank of Maharashtra on 02 December 2018. Shri Hemant Kumar Tamta joined as Executive Director of Bank of Maharashtra on 31 December 2018. Shri A.B. Vijayakumar joined as Executive Director of Bank of Maharashtra on 10th March 2021.

See also[edit]


  1. ^ "BoM appoints new MD CEO". Retrieved 2 December 2018.
  2. ^ a b c d e f g h "Annual Report of Bank of Maharashtra" (PDF).
  3. ^ "Aviva, Bank of Maharashtra in bancassurance tie-up - Times of India". The Times of India. Retrieved 15 January 2018.

External links[edit]