 | |
| Company type | Public |
|---|---|
| ISIN | INE457A01014 |
| Industry | |
| Founded | 16 September 1935; 90 years ago (1935-09-16) |
| Headquarters | Lokmangal, 1501,Shivajinagar,, India |
Number of locations | 2,641 branches (June 2025) |
Key people |
|
| Services | Consumer banking,Corporate banking,Financial services,Investment banking,Mortgage loans,Private banking,Wealth management |
| Revenue |  ₹28,401 crore (US$3.4 billion) (FY25[2]) |
| ₹5,519 crore (US$650 million) (FY25[2]) | |
| Total assets | ₹369,354 crore (US$44 billion) (2025[3]) |
| Total equity | ₹113,834 crore (US$13 billion) (2025[3]) |
| Owner | Government of India (79.60%) |
Number of employees | 14591[4] (2025) |
| Website | bankofmaharashtra |
Bank of Maharashtra (abbreviated asBoM) is an Indianpublic sector bank, based inPune. It was established in 1935 andnationalised by theGovernment of India in 1969. It has 2,641 branches, as of June 2025.[5]
Bank of Maharashtra was established on 16 September 1935 inPoona,Bombay Presidency (present dayPune,Maharashtra), under the direction ofMahratta Chamber of Commerce to assist small businesses and traders during thecooperative movement in India.[6][7]
BoM became ascheduled bank in 1944, obtained abanking license in 1955 under theBanking Companies Act, and listed on theBombay Stock Exchange in 1958.[6]
In 1961, it acquired three smaller banks in Maharashtra, viz., Bank of Konkan inMalvan, Bank of Nagpur inNagpur, and Bharat Industrial Bank in Poona.[8]
BoM was one of the14 banks nationalised by theGovernment of India in July 1969.[9]
In 2004, BoM went public again with aninitial public offering, following which Government of India's ownership stake in the bank reduced from 100% to 76.77%.[10][11]
BoM started threeregional rural banks (RRBs) in association with central andstate governments: Marathwada Gramin Bank inNanded (1976), Aurangabad-Jalna Gramin Bank inAurangabad (1981), and Thane Gramin Bank inThane (1986).[12] These RRBs were merged to create theMaharashtra Gramin Bank in 2009.[13][14]
TheMaharashtra Gramin Bank was further amalgamated on May 1, 2025 with Vidarbha Konkan Gramin Bank under The "One State, One RRB"[15] policy ofGovernment of India to form single RRB per state.
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