Bank of Maharashtra
Bank of Maharashtra was founded in 1935 as an institution of offering banking facilities to retail and corporate clients in the banking sector.
The bank has its headquarters in Lokmangal, Shivajinagar. Its key officials include Allen C A Pereira who acts as its chairman.
Some of the banking services that the bank offers to its customers include loans, savings accounts, investment tools and system and other allied products.
The bank has a total revenues capacity of about 4630 million. Its total assets sum up to about Rs. 481 billion.
Bank of Maharashtra is regarded as the premier bank in India. It has an authorized capital of about Rs. 10.00 lakh. The bank is regarded as the common man bank’s most likely due to its affiliations with ordinary members of the public.
This is widely demonstrated in its ability to offer direct and indirect banking services to the local residents of India. The other reason that makes it be regarded as such is its ability to take part in developmental projects that are aimed at advancing its corporate status and at the same time improve the standards of living for the citizens of India.
Bank of Maharashtra has a total of 1375 branches all over India. It is considered as having the largest network of bank branches by any public sector financial institution in Maharashtra state. The nationalized bank India has well organized plans including the plan of catering for the needs of the family in the whole state. It attained an independent banking status in 1998.
It has enabled the provision of more and more banking services with simplified procedures without the obvious interference of the government of India. This has made it one of the best choices of banks in the financial sectors in India.
Bank of Maharashtra excels in social and corporate banking overlooking the aspect of profits. It is regarded as having a good share of priority particularly in its retail banking sector. It is the convener of the renowned state level Bankers committee. It offers depository services at its various branches located in India.
It has business affiliations with LIC of India and the United India Insurance Company for trade of Insurance policies with both retain and corporate clients. The bank has future plans that include crossing of the business level of Rs. 85,500 crores by March 2009. It also plans to record saving s deposit growth by a rate of 17.69%.