Bank of Maharashtra, established in 1933, is a public sector bank headquartered in Pune, India. They offer a comprehensive range of banking products and financial services to cater to the needs of individuals, small and medium enterprises (SMEs), and large corporations. Bank of Maharashtra is engaged in providing banking services. The Bank's segments include Treasury, Corporate/Wholesale Banking, Retail Banking and Other banking operations.
Bank of Maharashtra has a strong presence in rural and semi-urban areas, playing a vital role in financial inclusion initiatives. The bank is known for its customer-centric approach, offering personalized financial solutions and leveraging technology to provide convenient banking services. The bank enjoys a healthy strength of customers in the state of Maharashtra. It has about 50% of its branches located within the parent state while remaining branches are spread across the country indicating a strong national presence.
With over 2,500 branches and 2,000+ ATMs, it offers diverse banking services nationwide, supported by robust digital products and a strong CASA ratio. The bank operates across multiple segments with revenue breakup showing Retail Banking at ~39% in FY24 vs ~35% in FY22, Corporate/ Wholesale Banking at ~36% in FY24 vs ~30% in FY22, Treasury at 21% in FY24 vs 32% in FY22, and Other Operations at 4% in FY24 vs 3% in FY22.
Bank of Maharashtra shares are publicly traded on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The stock symbol of Bank of Maharashtra is NSE: MAHABANK on the NSE, BSE: 532525 on the BSE, and the ISIN is INE457A01014.
As of July 2025, the bank has a market capitalization of ₹44,219 crore, reflecting its position as a significant player in the Indian banking sector. The Bank of Maharashtra's 52-week high share price is Rs 73.50 and 52-week low share price is Rs 38.11. Bank of Maharashtra share price has surged over 243% in the last three years.
Promoter holding in Bank of Maharashtra has gone down to 79.60 per cent as of Mar 2025 from 86.46 per cent as of Sep 2024. This reduction in government stake occurred during the quarter when BoM raised Rs 3,500 crore from Qualified Institutional Placement while Rs 1,000 crore from Tier II bonds. Following QIP, the government stake in the bank came down 79.60 per cent compared to 86.46 per cent in the previous quarter.
Bank of Maharashtra demonstrated strong financial performance in Q3 FY25. Bank of Maharashtra (BoM), a leading public sector bank in India, has announced its financial results for the third quarter of the fiscal year 2024-25, showcasing significant growth in profitability and stable asset quality. During Q3 FY24-25, BoM reported a net profit of ₹1,406 crore, representing a substantial year-over-year growth.
Bank of Maharashtra's revenue jumped 21.55% since last year same period to ₹7,112.66Cr in the Q3 2024-2025. Bank of Maharashtra's net profit jumped 35.94% since last year same period to ₹1,411.60Cr in the Q3 2024-2025. Bank of Maharashtra's net profit margin jumped 11.84% since last year same period to 19.85% in the Q3 2024-2025.
State-owned Bank of Maharashtra (BoM) on Tuesday posted a 44 per cent jump in its profit at Rs 1,327 crore in the second quarter ended September 2024 on account of improvement in interest income. Net Interest Income increased by 15.41% to Rs 2,807 crore. Net Interest Margin (NIM) improved to 3.98%.
Net Profit increased by 55.84% to Rs 4,055 crore on YoY basis against Rs 2,602 crore for the year ended 31.03.2023. Operating Profit has shown a growth of 31.25% to Rs 8,005 crore on YoY basis against Rs 6,099 crore for the year ended 31.03.2023. Net Interest Income (NII) grew by 26.88% on YoY basis to Rs 9,822 crore for the year ended 31.03.2024 as against Rs 7,741 crore for the year ended 31.03.2023.
Return on Assets (ROA) improved to 1.74%. Return on Equity (ROE) improved to 26.01%. Net Interest Margin (NIM) improved to 3.97% as on 31.03.2024. Cost to Income Ratio stood at 38.72%.
The bank has maintained excellent asset quality with Gross NPA declining to 1.80% as on 31.12.2024 against 2.04% as on 31.12.2023. Net NPA declined to 0.20% as on 31.12.2024 against 0.22% as on 31.12.2023. The provision coverage ratio stood at 98.28% as of December 31, 2024, indicating a strengthened financial position.
Total Business grew by 16.90% to Rs 4,93,793 crore. Total Deposits increased by 15.46% to Rs 2,76,289 crore. Gross Advances increased by 18.78% to Rs 2,17,504 crore. Credit - Deposit (CD) Ratio improved to 78.72%.
Bank of Maharashtra Q1 FY26: 14-15% YoY growth in business, deposits, advances; CASA at 50.07%. The bank has maintained a healthy CASA ratio, which is crucial for profitability as it represents low-cost deposits.
The bank has retained a top spot among leading public sector banks in loan and deposit growth during. It has also been able to maintain a healthy CASA (current and savings bank account) ratio i.e. segment which is low cost and contributes to the net profit of the bank.
Their achievements include a significant branch network expansion, particularly in rural areas, launching innovative loan schemes for farmers and SMEs, and receiving recognition for their commitment to financial inclusion. Bank of Maharashtra actively participates in social responsibility initiatives, supporting education, healthcare, and rural development programs.
The bank has also received regulatory recognition, with CARE Ratings reaffirming Bank of Maharashtra's Basel III Tier II and Infra Bonds at CARE AA+ stable on 03.07.2025.
Bank of Maharashtra is recommended as a 'Buy' with a target price of ₹62, reflecting a 24% upside. The bank shows strong performance metrics and plans to raise ₹7,500 crore for growth. The bank's leadership attributes the strong quarterly performance to strategic initiatives aimed at business growth and asset quality improvement. These results reflect Bank of Maharashtra's commitment to enhancing its financial performance and delivering value to its stakeholders.
Bank of Maharashtra stands out as a well-managed public sector bank with strong fundamentals, consistent growth trajectory, and excellent asset quality metrics. The bank's focus on rural and semi-urban markets, combined with its digital initiatives and strong operational performance, positions it well for continued growth in the Indian banking sector.
