Page 2 - Bank Of Maharashtra

Bank of Maharashtra signs MoU with SBI Card for co-branded credit cards

State-owned Bank of Maharashtra on Wednesday entered into a strategic co-branding partnership with SBI Card to launch co-branded credit cards tailored to meet the evolving financial and lifestyle needs of its customers. Under this partnership, bank customers will be able to access a range of co-branded credit cards, designed with attractive features including reward points, cashback offers, fuel surcharge waivers, EMI facilities, and exclusive merchant discounts across key spending categories like dining, travel, and e-commerce, Bank of Maharashtra (BoM) said in a statement. Speaking on the occasion, BoM MD and CEO Nidhu Saxena said, "This co-branded card partnership with SBI Card marks a significant step in enhancing our retail product portfolio and delivering greater value to our customers." It reflects the bank's commitment to offering modern, convenient, and rewarding financial solutions through trusted alliances, he said in a statement. This collaboration aims to enhance custo

BoM, BoB reduce lending rates following RBI's recent policy action

Bank of Maharashtra cuts retail loan rates by up to 50 bps; Bank of Baroda trims MCLR on select tenors with effect from 12 June as banks align with RBI move

Bank of Maharashtra cuts retail loan rates by up to 50 bps post RBI move

Bank of Maharashtra, Bank of Baroda and other PSU banks cut lending rates following RBI's 50 bps repo rate reduction, with home loans now starting at 7.35 per cent

Bank of Maharashtra, UCO Bk, IOB: PSBs rise up to 6% on June 2; here's why

The Nifty PSU Bank index rose as much as 1.96 per cent to hit an intraday high of 7,010.45, with all its constituents trading in the green.

Dividend stocks: Bajaj Finance, Coforge, BOM, 2 others to remain in focus

Here is the complete list of stocks that will remain in the spotlight during trading sessions following their dividend announcements to shareholders as they go ex-date on Friday, May 9, 2025

RBI fines ICICI, Axis, three other banks for regulatory compliance lapses

The RBI said the banks' non-compliance involved cybersecurity, customer charges, KYC norms, and internal account mismanagement

Bank of Maharashtra Q4 results: Net profit rises 23% to ₹1,493 crore

Total income increased to ₹7,711 crore during the quarter under review against ₹6,488 crore in the same period of the previous year

Bank of Maharashtra cuts repo-linked lending rate by 25 bps to 8.80%

State-owned Bank of Maharashtra (BoM) has announced reduction in lending rate linked to repo rate by 25 basis points in line with the Reserve Bank's key policy rate. The bank's repo-linked lending rate (RLLR) has now been reduced from 9.05 per cent to 8.80 per cent, BoM said in a statement on Monday. The Reserve Bank of India (RBI) on Wednesday slashed key interest rates by 25 basis points for the second time in a row to support growth facing the threat of reciprocal tariffs by the US. The reduced rates will make loans more affordable and enhance the financial well-being of its customers, it said. Since all retail loans offered by the bank are linked to the RLLR, this reduction would benefit customers availing home, car, education, gold and all other retail loan products, it said. The home loan offered by the bank would start from 7.85 per cent per annum while car loans will be priced from 8.20 per cent per annum, which are among the lowest in the banking industry, it ...

Bank of Maharashtra's credit growth surpasses total deposit growth

The lender's total advances grew by 17.8 per cent year-on-year to Rs 2.4 trillion, while on a quarterly basis, advances were up by 5 per cent

Bank of Maharashtra clocks 18% loan growth in Q4, total biz hits Rs 5.5 trn

State-owned Bank of Maharashtra (BoM) on Tuesday said it has registered a credit growth of 17.84 per cent at Rs 2.40 lakh crore in January-March quarter. The outstanding credit was Rs 2.03 lakh crore at the end of March 31, 2024, BoM said in a regulatory filing. The Pune-headquartered lender reported a 13.45 per cent increase in total deposits to Rs 3.07 lakh crore in the reporting quarter as against Rs 2.70 lakh crore at the end of the fourth quarter of the previous financial year. As a result, total business (total credit and deposits) of the bank registered an increase of 15.3 per cent to Rs 5.47 lakh crore as against Rs 4.74 lakh crore at the end of March 2024. During the latest fourth quarter, it said, the Current Accounts and Savings Accounts (CASA) ratio improved to 53.29 per cent of the total deposits as against 52.73 per cent in the same period of the preceding financial year. The credit-deposit ratio increased to 78.14 per cent in the fourth quarter as against 75.22 per

Bank of Maharashtra stock rallies 5% as Q4 gross loans rise 18% YoY

Bank of Maharashtra shares advanced after the public sector bank reported double-digit growth in loans and deposits in its March 2025 quarter (Q4FY25) business update

Small-cap banks take the lead in average spend per credit card transaction

Credit-card spending for January stood at Rs 1,841 billion, marking a two per cent slide month-on-month (MoM), but a strong 14 per cent year-on-year growth

Central Bank, IOB, UCO Bank rise up to 4% in trade on Feb 25; here's why

The uptick in these stocks came after the DIPAM invited bids from merchant bankers to assist the government in its planned stake sale in public sector banks and listed financial institutions

Bank of Maharashtra cuts interest rate by 25 basis points on retail loans

State-owned Bank of Maharashtra (BoM) has cut interest rate by 25 basis points on retail loans, including home and car loans in line with reduction in repo rate by RBI. After a gap of 5 years, RBI reduced the repo rate, the rate at which banks borrow from the central bank, by 25 basis points to 6.25 per cent on February 7. Following this, the benchmark rate for home loan has been reduced to 8.10 per cent, one of the lowest in the banking industry, BoM said in a statement on Sunday. At the same time, it said, car loan came down to 8.45 per cent per annum. Similarly, education and other loans linked with Repo Linked Lending Rate (RLLR) has also been reduced by 25 basis points. The bank has already waived processing fees on home and car loans, it said, adding, this dual benefit of reduced interest rates and waiver of processing fees reflects the bank's commitment to offer best financing solutions to all its customers and help them fulfil their dreams. Meanwhile, the Pune-based lende

Bank of Maharashtra receives RBI's approval for opening GIFT City branch

State-owned Bank of Maharashtra (BoM) on Sunday said it has received approval from the Reserve Bank of India to set up an International Financial Services Centre (IFSC) Banking Unit at GIFT City. The branch will function as Bank of Maharashtra's first international branch carrying out offshore banking operations from India. Speaking on the development, BoM MD & CEO Nidhu Saxena said," This is a significant opportunity for our bank as we continue to expand our operations across geographies. The opening of IBU in GIFT City will be yet another milestone in the bank's growth story." This development will help expand international banking business and also enable the bank provide specialised banking services to its customers, he added. Aligned with the government's vision of making India an international financial hub, the GIFT City, located in Gandhinagar, Gujarat is India's first IFSC, aimed at revolutionizing India's financial ecosystem by providing world-class banking services ...

New norms likely to reduce Bank of Maharashtra's LCR by 5 basis point

The Reserve Bank of India (RBI) proposed revised LCR norms in late July 2023, suggesting that banks assign an additional 5 per cent run-off factor for retail deposits accessible through IMB

Bank of Maharashtra eyes QIP of Rs 2,500 cr in FY26 to support biz growth

Reduce GOI stake, support business growth

Bank of Maharashtra Q3FY25 results: Net profit rises 36% to Rs 1,406 crore

State-owned Bank of Maharashtra (BoM) on Wednesday posted a 36 per cent rise in net profit to Rs 1,406 crore in the third quarter ended December 2024 with rising interest income. The Pune-based lender had posted a net profit of Rs 1,036 crore in the October-December period a year ago. Total income increased to Rs 7,112 crore during the quarter under review against Rs 5,851 crore in the same period previous year, BoM said in a regulatory filing. The bank earned an interest income of Rs 6,325 crore during the quarter compared to Rs 5,171 crore a year ago. The bank was able to reduce gross Non-Performing Assets (NPAs) to 1.80 per cent of the gross loans by the end of December 2024 from 2.04 per cent in the year-ago period. Similarly, net NPAs or bad loans came down to 0.2 per cent from 0.22 per cent at the end of the third quarter of the previous fiscal. The Provision Coverage Ratio (PCR) as of December 31, 2024, is 98.28 per cent. The bank has raised Rs 3,500 crore through Qualifi

Bank of Maharashtra shares up 6% post Q3 update; gross advances rise 21%

In its Q3 update, Bank of Maharashtra said that its gross advances increased 21.19 per cent to Rs 2,28,652 crore as compared to Rs 1,88,670 crore a year ago

Astral, BoM, BDL: 5 mid, smallcap stock ideas with up to 36% upside in 2025

As many as 30 mid, smallcap stocks more-than-doubled investors wealth in 2024 as MidCap and SmallCap indices outperformed benchmark Nifty 50 with over 30 per cent gain. Here are stock picks for 2025.