Page 9 - Bank Of Maharashtra

Stocks to Watch: RIL, Lupin, SBI, Maruti, PowerGrid, Minda, BoM, Vedanta

Maruti Suzuki India (MSI) is currently analysing customer feedback to ascertain if the Jimny brand can be introduced in India

Bank of Maharashtra slashes retail lending rates by up to 40 bps

The Pune-based lender's outstanding home loans stood at Rs 19,112 crore as of September 2021

Bank of Maharashtra Q2 net up 103% to Rs 264 cr on robust interest, income

The state-owned bank's net profit rose 102.7 per cent YoY to Rs 264 crore from Rs 130 crore

BoM Q2 net profit doubles, writes-off Srei's Rs 550-cr exposure

The bank's asset quality profile showed an improvement with gross NPAs declining to 5.56%

Sensex slips 336pts; Nifty Bank at new high; RIL falls 3%, TaMo DVR up 10%

Stock market LIVE: The broader markets also ended with notable losses as profit-taking continued for the third straight trading session, amid valuation and inflation concerns

Bank of Maharashtra launches digital lending platform for home, car loans

State-owned Bank of Maharashtra on Friday said it has launched a digital lending platform for its home and car loan customers.

Videocon insolvency process: BoM raises issue of breach of confidentiality

Bank of Maharashtra has raised the issue of the breach of confidentiality in the corporate insolvency resolution process of the debt-ridden group before the National Company Law Appellate Tribunal

Bank of Maharashtra expects total business to cross Rs 3 trn soon

The bank has been a performer in various key parameters, including deposit mobilisation, credit growth, recovery, risk management etc, BoM managing director and CEO A S Rajeev said

Bank of Maharashtra waives loan processing fees under special offer

State-owned Bank of Maharashtra (BoM) has announced a slew of offers, including concessional interest rates and a 100 per cent waiver on processing fees on retail loans. The bank under 'Retail Bonanza-Monsoon Dhamaka' waived the processing fee for its gold, housing and car loan and the offer is valid till September 30, 2021, BoM said in a statement on Friday. The bank offers housing and car loans with interest rates starting from 6.90 per cent and 7.30 per cent, respectively. The retail products are backed by several lucrative features like two free EMIs on regular repayment in the home loan; loan facility up to 90 per cent in the car and housing loans; and no pre-payment/pre-closure/part payment charges etc., it said. Commenting on the special offer, BoM executive director Hemant Tamta said, "We intend to gift our customers an attractive proposition for availing gold, housing and car loans, who will be benefited from lower rates and waiver of processing fee offer. The Pune-based

Govt appoints Lalit Kumar Chandel on Bank of Maharashtra board

The government has appointed Lalit Kumar Chandel, Economic Adviser, Department of Financial Services, on the board of Bank of Maharashtra

Tata Motors signs up Bank of Maharashtra for passenger vehicle financing

Bank of Maharashtra will provide loans to Tata Motors' customers at an interest rate starting 7.15 per cent.

BoM tops PSU banks chart in terms of loan, saving deposit growth in Q1

State-owned Bank of Maharashtra (BoM) has emerged as the top performer among public sector lenders in terms of loan and savings deposit growth during the first quarter of the current financial year. The Pune-headquartered lender recorded 14.46 per cent increase in gross advances at Rs 1,10,592 lakh crore in April-June period of 2021-22, as per the published data of BoM. It was followed by Punjab & Sind Bank which posted 10.13 per cent growth in advances with aggregate loans at Rs 67,933 crore at the end of June 2021. When it came to deposit mobilisation, BoM with nearly 14 per cent growth was a notch behind Punjab and Sind Bank, while the country's largest lender State Bank of India recorded 8.82 per cent rise. However, in absolute terms SBI's deposit base was 21 times higher at Rs 37.20 lakh crore as against Rs 1.74 lakh crore of BoM. Current Account Savings Account (CASA) for BoM saw 22 per cent rise, the highest among the public sector lenders, during the quarter. As a result,

Govt banks continue to have truncated boards, 10 don't even have a chairman

Meeting quorum of board sub-committees becomes difficult sometimes, say bankers

Finance Ministry suggests extending terms of CEOs, EDs at state-owned banks

Leaders of Punjab National Bank, UCO Bank and Bank of Maharashtra likely to get more time at their jobs.

Bank of Maharashtra Q1 net doubles to Rs 208 cr, major improvement in NPAs

NII up 29% in Q1FY22 to Rs 1,406 crore; NIM rises to 3.05% from 2.43% a year ago

Bank of Maharashtra closes QIP, raises about Rs 404 crore from issue

State-owned Bank of Maharashtra on Friday closed its qualified institutional placement (QIP) in which it raised about Rs 404 crore by allotting over 17 crore shares to eligible investors.

Bank of Maharashtra fixes floor price at Rs 24.89 per share for QIP

State-run Bank of Maharashtra (BoM) on Tuesday said the board has fixed floor price of Rs 24.89 per share for the proposed Rs 2,000 crore qualified institutional placement (QIP).

Bank of Maharashtra tops PSU bank chart in MSME loan growth in FY21

State-owned Bank of Maharashtra (BoM) has become top performer among public sector lenders in terms of retail and MSME loan growth during 2020-21. The Pune-based lender recorded a 35 per cent growth in MSME loans at Rs 23,133 crore in 2020-21, according to the BoM data. It was followed by the Chennai-based Indian Bank which posted a 15.22 per cent growth in loan disbursal to MSMEs with aggregate loans at Rs 70,180 crore at the end of March 2021. When it came to loans to retail, BoM with nearly 25.61 per cent growth was ahead of even the country's largest lender State Bank of India, which recorded 16.47 per cent rise. However, in absolute terms SBI's asset base to retail segment was a whopping 30 times higher at Rs 8.70 lakh crore as against Rs 28,651 crore of BoM. Bank of Baroda increased its retail loan portfolio by 14.35 per cent to Rs 1.20 lakh crore during the last fiscal year, the data showed. For the full year 2020-21, BoM's standalone net profit jumped nearly 42 per cent

Bank of Maharashtra plans to raise up to Rs 2,000 cr through QIP

State-run Bank of Maharashtra is looking to raise up to Rs 2,000 crore through qualified institutional placement (QIP) route before July-end, its Managing Director and CEO A S Rajeev said. In April this year, the Pune-based lender had received board approval to raise Rs 5,000 crore by way of QIP/rights issue/ preferential issue or by issuing Basel III bonds. "We are planning to raise around Rs 2,000 crore equity through QIP immediately. The process has already started and we will raise it before July-end, Rajeev told PTI in an interaction. The base size of the issue is Rs 1,000 crore and it has a greenshoe option of another Rs 1,000 crore, he said. Following this equity raise, the government's holding in the bank will reduce to below 85 per cent from 94 per cent currently, and the capital adequacy ratio will improve to 17-18 per cent from around 14.49 per cent as of March 31, 2021, Rajeev said. This fund will be deployed for expansion of the loan book, which the bank is looking to

Bank of Maharashtra net profit jumps to Rs 165 cr in March quarter

This was mainly due to a decline in gross NPAs