Bank of Maharashtra is a leading Indian Public Sector Bank with a pan-India and global presence. The public sector lender is a leading player in the financial services and banking sector. The financial services offered by the bank include deposit schemes, loans, overdrafts, credit cards and various savings schemes like SIP (Systematic Investment Plan). The bank is also active in providing ancillary services such as insurance.
Bank of Maharashtra was founded by V.G. Kale and D.K. Sathe. It was promoted by erstwhile parent organisation Maharashtra Chamber of Commerce. The bank was formally registered on September 16, 1935.
It presently has 2263 branches across the country and it has emerged as one of the top performing public sector banks in India.
The products and services of the bank encompass home loans, vehicle loans, and loans against all other assets. Deposit schemes include fixed term deposits, savings and current account deposits, which cater to the needs of both retail and corporate segments. The bank also offers digital banking services. The bank’s customer base currently stands at over 3 crore.
As per the shareholding pattern of the bank as of the quarter ending September 30, 2023, 86.5% stake is held by the government and the general public holds 7% while the financial and other institutions hold the remaining 7% of the bank’s total shares.
The market capitalisation of Bank of Maharashtra stood at nearly ₹32,000 crore as of December 29, 2023. Bank of Maharashtra share price has surged over 243% in the last three years.
Bank of Maharashtra business operations
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. 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.
Financial highlights
- The total business for FY23 of the bank stood at ₹4,09,202 crore, up 21.23% year-on-year compared to ₹3,37,534 crore in FY22.
- The bank reported a net profit of ₹2,602 crore in FY23 as against ₹1,152 crore in FY22.
- The total deposits grew to ₹2,34,083 crore in FY23 from ₹2,02,294 crore in the preceding fiscal.
- The bank’s Net Interest Income (NIM) stood at ₹7,741 crore in FY23 as against ₹6,044 crore in FY22.
- The net interest margin (NIM) of the bank stood at 3.56% in FY23 against 3.15% in FY22.
- The net NPA (non-performing assets) ratio of the bank improved to 0.25% in FY23 compared to 0.97% in FY22.
- The lender’s earnings per share (EPS) stood at ₹3.87 in FY23 compared to ₹1.73 in FY22.
Bank of Maharashtra Share Price Today
As of 15 Jun 2026, Bank of Maharashtra share price is ₹87.30. The stock opened at ₹84.40, compared to its previous close of ₹83.08. During today's trading session, Bank of Maharashtra share price moved in the range of ₹83.67 to ₹87.62, with an average price of ₹85.65 for the day. Looking at its last 52-week, the stock has touched a low of ₹83.67 and a high of ₹87.62. On the performance front, Bank of Maharashtra share price has increased by 53.08% over the last six months and is up 61.40% on a year-on-year basis.
The market capitalization of Bank of Maharashtra is ₹67,140 Crs, with a P/E ratio of 6.7 and a dividend yield of 1.96%.
