Bk of Maharashtra aims 17% loan growth FY26; to open 321 branches in 18 mos
This story was originally published at 16:21 IST on 15 July 2025
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--Bank of Maharashtra: No major concern about unsecured microfinance book
--CONTEXT: Comments by Bank of Maharashtra mgmt in post-earnings press meet
--Bank of Maharashtra: Aim to maintain CASA ratio above 50%
--Bank of Maharashtra: Aim to achieve 17% credit growth in FY26
--Bank of Maharashtra: Plan to open 321 branches over next 18 months
--Bank of Maharashtra: Board nod to opening 1,000 branches in next 5 years
MUMBAI – Bank of Maharashtra aims to achieve 17% credit growth in the financial year 2025-26 (Apr-Mar), Managing Director and Chief Operating Officer Nidhu Saxena said in a post-earnings press conference Tuesday. Saxena said this follows the bank's performance in FY25, when its advances grew 18-19%. "So, we have kept the guidance number which we are confident that we will be able to not only achieve, but maybe surpass," he said. "The differentiator with us is that we are a bank which is expanding very fast."
The bank also has plans to open 321 branches across the country in the next 18 months, in an effort to expand its customer base and support lending growth. Saxena said the bank's board has approved opening 1,000 branches in the next five years.
Currently, the bank has 2,641 branches in all, with the most located in semi-urban areas. Saxena said the bank aims to expand its presence especially in Madhya Pradesh, Rajasthan, Uttar Pradesh, and Bihar, apart from Maharashtra. "Beyond Maharashtra, we are focusing and doing as we are doing in Maharashtra," Saxena said.
The state-owned bank registered a net profit of INR 15.93 billion, up 23% on year, on a robust increase in interest income. The bank's interest income rose 20% on year to INR 70.54 billion for the June quarter.
The bank reported a current account savings account ratio of 50.07% as of Jun. 30. While this is higher than last year's 49.28%, it has decreased from 53.28% at the end of the March quarter. Saxena said the bank aims to maintain the current account savings account ratio above 50%. He said the bank is moving away from high-cost bulk deposits to focus on low-cost deposits.
Saxena said the bank had no major concern about its unsecured microfinance book. In terms of plans to raise capital, Saxena said the bank had board approval to raise INR 100.00 billion worth of infrastructure bonds "this year". End
Reported by Sourabh Kumar and Vidhushi Rajpurohit
Edited by Rajeev Pai
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