Bhubaneswar, Aug 11: Bank of Maharashtra a premier public sector bank in the country is making strategic meets with various key departments and stakeholders of Odisha state, to leverage its services through its wide network of branches in the state.
Executive Director A B Vijayakumar, Bank of Maharashtra led the strategic meets with top government officials of the state spearheading various key departments. Alok Kumar Mishra, Zonal Manager of Bank of Maharashtra, Bhubaneswar Zone along with bank’s team were also part of the meet.
Vijayakumar shared the performance of the bank in the recently declared Q1- results, “Bank of Maharashtra has crossed the milestone Rs. 4.20 Trillion business figures in Q1 FY-24, which indeed is truly noteworthy in bank’s journey.
This historic milestone has been supported thoroughly by bank’s expansion of footprints across the country and transformation, driven through digitization measures. The bank has been continuously emerging as the top performing bank in terms of business growth in FY-21, FY-22 and FY-23 among the PSBs and the bank has maintained the momentum in Q1-FY -24 as well with stellar growth of 25% in total business.
In terms of asset quality, bank has the lowest GNPA and NNPA at 2.28% & 0.24% respectively, with the CD ratio at 72%. Introduction of various technology driven asset-monitoring tools has helped bank in scrupulous monitoring of assets.
Bank’s branch network has crossed 2263 and the CASA base is finest among the PSBs indicating bank’s premium customer service.
Vijayakumar, Executive Director, BoM, on the opportunities in Odisha state stated, “Odisha being one of the major contributor of the Indian GDP remains in the forefront in our business expansion plan and we shall constantly leverage our business opportunities here while catering best services to the people of the state.
Bank of Maharashtra has a total presence of 48 branches in Odisha state with a business of more than Rs 2000crore and bank is planning to open around four branches by September 2023 and 16 branches more in financial year 2023-24 to strengthen the branch network across the state. We are thankful to the policymakers of the state who are ready to proactively engage with us and giving us the opportunity for serving the people of the state. Bank on its endeavour is adopting various digitization measures to give service to government. We have tailored our services for our institutional customers including central and state govt departments across country, driven on the back of technology and dedicated cell to cater to their needs.”