Bank of Maharashtra was registered on 16th September 1935 at Pune with an authorized capital of 1 million by a group of visionaries with the objective to serve the common man who was till then neglected by the banking system.
- To ensure quick and efficient response to customer expectations.
- To innovate products and services to cater to diverse sections of society.
- To adopt latest technology on a continuous basis.
- To build proactive, professional and involved workforce.
- To enhance the shareholders’ wealth through best practices and corporate governance.
- To enter international arena through branch network.
To be a vibrant, forward looking, techno-savvy, customer centric bank serving diverse sections of the society, enhancing shareholders’ and employees’ value while moving towards global presence.
The Bank continued to have the support and patronage of the common man. Right from its inception, the focus of the Bank has been to assist small business enterprises, traders, self-employed and others commonly known as the Priority Sector.
- 1936 - Commenced business on February 8.
- 1945 - Deposits crossed Rs. 1.00 crore mark.
- 1946 - Maharashtra Executor and Trustee Company (METCO) established.
- 1958 - Listed on Bombay Stock Exchange.
- 1969 - The Bank was nationalized with 153 branches.
- 1976 - Set up first Regional Rural Bank (RRB) – “Marathwada Gramin Bank” with headquarters at Nanded.; The Bank was appointed as Convener to the State Level Bankers’ Committee (SLBC)
- 1979 - Bank’s business crossed Rs.1,000 crore.
- 1980 - 500th branch of the Bank at Nariman Point, Mumbai inaugurated by Smt. Indira Gandhi, the then Prime Minister of India.
- 1981 - Set up the second RRB – “Aurangabad – Jalna Gramin Bank”.
- 1984 - Dr. Manmohan Singh, the then Governor, Reserve Bank of India, launched the Bank’s Golden Jubilee Celebrations.
- 1986 - Set up the third RRB – “Thane Gramin Bank”
- 1987 - 1000th branch of the Bank opened at Indira Vasahat, Pune at the hands of Shri Shankar Dayal Sharma, the then Governor of Maharashtra
- 2004 - Bank came up with Initial Public Offering (IPO)
- 2006 - Launched ATM-cum-International Debit Card; Commenced Bancassurance business; Commenced distribution of Mutual Fund products.; Surpassed business landmark of Rs.50,000 crore.; 1st CBS branch rolled out on 13th November at Karve Nagar, Pune.
- 2010 - Bank entered Platinum Jubilee Year. Hon’ble President of India, Smt Pratibha Devi Singh Patil inaugurated the Platinum Jubilee Year celebrations in Pune.; Branch network reached 1453 with 345 ATMs across the country. Total Business crossed Rs.One lakh crore. Achieved 100% CBS. New service delivery channels, namely, 3 Retail Credit Hubs and 5 Asset Recovery Branches were opened.
- 2011 - On 77th Foundation day, Hon’ble Finance Minister, Shri Pranab Mukherjee dedicated 5 specialised branches to SHGs and opened 5 Mid-Corporate branches on the occasion.
- 2012 : Total Business of the Bank crossed business level of Rs.1,50,000 crore, 1638 branches, 505 ATMs, Total Business Rs.1,51,320 crore. Bank hosted Bancon 2012 in Pune on 24th-25th November 2012. Hon’ble Union Finance Minster Shri P. Chidambaram inaugurated the conference.
- 2013 - Launch of Rupay card launch by Sonia Gandhi in Delhi 50 Branches opened on 15th August 2013 Total Business Crossed Rs. 2.00 Lakh Crore
- 2014 : 162 new branches; largest number to be opened in a single year, opened taking the branch network to 1890 1129 ATMs installed taking the total number to 1827
- 2015: 26 new branches; Branch network reached 1889; Launched “Mahamobile”-Mobile Banking Application; ISO 27001:2013 certification for its Data Centre, DR Centre, PMO & HO-IT.
- 2016: Bank crossed milestone figure of Rs 2.50 Lakh Crore; Implemented “MAHASECURE” – add on application for Internet Banking; because of which no phishing attacks have been reported “Best Financial Inclusion Initiative” award by IBA - Banking Technology