The Hindu Business Line : Bank of Maharashtra plans expansion

Mangalore, July 13 Bank of Maharashtra is planning to expand its footprints outside Maharashtra, while not losing focus on the potential available within the State.

Mr M.D. Mallya, Chairman and Managing Director, told Business Line that the bank is proposing to open 60 branches outside Maharashtra during the current fiscal.

The bank has opened 60 branches outside Maharashtra in the last two years.

“We are seeking licences for about 85 branches during the year. Of them, 60 branches are out of Maharashtra.”

The bank has around 900 branches in Maharashtra and 450 in other parts of the country.

Stating that Maharashtra offers tremendous potential, he said that these branches are located in strategic locations in many major centres such as Pune, Mumbai, Nashik, Nagpur and Aurangabad.

At the same time, the bank is quite strong in all neighbouring States too.

“Our policy is not to expand where we don’t have a footprint. Footprint will help in establishing a proper linkage.”

Asked if the bank is planning a recruitment drive to meet the requirements of manpower for the new branches, he said that the surplus staff available after the implementation of CBS in the bank will be redeployed for these branches.

More Stories on : Public Sector Banks | Karnataka

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