Bank of Maharashtra is looking to grow its business in Gujarat by 25 per cent by the end of the second quarter of the financial year 2024-25, said Asheesh Pandey, Executive Director of the bank during his visit to Gujarat on Saturday.

“We are currently doing a business of ₹12,000 crore in Gujarat. By second quarter of next financial year we expect the business to cross ₹15,000 crore. We are looking to increase business in the State by opening more branches,” said Pandey during an interaction with media persons. The official was in Ahmedabad to open the 100th branch in Gujarat. Later in the evening the bank will inaugurate its 101st branch at Vadodara. 

“Our board has discussed Gift City. For this the forex business of the bank should be good. This is part of our discussion, but we are yet to apply to the regulator for an entry (into Gift City). The bank wants to make itself stable and move forward,” the official added.

The official said that in the last three years, the bank has opened new branches in Kerala, Tamil Nadu, Jammu, Ludhiana, Rajasthan, Karnataka and other States.