Bank of Maharashtra Reports Robust Quarterly Profit Growth

State-owned Bank of Maharashtra posted a 23% increase in net profit to Rs 1,493 crore for the March 2025 quarter, driven by core income and reduced bad loans. The bank plans to raise Rs 7,500 crore through debt and equity, aiming to decrease government ownership and expand its branch network.

Bank of Maharashtra (BoM), a state-owned entity, has announced impressive financial results for the March 2025 quarter, recording a notable 23% increase in net profit, which rose to Rs 1,493 crore. This growth is attributed to heightened core income and a reduction in non-performing loans.

The financial institution, headquartered in Pune, showcased a total income rise to Rs 7,711 crore, up from Rs 6,488 crore a year prior. Interest income also saw a significant climb, reaching Rs 6,731 crore. These earnings results accompany the bank's strategic move to raise Rs 7,500 crore via a combination of debt and equity, an initiative endorsed by its board to reduce government stake and enhance financial flexibility.

In line with its growth strategy, BoM is planning to expand its reach by adding up to 1,000 new branches over the next five years. The bank's focus on strengthening its asset base and performance indicators, including a rise in Return on Assets and Net Interest Margin, presents a robust outlook for future developments.