Monday, 7 May 2018

Bank of Maharashtra posts operating profit growth

(L-R): R. K. Gupta, ED, R. P. Marathe, MD & CEO and 
A. C. Rout, ED, Bank of Maharashtra 

6/5/2018

PUNE: Board of Directors of Bank of Maharashtra announced the financial results for quarter and year ended March 31 recently.

Speaking on the occasion, R. P. Marathe MD & CEO of the Bank stated, “The bank is in the process of consolidating its financial position recording an all-round improvement in asset quality, capital adequacy and profitability. In the quarter ended March 2018, the Bank has reported 28.34 per cent growth in operating profits as compared to the same period previous year. Focused approach in increasing income and reducing expenditure has resulted in 547 basis points improvement in cost to income ratio on year on year basis in the March 2018 quarter.”

Elaborating on future plans of the Bank, Marathe said, “We are taking steps in the direction of realigning our business for more profitable and efficient use of capital. A well-diversified loan portfolio with priority to retail, agri and MSME sectors is our focus area. Reform initiatives are being implemented to bring subtle improvements in our customer service and offerings to all stake holders.

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