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| (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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