SLOW AND STEADY

Bank of Maharashtra is taking slow but focussed steps towards enhancing its nationwide presence

- ASHISH RUKHAIYAR

Around five years ago, Pune-headquartered Bank of Maharashtra was grap-pling with a huge bad debt burden—with net non-performing assets of 11.76 per cent—and capital concerns, and the Reserve Bank of India had put it under the prompt corrective action (PCA) framework.

But a look at the bank now makes it difficult to believe that it was under the regulatory lens just a few years ago. In fact, it has emerged as the Best Mid-sized Indian Bank in the BT-KPMG Best Banks and Fintechs Survey 202122. Mid-sized banks are those with a balance sheet size of ₹1-3 lakh crore, per the study.