Bank of Maharashtra to cover all states in India by April

51st branch opens at Adyar near Mangalore

Speaking to media persons after inaugurating the 51st branch of the bank at Adyar near here on Saturday, Pereira said that the bank, which has a total of 1,437 branches spread over 22 states and 2 union territories, has plans to cover all states in India. “In its constant endeavour to provide greater customer convenience and techno-savvy services, the bank has introduced Core Banking Solutions (CBS) in 828 branches. Other branches will also be brought under the CBS platform soon,” he added.

Talking about the business of the bank, Pereira said that the total business of the bank had grown to Rs 91,093.62 crore, which include deposits of Rs 54,452.29 crore and advances of Rs 36,641.33 crore, by September 30. The operating profit and the net profit for the half-year ended on September 30 increased by 10.39 per cent and 60.84 per cent respectively. “The bank has a total business target of Rs 1,05,000 crore by March 2010 and 1,10,000 crore by September 2010,” he added.
While the Gross NPA of the bank stood at Rs 1,223.36 crore as on September 30, 2009 constituting 3.34 per cent of the gross advances, the Net NPA stood at Rs 581.20 crore constituting 1.61 per cent of the net advances, Pereira informed.
Highlighting the services of the bank, he said that the customers were provided with instant debit cards, which would be activated within 36 hours. The bank has 345 ATMs and 11 bio-metric ATMs, he said adding that customers can avail upto 10 free transactions in all other bank ATMs.

As a part of the Platinum Jubilee celebration, the bank will adopt 75 villages in the nation inclduing Kakkari, Shirasgi and Karadji in Karnataka for infrastructure development, he added.

Coastal Karnataka Development Authority Chairman B Nagaraj Shetty and Bank Deputy General Manager K Vairamani were present.

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