Public sector undertaking, Bank of Maharashtra (BOM) is planning to open 75 new branches in the platinum jubilee year. It intends to cross 1,500 branches by September, 16, 2010.
"In Gujarat the bank has already opened three new branches in Sanand, Surendranagar and will be opening another 11 branches in the current fiscal. Hence, branch strength of the bank will reach 54 by the end of current fiscal," said, executive director, MG Sanghvi.
By next quarter, bank will be opening branches in the city in Paldi, Shahibaug and Retail asset branch at CG Road. Branch expansions will also be carried out in cities such as Surat, Vadodara, Bharuch, Vapi, Bhuj, Rajkot among others.
Gujarat region of the bank did a total business of Rs3,156 crore, deposits of Rs1,544 crore and advances of Rs1,612 crore as on June 30, 2010.
The Ahmedabad ratio, which was having a total business of Rs1,615 crore as on March 31, 2008, has also increased to Rs 3,057 crore as on March 31, 2010, thereby, witnessing growth of 94% in three years.
S Bharatkumar, deputy general manager said, "We have also grown in important parameters as far as business per employee is concerned. For the year ended March 2008, business per employee was Rs3.94 crore, which has increased to Rs8.05 crore for the year ended March 2010."
Under the initiative of Gramin Innati Prakalp Yojana, the bank has adopted four villages for socio economic and infrastructure development of the villages.
The bank has also achieved 100% core banking solution and Rs1 lakh crore business mix in March 2010.
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