Bank of Maharashtra conducted a retail and MSME outreach program at Guwahati on December 15. The bank facilitated sanctions amounting to Rs.52 crore to the retail and MSME customers.
A press release by branch manager Bank of Maharashtra, Kohima Eugene Ohara stated that executive director, Bank of Maharashtra Vijayakumar while addressing the outreach programme said that in continuation of its strategy of branch expansion to add fillip to its business growth, Bank of Maharashtra is set to open five more Branches in North East Region (NER) this fiscal.
Bank of Maharashtra also has a plan to set up a new zonal office at Guwahati by the end of June 2022 to especially harness the growth potential in the region and for better monitoring of the branches in NER. With the proposed zonal office, Bank of Maharashtra is eyeing to magnify the existing business by three fold from existing Rs.1400 crore to Rs.4200 crore within one year in the region. He highlighted the bank’s products which are most competitive and currently the credit to deposit ratio of Bank of Maharashtra is more than 150% in comparison to the average credit to deposit ratio which is approximately 40% in the region.
Vijayakumar further added Bank of Maharashtra sees ample business opportunity in North East Region and there has been good support from existing as well as potential customers. Bank is also supported well from all the states in NER having projects with good cash flow and fundamentally sound business prospects.
Sanjay Rudra, general manager, corporate credit while addressing the event said Bank of Maharashtra has the widest tailored product base in the offering for various categories and has remained a pillar of support in strengthening the MSMEs with highest growth in terms of financing to MSMEs. Bank has brought slew of changes in its product base to fit into the market scenario and will continue to do so in future at most competitive pricing.
Dilip Kumar Raulo, zonal manager, Bank of Maharashtra Kolkata zone, Bank of Maharashtra officials from Kohima and Dimapur also attended outreach Programme.
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