Bank of Maharashtra: Business Overview & Financial Analysis
Bank of Maharashtra is a public sector bank headquartered in Pune, Maharashtra. Majority-owned by the Government of India, the bank provides a comprehensive range of retail, agricultural, micro, small and medium enterprises (MSME), and corporate banking solutions. Operating through an extensive domestic network of branches, automated teller machines (ATMs), and digital banking channels, alongside an international banking unit in GIFT City, Bank of Maharashtra serves millions of retail and institutional clients.
Key Financial Ratios & Performance Indicators of Bank of Maharashtra (Q4 FY26 & FY26)
Bank of Maharashtra tracks operational efficiency, capital adequacy, and asset yields across its core banking activities.
- Capital Adequacy Ratio (CRAR) – 18.36%
- Common Equity Tier-1 (CET1) Ratio – 14.59%
- Net Interest Margin (NIM) – 3.91%
- Gross NPA Ratio (GNPA) – 1.45%
- Net NPA Ratio (NNPA) – 0.13%
- Provision Coverage Ratio (PCR) – 98.59%
- Cost to Income Ratio – 36.51% (37.08% for full year FY26)
- Return on Assets (ROA) – 1.97% (1.86% for full year FY26)
- Return on Equity (ROE) – 26.61% (23.19% for full year FY26)
The bank maintained a Basel III Capital Adequacy Ratio of 18.36% as of 31 March 2026, well above statutory regulatory mandates. Operating profitability was supported by a full-year Net Interest Margin of 3.91%, while asset quality strengthened with a Net NPA ratio of 0.13% and a Provision Coverage Ratio of 98.59%.
Deposit Mix & CASA Profile of Bank of Maharashtra (Q4 FY26)
Bank of Maharashtra funds its balance sheet primarily through low-cost retail current and savings account (CASA) deposits.
- Total Deposits – Rs 3,50,564 crore (+14.14% YoY)
- Current Account Savings Account (CASA) Ratio – 52.51%
- CASA Inflow Growth – +12.0% YoY
- Term Deposits Share – 47.49% (+16.0% YoY growth)
- Cost of Deposits – 4.33% (4.52% for full year FY26)
- Cost of Funds – 3.95% (4.15% for full year FY26)
Total deposits expanded 14.14% year-on-year to Rs 3,50,564 crore in Q4 FY26. Low-cost CASA deposits constituted 52.51% of total customer deposits, helping reduce the quarterly cost of deposits to 4.33%.
Loan Book Composition & Credit Breakdown of Bank of Maharashtra (Q4 FY26)
Bank of Maharashtra allocates credit advances across Retail, Agriculture, MSME (RAM), and corporate verticals.
- Total Gross Advances – Rs 2,91,967 crore (+21.74% YoY)
- Total Net Advances – Rs 2,88,104 crore (+22.03% YoY)
- Retail, Agriculture & MSME (RAM) Share – 63.0% of advances
- Retail Advances – Rs 85,857 crore (+32.39% YoY)
- MSME Advances – Rs 53,547 crore (+10.71% YoY)
- Corporate & Wholesale Advances Growth – +22.0% YoY
Gross advances crossed Rs 2,91,967 crore, reflecting a 21.74% year-on-year credit expansion. The high-margin RAM portfolio accounts for 63% of total advances, driven by 32.39% growth in retail loan dispatches.
Retail & Agricultural Loan Portfolio Breakdown of Bank of Maharashtra (Q4 FY26)
Bank of Maharashtra categorises retail credit advances into home loans, vehicle financing, gold loans, and consumer credit lines.
- Home Loans Growth – +29.0% YoY
- Vehicle Loans Growth – +56.0% YoY
- Gold Loans Portfolio – Rs 24,000 crore (+53.0% YoY)
- Agriculture Advances Growth – +13.0% YoY
- Co-lending Gold Loan Dispatches – Rs 5,000 crore via NBFC partners
Retail loan expansion was anchored by home loans and vehicle loans, which grew 29% and 56% year-on-year respectively. The gold loan book expanded 53% year-on-year to Rs 24,000 crore, incorporating Rs 5,000 crore under co-lending partnerships with NBFCs.
Asset Quality & Provisioning Metrics of Bank of Maharashtra (Q4 FY26)
Bank of Maharashtra tracks credit risk, non-performing assets, and recovery buffers across its credit portfolio.
- Gross NPAs Ratio – 1.45% (down 29 bps YoY)
- Net NPAs Ratio – 0.13% (down 5 bps YoY)
- Provision Coverage Ratio (PCR) – 98.59%
- Written-off Accounts Recovery – Rs 1,423 crore
- Fresh Quarterly Slippage Amount – Rs 839 crore
- Overall Portfolio Stress Ratio – 2.93%
Gross NPA ratio declined to 1.45% in Q4 FY26 from 1.74% in Q4 FY25, while Net NPAs dropped to 0.13%. Recovery from written-off accounts reached Rs 1,423 crore for the full year, supporting overall portfolio stress reduction to 2.93%.
Business Scale & Operational Reach of Bank of Maharashtra (FY26)
Bank of Maharashtra measures employee productivity and business expansion across domestic and international touchpoints.
- Total Business Volume – Rs 6,42,531 crore (+17.47% YoY)
- Total Business per Employee – Rs 41.20 crore
- Offshore Unit Assets (GIFT City) – $650 million (~Rs 5,400 crore)
- Overseas Advances Book – Rs 6,142 crore
Total business volume crossed Rs 6.42 lakh crore in FY26, driving total business per employee up to Rs 41.20 crore. International operations in GIFT City reached $650 million in assets, contributing to overseas advances of Rs 6,142 crore.
Latest Quarterly & Annual Financial Performance of Bank of Maharashtra (Q4 FY26 & FY26)
Bank of Maharashtra delivered operating income growth and net profit expansion during the fourth quarter and full financial year FY26.
- Q4 Net Revenue (NII + Non-Interest Income) – Rs 4,640 crore (+13.3% YoY)
- Q4 Net Interest Income (NII) – Rs 3,702 crore (+18.81% YoY)
- Q4 Operating Profit – Rs 2,946 crore (+16.92% YoY)
- Q4 Net Profit After Tax (PAT) – Rs 2,014 crore (+34.89% YoY)
- Full Year FY26 Net Profit After Tax (PAT) – Rs 7,019.32 crore (+27.16% YoY)
- Full Year FY26 Net Interest Income (NII) – Rs 13,664 crore (+17.13% YoY)
- Total FY26 Dividend Declared – Rs 2.20 per equity share (22%)
Quarterly Net Profit After Tax surged 34.89% year-on-year to Rs 2,014 crore in Q4 FY26, driven by Net Interest Income growth and lower provisions. Full-year FY26 net profit reached a record Rs 7,019.32 crore, and the Board recommended a total dividend payout of Rs 2.20 per equity share.
Capital Raising & Shareholding Structure of Bank of Maharashtra (FY26–FY27)
Bank of Maharashtra maintains capital compliance alongside board-approved fundraising programs.
- Government of India Shareholding Stake – 73.60% (MPS compliant)
- Foreign Institutional Investors (FII) Stake – 5.80% (up from 0.39% in 2023)
- Domestic Institutional Investors (DII) Stake – 6.86% (up from 0.24% in 2023)
- Approved Board Capital Raise (Equity) – Up to Rs 7,500 crore via QIP / FPO / Rights
- Approved Long-Term Infrastructure Bonds Raise – Up to Rs 10,000 crore
- Approved Foreign Currency Bond Issuance – Up to $500 million for FY27
Government of India shareholding reduced to 73.60% following an Offer for Sale (OFS), bringing the bank into Minimum Public Shareholding (MPS) compliance. The Board approved equity capital raising of up to Rs 7,500 crore alongside Rs 10,000 crore in long-term infrastructure bonds to fund future credit expansion.
Management Commentary & Strategic Outlook of Bank of Maharashtra (FY26–FY27)
Management guidance outlines operational goals focused on deposit mobilization, credit expansion, and asset quality defense.
- Management designates FY27 as the "Year of Deposits," targeting 14%–15% annual deposit growth while defending CASA above 50%.
- Credit growth guidance for FY27 is projected at 18%, supported by RAM segment expansion and corporate sanctions pipeline.
- RAM-to-corporate portfolio mix will be maintained near the target ratio of 60:40 (±2%).
- Net Interest Margin (NIM) is guided to remain near 3.75%, while Return on Assets (ROA) is targeted at 1.80%+.
- Asset quality targets aim to keep Gross NPA below 2.00% and Net NPA below 0.25%, with credit costs contained near 1.00%.
Sources & References
- Bank of Maharashtra Q4 & Full Year FY26 Audited Standalone Financial Results & Exchange Filings (April 2026)
- Bank of Maharashtra Q4 FY26 Earnings Call Transcript (April 20, 2026)
- Arihant Capital Result Note on Bank of Maharashtra (April 20, 2026)
- Ticker Finology Bank of Maharashtra Page
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Disclaimer
The information presented above on Bank of Maharashtra has been compiled from the company's Annual Reports, Investor Presentations, Earnings Call (Concall) Transcripts, official regulatory filings and the financial data available on Finology Ticker. Certain figures, classifications or comparisons may vary due to differences in accounting policies, reporting methodologies or subsequent restatements by the company. This content is intended solely for informational purposes and should not be considered as investment advice. Investors are advised to refer to the latest company filings and the updated financial data, ratios and disclosures available on this Finology Ticker Bank of Maharashtra page before making any investment decision. Investment in securities market are subject to market risks. Read all the related documents carefully before investing.