A recent press report said that the Bank of Maharashtra has planned to open branches in North-Eastern States, where it does not have a presence. The bank already has 1,536 branches across the country and the bank has now planned to set up 70 branches in Tripura, Mizoram, Nagaland, Arunachal Pradesh and Andaman.
Mr. Bhattacharya, Chairman and Managing Director of the bank said that the bank has planned to add five specialised branches to its existing two branches, which only offers assistance to different self-help groups. He said that the bank has planned to increase the number of ATMs from 417 in March 2011 to 500 by June.
He added saying that the bank has planned to focus on mid-MSME sector, which at present accounts for 16 per cent (Rs 7,600 crore) of the bank’s advances. The bank has also planned to increase this by about Rs 3,000 crore. He also said that the bank has planned to recruit 300 officers and another 300 at the clerical level this year.
Mr. Bhattacharya said that the credit off-take will grow by 20 per cent in the current fiscal, while interest rates may not harden further. The bank offers Term loan, home loan, overdrafts, Letters of Credit, Guarantees and many more such products under its credit basket.