BANK OF MAHARASHTRA

Bank of Maharashtra has been notified of a proposed one-day strike on September 11, 2026, initiated by seven trade unions (AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF, INBOC) over their demands. The bank is implementing measures to ensure smooth operations but acknowledges that functioning may be affected if the strike proceeds. This information is disclosed as per SEBI regulations.

Bank of Maharashtra has announced the establishment of its USD 500 million Euro Medium Term Note Programme. This initiative allows the bank to raise funds through the issuance of medium-term notes. The offering circular has been submitted to NSE IFSC Limited and India International Exchange (IFSC) Limited, and is available on their respective websites. The bank has also made this intimation available on its own corporate announcements webpage, adhering to SEBI (LODR) Regulations, 2015.

Bank of Maharashtra has announced the record date for the redemption payment of its BASEL III Tier II bonds (ISIN: INE457A08035). The record date has been fixed as September 12, 2026, with the due date for redemption payment set for September 27, 2026. The total issue amount for these bonds was Rs. 500.00 crore, carrying a coupon rate of 9.20%. This intimation is made in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and a copy has been provided to the Debenture Trustee, Axis Trustee Services Limited.

Bank of Maharashtra has announced a revision in its Marginal Cost of Funds Based Lending Rate (MCLR). The bank has adjusted rates across various tenors, with some rates decreasing and others remaining stable. For instance, the Overnight MCLR has been reduced from 7.30% to 7.10%, and the One Month MCLR from 8.30% to 8.15%. The Three Months MCLR has seen a slight increase from 8.55% to 8.60%, while the Six Months MCLR decreased from 8.90% to 8.85%. The One Year MCLR remains unchanged at 9.00%. These revised rates are effective from August 31, 2026, and are applicable on a per annum basis. This move is in line with regulatory requirements and market conditions.

Bank of Maharashtra has announced the appointment of Shri Naresh Kumar Vashisht as a Part-time Non-official Director on its Board. This appointment, made by the Central Government via a notification from the Department of Financial Services, is effective from August 12, 2026, for a tenure of three years or until further orders. Shri Vashisht brings extensive professional experience in the construction sector, including project execution, business operations, and workforce management. He holds M.Com and MBA qualifications and is not related to any existing directors. His appointment complies with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Bank of Maharashtra has announced a revision in its Marginal Cost of Funds Based Lending Rate (MCLR). The new rates are effective from July 25, 2026. While rates for overnight, one-month, and three-month tenors remain unchanged, the six-month MCLR has been increased to 8.90% from 8.80%, and the one-year MCLR has been revised to 9.00% from 8.95%. These changes are applicable on an annual basis and are in compliance with SEBI regulations.

Bank of Maharashtra's Chief Compliance Officer (CCO), Smt. Uma Vedula, has resigned for personal reasons, effective July 23, 2026. The bank is in the process of appointing a new CCO from its existing pool of Chief General Managers, adhering to RBI guidelines that require the CCO to be at a senior level, preferably not below two levels from the CEO. The resignation and the bank's subsequent actions are in compliance with SEBI regulations.

Bank of Maharashtra announced its financial results for the quarter ended June 30, 2026. The bank reported a significant 26.84% year-on-year increase in Net Profit, reaching ₹2,020 crore. Total Global Business grew by 19.10% to ₹6,50,457 crore, with Deposits up 12.93% and Gross Advances surging by 26.90%. Asset quality showed improvement with Gross NPA declining to 1.45% and Net NPA to 0.13%. Operating profit also saw a healthy increase of 21.29% to ₹3,117 crore. The bank's Capital Adequacy Ratio (CRAR) stood at 18.64%. These results reflect strong operational performance and improved profitability.

Bank of Maharashtra announced its unaudited financial results for the quarter ended June 30, 2026. The Board of Directors approved both standalone and consolidated results. The filing also includes a limited review report with an unmodified opinion from the auditors, a statement on the utilization of issue proceeds, and a security cover certificate as of the quarter-end. The bank's website will host the detailed financial information.

Bank of Maharashtra reported solid first-quarter results with consolidated PAT of ₹2,023.32 Cr, up 34.5% YoY from ₹1,504.37 Cr despite a modest 1.05% sequential decline from Q4's ₹2,044.88 Cr. Revenue (interest income) rose 13.9% YoY to ₹8,034.65 Cr but grew just 3.6% from the prior quarter, reflecting a normalizing post-quarter seasonality pattern. Net Profit Margin compressed 132 basis points sequentially to 22.32% but expanded a healthy 324 bps year-on-year from 19.08%, indicating structural profitability gains despite higher provisions. The sharp YoY PAT outperformance versus revenue suggests operating leverage and a lower effective tax rate. A one-off provision reversal of ₹250 Cr (₹2.50 Cr benefit) for COVID-19 contingencies provided a tailwind. The bank's retail segment (44% of revenue) and corporate banking (34%) remain the growth engines. Against management's FY-2027 guidance of 16–17% business growth and 1.80% ROA, the quarter's 14% revenue growth and robust 34% profit expansion suggest the bank is on track to deliver the promised 'profitable, high-quality growth,' though Q1's sequential margin pressure warrants monitoring into Q2.