Page 23 - Banking Finance AUGUST 2015

PRESS RELEASE

Annual General Meeting of the Bank of Maharashtra

The Annual General Meeting of the Bank of Maharashtra was conducted on 29th June, 2015. The Chairman & Managing
Director, Shri Sushil Muhnot chaired the meeting . The meeting was also attended by Shri R. Athmaram and Shri R.K.
Gupta, Executive Directors of Bank of Maharashtra, Shri P.A. Sethi, Shareholders Director, Shri Sanjeev Jain, Director
and Shri Saydiwal, Workman Director.

The agenda of the meeting was transacted & approved by the Shareholders including election of Director through ballot
by e-voting. Mr Thamodharan was elected as Shareholder Director. The Chairman in his speech highlighted the glorious
tradition of the Bank and earning the trust of the stakeholders since last 80 years.

He narrated some of the achievements of the bank in Current Year -

a. Substantial jump in quarterly profit by 98% despite of the not so favourable economic condition.

b. Annual profit of the Bank has shown growth from Rs.385 crs as on 31.3.14 to Rs.450 crs as on 31.3.15.

c. The trust of the common man is reflected in CASA deposits which was to the tune of 37.09% of total deposits. It is
the second highest among nationalized Banks.

d. In banking industry, many banks have reported loss due to NPA provisioning norms, yet, Bank of Maharashtra has
reported substantial rise in quarterly profit after making all mandatory provisions. Total income of the bank has
improved by Rs.821 crs and NPA stood at 6.33% of total advances as on 31.3.15 as against 6.65% of total advances
of 31.12.2014. The NPAs were higher in Infrastructure and SME credit.

e. Business Per Employee has risen from Rs.14.39 crs as on 31.12.2014 to Rs.15.74 crs as on 31.3.15.

f. The CRAR of the bank as per Basel III norms was 11.94% as against requirement of 9%.

g. By mobilizing good number of accounts exceeding target under Prime Minister Jan Dhan Yojana Scheme, bank has
fulfilled its commitment for social cause.

h. The agriculture and priority sector target was achieved by the Bank, besides ensured to achieve 100% of Annual
Credit Plan as SLBC convener.

Review Meeting of Bank of Maharashtra

Bank of Maharashtra under the leadership of Shri
S.Muhnot, Chairman & Managing Director, held
Review Meeting for the first quarter of the year
2015-16 on July 11 & 12, 2015. The meeting was
attended by Executive Directors Shri. R. Athmaram
and Shri R.K. Gupta.

The Top Executives from Head Office and Zonal
Heads of all the 34 zones attended the meeting.

Addressing the gathering Mr. Muhnot emphasized on
increasing customer base of CASA Deposits, financing
to investment credit to Agriculture, Retail loans &
MSME sectors & also stressed on implementation of
the Govt. Schemes in right earnest.

BANKING FINANCE | AUGUST | 2015 | 23