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Today Date : Monday, June 17, 2024

Bank Opens New State-of-the-Art Office

Bank Opens New State-of-the-Art Office

Bank of Maharashtra, one of the top public sector banks, opened a new zonal office in Coimbatore. The Chief Guest on the occasion was A.S. Rajeev, M.D. and CEO of the bank. Others presented on the occasion included Shibu Jacob, Zonal Manager- Coimbatore, Nagendra Goud – Manager, Chennai Zone and Raju – DZM, Coimbatore Zone. The bank now has a total of 46 zones across the country. The products offered by the bank include ATM cards, secured internet banking, 24/7 customer care and mobile banking services. 
The newly opened office is located at:
Bank of Maharashtra, 
SMT Towers, 1st floor, 169-A, Raju Naidu Road, Sivananda Colony, Coimbatore -641012
Addressing the media on the occasion, Rajeev pointed out that Coimbatore being an important city, the bank was opening a state-of-the-art zonal office in the city. He said with Coimbatore considered the second capital of Tamil Nadu, there is a lot of potential available in the city for MSME loans, retail loans and any type of export loans. He added that the neighboring city of Tirupur has also got huge business potential. 
He added that earlier the bank was concentrated in Maharashtra and Gujarat. Now it has opened around 650 branches for the past 4 years outside Maharashtra. 
He mentioned that in Coimbatore, the company is at present doing a business of Rs.2,000crore and is confident of reaching Rs. 5,000 crores by March 2024, with support from business houses.
Shibu Jacob while speaking to the media said that they wanted to increase the number of branches in the Coimbatore zone to 43 by 31st March 2024. He said it will be opening 11 more branches immediately before 31st March 2024. He said that the aim is to achieve the target of Rs. 5,000 crore by the 31st of March 2024. By 2025 they expect to achieve the target of Rs.10, 000 crore with 60 branches. 
He further added that the bank as a whole has 2360 branches with a business of Rs.4.25 lakh crore and it is going to open 150 more branches by 31st March 2024 and targeted business will be Rs. 5 lakh crore by 31st March 2024.
He mentioned that concerning all financial parameters the bank is leading from the front among the public sector banks in India. He stated that the bank’s growth rate was around 25 % last year and it plans to achieve the same 25% this year. He said that the growth of the Coimbatore zone is around 20% as of today and the target is to have 100% growth by March 2024. 
Shibu Jacob further added that their objective is that the bank and the customer should grow together.
Currently, the bank serves 27 million customers across the country.