Bank of Maharashtra, a leading public sector bank is planning to double its profit to Rs 600 crore this financial year which would be driven by treasury income and cost control measures. The bank is taking a conscious decision to move away from corporate lending and focusing on retail and SME loans now to improve its profit. Furthermore, the bank has started shedding its bulk deposits and will now concentrating more on the low-cost Casa deposits, which grew 11 per cent to Rs 41,723 crore in the September quarter.
Bank of Maharashtra offers several products and services in personal banking such as deposits, savings, personal loans, educational loans, demat services, credit cards, etc. The bank also offers services to agricultural and SME sectors.
