Bank Of Maharashtra

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Mid Cap | Bank - Public
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Bank of Maharashtra gets nod to set up IFSC Banking Unit in Gujarat

Date: 14-02-2025

Bank of Maharashtra has received approval from Reserve Bank of India for setting up of an IFSC Banking Unit (IBU) in GIFT City, Gandhinagar, Gujarat.

Earlier, the bank had reported 35.82% rise in net profit at Rs 1,406.45 crore for Q3FY25 as compared to Rs 1,035.51 crore for the same quarter in the previous year. Total income of the bank increased by 21.55% at Rs 7,112.43 crore for Q3FY25 as compared to Rs 5,851.34 crore for the corresponding quarter previous year.

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.