Bank of Maharashtra (MAHABANK)

PSB Stocks to Trade Volatile Today on Equity Dilution and Five-Day Banking Rule - 23 Jul, 2024

Public sector bank stocks are expected to trade volatile today as financial market participants watch for announcements related to further equity dilution in PSBs to meet the 25% public shareholding norms prescribed by SEBI. Additionally, bankers have proposed tax relief on deposits and home loans, as well as the establishment of a dedicated refinancing entity for NBFCs.

Bank of Maharashtra to Raise Rs. 10,000 Crore via Long Term Bonds - 18 Jul, 2024

The Board of Bank of Maharashtra has approved the raising of long-term bonds (infra bonds) up to Rs. 10,000 crore in multiple tranches through public issue or private placement during FY 24-25.

Bank of Maharashtra Stock Outlook Bullish; Offers Special Deposit Scheme - 16 Jul, 2024

Bank of Maharashtra's stock has a bullish short-term outlook, with potential to rise to ₹75 in the next two-three weeks. The bank is also offering attractive interest rates through its special deposit scheme.

Bank of Maharashtra Plans Equity Raise; Reports Strong Q1 Results - 15 Jul, 2024

Bank of Maharashtra reports strong Q1FY25 results with a 46.64% YoY increase in net profit, improved asset quality, and plans to raise Rs 5,000 crore equity this year.

RBI Raises Concerns Over Bank of Maharashtra Executive Director - 13 Jul, 2024

The Reserve Bank of India has raised concerns over the conduct of Asheesh Pandey, an executive director at Bank of Maharashtra, and has asked the finance ministry to consider them while evaluating his candidature for the managing director position.

Bank of Maharashtra Reports Strong Growth in Deposits and Advances - 05 Jul, 2024

Bank of Maharashtra reported a strong growth in its loan book and deposits for the first quarter of FY2024-25. The bank's gross advances increased by 18% to Rs 2.09 trillion, while deposits grew by 9.44% YoY to Rs 2.67 trillion.

Bank of Maharashtra Reports Strong Q1 Results - 04 Jul, 2024

Bank of Maharashtra reported strong Q1 results with a 19% YoY growth in credit and 9.44% YoY growth in total deposits. The bank's gross advances climbed 19.01% to Rs 2,09,065 crore as of June 30, 2024, while the Credit Deposit ratio increased to 78.18%. However, the bank was also directed to pay Rs 27 crore with 9% interest for embezzlement of PHFI's FDs.

UCO Bank Denies Involvement in Merger with Bank of Maharashtra - 01 Jul, 2024

UCO Bank has denied any knowledge or involvement in a merger involving Bank of Maharashtra, Central Bank, and Punjab & Sind Bank following a news item on July 1st, 2024.

Bank of Maharashtra to Raise up to INR 1,000 Crore through Tier 2 Bonds - 28 Jun, 2024

State-run Bank of Maharashtra plans to raise up to INR 1,000 crore ($119.88 million) through Basel III compliant tier 2 bonds maturing in 10 years, with a call option at the end of five years.

Bank of Maharashtra Plans to Raise Rs 5,000 Crore Through QIP - 27 Jun, 2024

Bank of Maharashtra plans to raise Rs 5,000 crore through a Qualified Institutional Placement (QIP) after the government's stake decreased from 90.97% to 86.46%. The bank's shares have surged by 44% over six months and by 140% over the past year. Meanwhile, its non-performing assets have decreased, and net interest earned has climbed by 21.6 percent YoY.

Bank of Maharashtra Plans Fundraising Through QIP Share Issues - 26 Jun, 2024

Bank of Maharashtra plans to raise ₹5,000 crore through QIP share issues to comply with the Minimum Public Shareholding norms. Care Ratings has assigned CARE AA+ rating to its Rs 1,000 crore Tier II Bonds. The bank will consider the size and timing as needed.

Bank of Maharashtra to Reduce Govt Stake through QIPs - 25 Jun, 2024

Bank of Maharashtra is one of the five state-owned banks planning to reduce the central government's stake in their corporations to 75% through qualified institutional placements (QIPs) in H2 FY25.