Guwahati, Bank of Maharashtra has conducted a Retail and MSME outreach program in Guwahati on 16th December 2021. A.B. Vijayakumar, Executive Director, Bank of Maharashtra participated in the event. Sanjay Rudra, General Manager; Corporate Credit and Dilip Kumar Raulo, Zonal Manager, Bank of Maharashtra Kolkata Zone were also present in the program. Bank facilitated sanctions amounting to Rs.52 crore to the Retail and MSME customers.
While addressing the outreach program Vijayakumar said, in continuation of our strategy of Branch expansion while adding fillip to our business growth, Bank is set to open five more Branches in North East Region (NER) in this fiscal. Bank has also planned to set up a new Zonal Office at Guwahati by the end of June 2022 to especially harness the growth potential in the region and for better monitoring of the branches in NER. With a proposed Zonal Office, Bank is eyeing to magnify the existing business by three fold from existing Rs.1400 crore to Rs.4200 crore within one year in the region. He highlighted Bank’s products which are most competitive and currently the Credit to Deposit Ratio of Bank of Maharashtra is more than 150% in comparison to the average Credit to Deposit Ratio which is approximately 40% in the region.
He further added Bank of Maharashtra sees ample business opportunity in the North East Region and there has been good support from existing as well as potential customers. Bank is also supported well from all the states in NER having projects with good cash flow and fundamentally sound business prospects.
Sanjay Rudra, General Manager, Corporate Credit while addressing the event said Bank of Maharashtra has the widest tailored product base in the offering for various categories and has remained a pillar of support in strengthening the MSMEs with highest growth in terms of financing to MSMEs. Bank has brought slew of changes in its product base to fit into the market scenario and will continue to do so in future at most competitive pricing.