Srinagar, Sept 8: In a significant development for the banking sector in the J&K, the Bank of Maharashtra has announced its plans to open several new branches across various locations in the state.
The new branches, to begin with, are slated to be established in several locations in the Jammu region, bank officials informed Ziraat Times. These locations are:
1. Janipur, Jammu
2. Residency Road / Jewel Chowk, Jammu
3. Bakshi Nagar / Greater Kailash, Jammu
4. Bathindi / Narwal / Ranibagh, Jammu
5. Gandhi Nagar / Satwari, Jammu
These new branches aim to enhance the bank’s reach and service availability in these strategically important areas, supporting both local residents and the business community, senior bank officials said.
Bank of Maharashtra’s financial outlook for FY24
As per the latest reports, for the fiscal year 2024, the Bank of Maharashtra reported a total business growth of 15.94%, reaching a total of ₹474,411 crore. This growth encompasses both total deposits, which increased by 15.66% to ₹270,747 crore, and gross advances, which rose by 16.30% to ₹203,664 crore.
The bank already has a presence in J&K, albeit a limited one.
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