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MAHABANK - Bank of Maha

📊 NSE: MAHABANK 🏢 Banks - Public Sector 📅 Last Updated: 12/13/2025 19:02

📢 Recent Corporate Announcements

Bank of Maharashtra Releases Q4 and FY2026 Earnings Call Recording

🟡 NEUTRAL ⭐ 3/10

EARNINGS 📅 20 Apr 2026, 10:19 PM

Bank of Maharashtra has officially released the audio recording of its earnings conference call held on April 20, 2026. The call focused on the bank's financial performance for the fourth quarter and the full financial year ending March 31, 2026. Investors can now access management's detailed commentary on asset quality, margin guidance, and growth strategies via the bank's website. This disclosure is a routine regulatory requirement under SEBI (LODR) Regulations, 2015.

Earnings conference call conducted on April 20, 2026, at 4:30 PM IST.
Discussion covered financial results for the quarter and year ended March 31, 2026.
Recording link is now live on the bank's official website under the financial results section.
The filing follows the bank's prior notification to exchanges on April 15, 2026.

💡 Investors should listen to the recording to understand management's stance on Net Interest Margins (NIM) and credit growth for FY27. No immediate action is required as this is a routine administrative filing.

Bank of Maharashtra Recommends Final Dividend of Rs 1.20 per Share for FY 2025-26

🟢 POSITIVE ⭐ 7/10

DIVIDEND 📅 20 Apr 2026, 03:41 PM

The Board of Directors of Bank of Maharashtra has recommended a final dividend of Rs 1.20 per equity share (12% of face value) for the financial year 2025-26. This final dividend is in addition to the interim dividend of Rs 1.00 per share (10%) declared in January 2026, bringing the total dividend for the year to Rs 2.20 per share. The payout is subject to shareholder approval at the upcoming Annual General Meeting. The record date for the dividend distribution will be announced by the bank in due course.

Final dividend recommended at Rs 1.20 per equity share of face value Rs 10 each
Total dividend for FY 2025-26 reaches Rs 2.20 per share including interim payout
Interim dividend of Rs 1.00 per share was already paid following the January 13, 2026 declaration
The 12% final dividend recommendation was finalized in the board meeting held on April 20, 2026

💡 Investors interested in dividend yield should monitor the announcement of the record date to ensure eligibility for the Rs 1.20 payout. The total annual dividend of Rs 2.20 reflects a stable return profile for long-term shareholders.

Bank of Maharashtra Recommends Final Dividend of Rs 1.20 per Share for FY 2025-26

🟢 POSITIVE ⭐ 7/10

DIVIDEND 📅 20 Apr 2026, 03:38 PM

The Board of Directors of Bank of Maharashtra has recommended a final dividend of Rs 1.20 per equity share (12%) for the financial year 2025-26. This final payout is in addition to the interim dividend of Rs 1.00 per share (10%) already declared and paid in January 2026. Consequently, the total dividend for the fiscal year amounts to Rs 2.20 per share on a face value of Rs 10. The final dividend is subject to shareholder approval at the upcoming Annual General Meeting.

Recommended final dividend of Rs 1.20 per equity share (12% of face value)
Total dividend for FY 2025-26 stands at Rs 2.20 per share including interim payout
Interim dividend of Rs 1.00 per share was previously paid following the January 13, 2026 declaration
The record date for the final dividend will be announced in due course

💡 Investors seeking regular income should monitor for the record date to ensure eligibility for the final dividend. The total payout of Rs 2.20 reflects a healthy yield relative to the face value and suggests stable financial performance.

Bank of Maharashtra Q4 FY26 Net Profit jumps 35% to ₹2,014 Cr; Net NPA hits 0.13%

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 20 Apr 2026, 03:18 PM

Bank of Maharashtra (MAHABANK) delivered a robust performance for FY26, with annual net profit rising 27.17% to ₹7,019 crore. The bank maintained exceptional asset quality, reporting a Net NPA of just 0.13% and a Gross NPA of 1.45%. Total business grew 17.47% YoY to ₹6.42 lakh crore, supported by strong credit expansion in the retail sector which grew 32.39%. Profitability remains high with a quarterly Return on Assets (ROA) of 1.97% and a Net Interest Margin (NIM) of 3.91%.

Net Profit for Q4 FY26 increased by 34.89% YoY to ₹2,014 crore.
Gross Advances grew by 21.74% YoY to ₹2,91,967 crore, driven by 32.39% growth in Retail advances.
Net NPA improved to 0.13% from 0.18% YoY, while Gross NPA fell to 1.45% from 1.74%.
Net Interest Income (NII) grew 18.81% YoY in Q4 to ₹3,702 crore with a NIM of 3.91%.
Cost-to-Income ratio improved to 36.51% in Q4 FY26 compared to 38.50% in the previous year.

💡 The bank demonstrates industry-leading asset quality and strong operational efficiency with a low cost-to-income ratio. Investors should maintain a positive outlook given the consistent growth in high-yield retail segments and a stable CASA base of 52.51%.

Bank of Maharashtra Q4FY26 Net Profit Jumps 35% to ₹2,014 Cr; Net NPA Drops to 0.13%

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 20 Apr 2026, 03:10 PM

Bank of Maharashtra reported a strong financial performance for FY26, with annual net profit rising 27.17% to ₹7,019 crore. For the fourth quarter, net profit surged 34.89% YoY to ₹2,014 crore, driven by an 18.81% growth in Net Interest Income. Asset quality improved remarkably, with Gross NPA falling to 1.45% and Net NPA reaching a negligible 0.13%. The bank maintained a healthy NIM of 3.91% and proposed a final dividend of ₹1.20 per share.

Net Profit for Q4FY26 rose 34.89% YoY to ₹2,014 crore; annual FY26 profit reached ₹7,019 crore.
Gross Advances grew 21.74% YoY to ₹291,967 crore, with Retail advances surging 32.39%.
Asset quality reached industry-leading levels with Net NPA at 0.13% and Provision Coverage Ratio at 98.59%.
Return on Equity (ROE) improved to 23.19% and Return on Assets (ROA) stood at 1.86% for the full year.
Proposed a final dividend of ₹1.20 per share, taking the total FY26 dividend to ₹2.20 per share.

💡 The bank's superior asset quality and robust credit growth make it a standout performer in the PSU banking sector. Investors should view the high ROE and low credit costs as strong indicators of continued value creation.

Bank of Maharashtra Appoints Sushanta Kumar Mohanty as Executive Director for 3-Year Term

🟡 NEUTRAL ⭐ 6/10

MANAGEMENT 📅 16 Apr 2026, 05:42 PM

Bank of Maharashtra has appointed Shri Sushanta Kumar Mohanty as Executive Director for a three-year term effective April 15, 2026. Mr. Mohanty, 56, joins from Bank of Baroda where he served as Chief General Manager and brings over 30 years of extensive banking experience. His background includes international exposure in New York and specialized expertise in Treasury Operations, International Banking Credit, and Forex Management. This appointment was notified by the Department of Financial Services (DFS) under the Banking Companies Act.

Shri Sushanta Kumar Mohanty appointed as Executive Director for a 3-year tenure starting April 15, 2026
Brings over 30 years of banking experience, previously serving as Chief General Manager at Bank of Baroda
Expertise includes Treasury Operations, International Banking Credit, and Retail & Corporate Banking
International experience includes a posting in New York, USA, and roles as Director at Baroda U.P. Gramin Bank and FIMMDA

💡 This is a routine senior management transition for a Public Sector Bank. Investors should monitor if his expertise in treasury and international banking leads to improved non-interest income or credit quality in those specific segments.

Bank of Maharashtra Schedules Q4 FY26 Earnings Call for April 20, 2026

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 15 Apr 2026, 09:48 PM

Bank of Maharashtra (MAHABANK) has scheduled its post-results conference call for Monday, April 20, 2026, at 4:30 PM IST. The call will discuss the bank's financial performance for the quarter and full year ended March 31, 2026. The session will be led by the Managing Director and CEO, Shri Nidhu Saxena, along with the senior management team. This is a standard regulatory filing to facilitate analyst and institutional investor interaction following the annual results.

Earnings call scheduled for April 20, 2026, at 16:30 IST to discuss Q4 and FY26 results.
MD and CEO Shri Nidhu Saxena will lead the corporate performance discussion.
The call will be moderated by Systematix Group with primary access numbers +91 22 6280 1297.
International toll-free numbers provided for investors in Singapore, Hong Kong, USA, and UK.

💡 Investors should monitor the bank's financial results on the scheduled date for updates on asset quality and credit growth. No immediate action is required based on the meeting schedule alone.

Bank of Maharashtra Notifies Shareholders on Equity Share Transfer to IEPF

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 31 Mar 2026, 06:43 PM

Bank of Maharashtra has issued a formal communication to shareholders regarding the mandatory transfer of equity shares to the Investor Education and Protection Fund (IEPF) Demat Account. This action is taken in compliance with Section 124 of the Companies Act, 2013, and the IEPF Rules of 2016. The transfer typically applies to shares where dividends have remained unclaimed or unpaid for seven consecutive years. This is a standard regulatory procedure and does not affect the bank's operational performance or financial stability.

Communication sent to eligible shareholders on March 31, 2026
Compliance with Section 10B of the Banking Companies Act and Section 124 of the Companies Act
Shares with unclaimed dividends for seven consecutive years are subject to transfer to IEPF
Disclosure made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations

💡 Long-term investors should check their dividend credit history; if dividends are unclaimed, they should contact the bank's Registrar and Transfer Agent (RTA) immediately to prevent the transfer of shares to the IEPF.

Bank of Maharashtra Cuts Overnight MCLR by 15 bps to 7.75% Effective March 31, 2026

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 30 Mar 2026, 06:47 PM

Bank of Maharashtra has announced a revision in its Marginal Cost of Funds Based Lending Rate (MCLR) effective from March 31, 2026. The bank has reduced its overnight MCLR by 15 basis points, lowering it from 7.90% to 7.75%. However, all other tenors, including the critical one-year MCLR which is a benchmark for most retail loans, remain unchanged at 8.85%. This selective reduction indicates a minor adjustment in short-term lending costs while maintaining stability in longer-term yields.

Overnight MCLR reduced by 15 basis points from 7.90% to 7.75%
One-year MCLR remains unchanged at 8.85%
Rates for one-month (8.20%), three-month (8.45%), and six-month (8.70%) tenors remain steady
New rates are effective from March 31, 2026

💡 Investors should view this as a routine operational adjustment with minimal impact on overall profitability. Monitor the bank's Net Interest Margins (NIM) in upcoming quarterly results to see if further rate adjustments occur.

Bank of Maharashtra Appoints Prasenjeet Shrikrishna Fadnavis as Shareholder Director

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 24 Mar 2026, 03:46 PM

Bank of Maharashtra has announced the election of Mr. Prasenjeet Shrikrishna Fadnavis as a Shareholder Director, effective from March 24, 2026. He was elected by a majority vote from shareholders other than the Central Government and will serve a tenure until June 30, 2028. Mr. Fadnavis is a 52-year-old technocrat with over 30 years of experience across banking, telecom, and cyber law. His appointment adds specialized expertise in technology and legal compliance to the bank's board.

Mr. Prasenjeet Shrikrishna Fadnavis appointed as Shareholder Director effective March 24, 2026
The tenure for the new director is set to continue until June 30, 2028
Appointee brings over 30 years of experience in telecom, banking, and cyber laws
Holds qualifications in Computer Science and Law, including a Diploma in Cyber Law

💡 This is a routine governance update and requires no immediate action. Investors should view the addition of a tech and legal expert to the board as a positive step for the bank's digital and regulatory oversight.

Bank of Maharashtra EGM: Shareholders Approve New Executive and Shareholder Directors

🟡 NEUTRAL ⭐ 6/10

MANAGEMENT 📅 23 Mar 2026, 07:46 PM

Bank of Maharashtra successfully conducted an Extraordinary General Meeting (EGM) on March 23, 2026, to finalize key board appointments. Shareholders approved the appointment of Shri Prabhat Kiran as Executive Director for a three-year term that commenced in November 2025. Additionally, Shri Prasenjeet Shrikrishna Fadnavis was elected as a Shareholder Director, effective March 24, 2026, with a tenure lasting until June 30, 2028. These appointments are intended to strengthen the bank's leadership and ensure compliance with SEBI governance regulations.

Shri Prabhat Kiran's appointment as Executive Director approved for a 3-year term effective from Nov 24, 2025.
Shri Prasenjeet Shrikrishna Fadnavis elected as Shareholder Director with a term ending June 30, 2028.
The EGM was attended by 55 members, including a representative from the Government of India.
Both agenda items were passed with the requisite majority through remote e-voting and e-voting during the meeting.

💡 These appointments are part of routine governance and regulatory compliance; investors should continue to monitor the bank's financial performance and asset quality trends.

Bank of Maharashtra Credit Ratings Reaffirmed at IVR AA+ and AA with Stable Outlook

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 11 Mar 2026, 07:25 PM

Infomerics Valuation and Rating Limited has reaffirmed the credit ratings for Bank of Maharashtra's debt instruments as of March 11, 2026. The bank's Basel III Tier II Bonds, totaling Rs 1,000 crore, maintained a rating of IVR AA+/ Stable. Additionally, Additional Tier I (AT I) Bonds worth Rs 2,000 crore were reaffirmed at IVR AA/ Stable. This reaffirmation indicates a consistent credit profile and stable outlook for the public sector lender.

Infomerics reaffirmed IVR AA+/ Stable rating for Rs 1,000 crore Basel III Tier II Bonds
Additional Tier I (AT I) Bonds worth Rs 2,000 crore reaffirmed at IVR AA/ Stable
Coupon rates for existing Tier II bonds are 8.00% and 7.98%
AT I bonds carry coupon rates of 8.75% and 8.74%
Ratings cover both existing and proposed bond issuances

💡 The reaffirmation of ratings suggests financial stability; existing shareholders and bondholders should maintain their positions as the credit profile remains unchanged.

Bank of Maharashtra Nominates 4 Candidates for Shareholder Director Election

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 10 Mar 2026, 02:01 PM

Bank of Maharashtra has announced four candidates for the election of one Shareholder Director at its upcoming Extraordinary General Meeting (EGM) on March 23, 2026. The nominees include professionals with diverse expertise in taxation, law, finance, auditing, and information technology. The Board of Directors has already cleared all four candidates as 'Fit and Proper' according to RBI Governance Directions. Remote e-voting for shareholders will be open from March 18 to March 22, 2026, to determine the successful candidate.

Election for 1 Shareholder Director vacancy to be held at the EGM on March 23, 2026.
4 candidates nominated: Reena Jha Tripathi, Alok Jain, Ruma Dey, and Prasenjeet Shrikrishna Fadnavis.
All candidates accorded 'Fit and Proper' status by the Board on March 9, 2026.
Remote voting period scheduled from March 18, 2026 (9:00 AM) to March 22, 2026 (5:00 PM).
Candidates bring specialized knowledge in areas including Banking, Finance, Law, and Cyber Law.

💡 Shareholders should review the professional backgrounds of the four nominees and exercise their voting rights during the remote voting window. This is a routine governance update and does not necessitate any immediate change in investment strategy.

Fitch Upgrades Bank of Maharashtra's Viability Rating to 'bb'; Affirms IDR at 'BBB-'

🟢 POSITIVE ⭐ 7/10

ROUTINE 📅 04 Mar 2026, 03:28 PM

Fitch Ratings has upgraded Bank of Maharashtra's Viability Rating to 'bb' and its Long-Term IDR (xgs) to 'BB (xgs)'. The agency also affirmed the bank's Long-Term Issuer Default Rating (IDR) at 'BBB-' with a Stable outlook. These rating actions reflect the bank's improving standalone credit profile and consistent financial performance. The affirmation of the 'bbb-' Government Support rating indicates a high probability of sovereign support if required.

Viability Rating upgraded to 'bb' reflecting improved standalone financial health
Long-Term IDR (xgs) upgraded to 'BB (xgs)' as of March 2, 2026
Long-Term IDR affirmed at 'BBB-' with a Stable outlook
Government Support rating affirmed at 'bbb-'
Short-Term IDR affirmed at 'F3' and Short-Term IDR (xgs) at 'B (xgs)'

💡 The credit rating upgrade is a positive signal of the bank's strengthening balance sheet and reduced risk profile. Investors should maintain a positive outlook as this could lead to lower borrowing costs for the bank in the future.

Bank of Maharashtra Schedules EGM for March 23, 2026, to Appoint ED and Elect Director

🟡 NEUTRAL ⭐ 6/10

MANAGEMENT 📅 23 Feb 2026, 11:07 PM

Bank of Maharashtra has called an Extraordinary General Meeting (EGM) on March 23, 2026, to seek shareholder approval for key leadership positions. The agenda includes the formal appointment of Shri Prabhat Kiran as Executive Director for a three-year term starting from November 24, 2025. Additionally, the bank will conduct an election for one Shareholder Director with a tenure lasting until June 30, 2028. Shareholders as of February 27, 2026, are eligible for the director election, while the voting cut-off for the ED appointment is March 16, 2026.

EGM scheduled for March 23, 2026, via Video Conferencing to approve the appointment of Shri Prabhat Kiran as Executive Director.
Shri Prabhat Kiran's appointment is for a period of three years effective from November 24, 2025.
Election of one Shareholder Director to be conducted with a term ending on June 30, 2028.
Specified date for eligibility to nominate or vote in the director election is February 27, 2026.
Remote e-voting period is set from March 18, 2026, to March 22, 2026.

💡 Investors should participate in the e-voting process to formalize leadership appointments and ensure shareholder representation on the board. No immediate change in investment strategy is required as this is a routine governance procedure.

View All MAHABANK Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Total Interest Income grew 18% YoY to INR 7,128 Cr in Q2 FY26. Interest on Advances increased 16.37% YoY to INR 5,451 Cr, while Interest on Investments grew 24.45% YoY to INR 1,634 Cr. Non-Interest Income saw a 7% YoY increase to INR 845 Cr.

Geographic Revenue Split

The bank is primarily domestic-focused with Domestic Advances at INR 2,53,230 Cr (99.65% of total) as of Sept '25. Overseas Advances were recently initiated, standing at INR 888 Cr (0.35% of total).

Profitability Margins

Net Profit Margin improved as Net Profit grew 23.09% YoY to INR 1,633 Cr in Q2 FY26. Return on Assets (RoA) increased to 1.82% from 1.74% YoY. Return on Equity (RoE) remained strong at 22.58% despite a slight dip from 23.00% YoY due to a larger capital base.

EBITDA Margin

Operating Profit (equivalent to EBITDA for banks) grew 16.91% YoY to INR 2,574 Cr in Q2 FY26. The Operating Profit margin is supported by a declining Cost-to-Income ratio, which improved from 38.81% to 37.10% YoY.

Capital Expenditure

Not disclosed in available documents as a traditional CapEx figure; however, the bank utilized funds raised in FY 2024-25 to improve capital adequacy, resulting in a CRAR of 18.13% as of Sept '25.

Credit Rating & Borrowing

The bank holds an AA+ (Stable) rating for Tier II Bonds from ICRA/CARE and an A1+ rating from CRISIL for short-term instruments. S&P assigned an international rating of BBB- (Stable). Cost of Funds stood at 4.32% in Sept '25, up from 4.20% YoY.

⚙️ Operational Drivers

Raw Materials

CASA Deposits (Savings and Current accounts) represent 48.13% of total deposits; Term Deposits represent 51.87%; Borrowings represent INR 24,924 Cr of total liabilities.

Import Sources

Not applicable for banking operations as funds are sourced domestically from Indian depositors and the interbank market.

Key Suppliers

Not applicable; the 'suppliers' are retail and corporate depositors across India.

Capacity Expansion

The bank expanded its 'capacity' to lend by increasing its Total Business to INR 5,63,909 Cr, a 14.20% YoY increase. The branch network and digital infrastructure (Digital Rupee, Digital Sanctions) serve as the primary delivery channels.

Raw Material Costs

Cost of Deposits rose to 4.67% in Sept '25 from 4.29% YoY (an 8.8% increase in cost) due to the high-interest-rate environment and competition for term deposits.

Manufacturing Efficiency

The Credit-to-Deposit (C/D) ratio improved to 82.03% in Sept '25 from 78.72% YoY, indicating higher efficiency in deploying mobilized deposits into interest-earning advances.

Logistics & Distribution

Distribution is driven by digital channels and physical branches; Staff Expenses (the primary distribution cost) were INR 822 Cr in Q2 FY26, a decrease from INR 900 Cr in the previous quarter.

📈 Strategic Growth

Expected Growth Rate

17.90%

Growth Strategy

The bank is focusing on the RAM (Retail, Agri, MSME) segment, which grew 19.68% in FY25. Strategy includes aggressive retail credit expansion (up 37.45% YoY), digital transformation for faster loan processing, and maintaining a high CASA ratio to keep borrowing costs competitive.

Products & Services

Housing loans (INR 43,041 Cr), Vehicle loans (INR 4,872 Cr), MSME credit (INR 46,554 Cr), Gold loans, Education loans, and Digital Rupee (CBDC).

Brand Portfolio

MAHABANK, Bank of Maharashtra, Mahabank Digital Rupee.

New Products/Services

Digital Rupee (CBDC) and Digital Sanctions for retail loans are expected to improve processing speed and customer acquisition, contributing to the 16.83% growth in global advances.

Market Expansion

The bank is expanding into overseas markets with an initial exposure of INR 888 Cr and continues to deepen its domestic footprint in the Infrastructure and Housing sectors.

Market Share & Ranking

Not explicitly ranked, but advance growth of 17.90% is noted as being higher than the banking industry average.

Strategic Alliances

The bank maintains JVs and Subsidiaries with a gross investment of INR 762 Cr as of Sept '25 to diversify service offerings.

🌍 External Factors

Industry Trends

The industry is seeing a shift toward digital-first banking and NIM compression. MAHABANK is positioning itself by maintaining a high CASA of 48.13% and a low Cost of Funds (4.32%) compared to peers.

Competitive Landscape

Competes with major PSU and private banks; maintains an edge through superior asset quality (Net NPA at 0.18%) which is among the lowest in the industry.

Competitive Moat

The bank's moat is its low-cost deposit base and high CASA ratio, which allows it to maintain a NIM of 3.85% even in a rising rate environment. This is sustainable due to its strong brand presence in Maharashtra and growing digital adoption.

Macro Economic Sensitivity

Sensitive to RBI repo rate changes; a high-interest-rate environment has increased the Cost of Deposits by 38 basis points YoY, impacting the bank's cost structure.

Consumer Behavior

Increasing preference for digital banking and retail credit; MAHABANK responded with a 37.45% YoY growth in retail credit and new digital sanctioning tools.

Geopolitical Risks

Net FPI outflows of US$ 3.9 billion in 2025-26 (April-Sept) create market volatility that can impact the bank's investment portfolio valuation (AFS/HFT categories).

⚖️ Regulatory & Governance

Industry Regulations

Complies with RBI's Basel III capital requirements (CET1 at 14.05%) and SEBI LODR regulations. No non-compliance reported for the financial year ended March 31, 2025.

Environmental Compliance

The bank has initiated ESG initiatives as part of its corporate reporting, though specific INR costs are not disclosed.

Taxation Policy Impact

Profitability was supported by a low effective tax rate due to the write-off of carried forward losses in previous periods.

Legal Contingencies

Pending court cases and labor disputes exist as per standard banking operations; however, the specific aggregate INR value of all pending litigation is not disclosed in the provided documents.