Thursday, Mar 28 2024 | Time 14:53 Hrs(IST)
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Business Economy


Bank of Maharashtra opens its new corporate Finance Branch in Hyderabad

Hyderabad, Dec 3 (UNI) Bank of Maharashtra (BOM) ,one of the leading public sector banks, opened a new Corporate Finance Branch (CFB) at Sultan bazaar area in the city on Friday.
The new CFB branch, exclusively for Government accounts and corporate accounts, was inaugurated by Telangana state Special Chief Secretary for Irrigation and Command Area Development Rajat Kumar in the presence of A.B. Vijayakumar, Executive Director, Bank of Maharashtra,HO Pune.
With this new branch, BOM now has a total of 38 branches in the state of Telangana State.
Speaking on the occasion, Rajat expressed that “Bank of Maharashtra has sizeable exposure to Government of Telangana for various projects and the New CFB branch shall cater the needs of Government guaranteed advances in the future as well.
He elaborately mentioned about the Telangana states progress in irrigation activities since 2016 in increasing the irrigated land as per the vision statement of Chief Minister K.Chandrashekhar Rao ``MAA TELANGANA, KOTI EKARALA MAGANI”.
On this occasion, Vijayakumar handed over a sanction of ₹100 Crores to a new client.
As on date, the Business level of the CFB branch is ₹ 3200 Crores which will increase to ₹5000 Crores by March end, 2022.
He said, BoM intends to spread across Telangana state by opening at least one branch per district.
As of now, BoM has 38 branches in 17 districts and intends to open 9 more branches in the next 4 months, he informed.
Hyderabad Zone did ₹12,121 Crores business in previous year but 25 branches in A.P state have been carved out into a new zone at Vijayawada that reduced business by 4000 Crore, he added.
Hyderabad Zonal Manager R Jaganmohan assured that this year, the Hyderabad Zone will cross the 12000 Crore business level with the active support of Telangana state government.
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