India-based Bank of Maharashtra is, reportedly, planning to switch its focus from large-scale industries to micro, medium and small enterprises (MSME) and retail segments.
Bank of Maharashtra’s current exposure to the retail and MSME segments account for 11% and 16% respectively.
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Bank of Maharashtra chairman and managing director, Sushil Muhnot, said they have set a target of 15% to the retail sector and 20% to MSME sector by next fiscal (2014-15).
To expand the sectors, Bank of Maharashtra will open 34 retail and MSME loan processing centres throughout the country.
Muhnot said branches should generate business instead of just handling transactions, and they are planning to go for a hub and spoke model to expand their operations.
"We have been very strong in large corporate and agriculture loan segments till now. Henceforth, we are looking at growing our retail and MSME sectors, which are growth areas," Muhnot added.
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By GlobalDataBank of Maharashtra has 1,863 branches throughout the country and is planning to add another 65 before 31 March 2014.
