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.

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.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Bank of Maharashtra has 1,863 branches throughout the country and is planning to add another 65 before 31 March 2014.