Bank of Maharashtra to expand in north

The Bank of Maharashtra has chalked out major expansion plans for Punjab and Haryana. The bank will add 50 branches across the country and more than 15 branches in the region in the current financial year.

The bank would also enter into liaison with several mutual fund companies for distribution of their products and with leading brokers to provide online trading facility to its customers.

Executive Director Rajiv Madhok informed this while talking to Business Standard. "We are making special efforts to increase our presence in the region. We would not only open more branches but also bring most of them under CBS."

The bank, which has tied up with LIC and United India Insurance Company for the distribution of insurance products, is planning liaison with several mutual fund companies this year.Talking about the key focus areas, he said, " retail and lending to small and medium enterprises has been the target segment."

In Punjab, corporate lending also has given us good results.