Bank of Maharashtra (BoM) will focus on institutional deposit mobilisation, branch-led growth and calibrated asset expansion to maintain a healthy balance between credit and deposit growth in FY27.In an interaction with businessline, MD and CEO Nidhu Saxena observed that, given the current pace of growth, BoM is likely to cross the ₹10-lakh-crore mark in total business by March 2029.He stated that while global and domestic macroeconomic developments may pose challenges, BoM has adequate buffers, strong provision coverage and robust monitoring mechanisms in place.
BoM had a good run in FY26 in terms of deposit and credit growth (14 per cent and 22 per cent, respectively). Can you sustain this momentum in FY27, given that the economy will face headwinds from the West Asia war and the El Nino phenomenon?
Our FY26 performance is part of a consistent growth trajectory over the years. Both advances and deposits have grown steadily in double digits, driven by balanced credit growth and strong liability mobilisation.A key enabler is our scientific branch expansion under Project 321. We plan to open 321 branches in Phase-1, of which 183 are already operational and generating business. These locations are selected using granular, pin code–level analytics, ensuring profitability and quality sourcing from day one.In view of the global headwinds such as geopolitical tensions and climate-related risks, we have taken a prudent approach, including creating a ₹200 crore buffer for geopolitical uncertainties, and currently see no material impact.Supported by focused branch-led sourcing, disciplined risk management and strong deposit traction, we have guided for an 18 per cent growth in advances and 14–15 per cent growth in deposits, with continued emphasis on quality and profitability, in FY27. Our advances and deposits were up by 21.74 per cent and 14.14 per cent, respectively, in FY26Credit growth is expected to be broad-based, led primarily by RAM — retail, agriculture and MSME (micro, small and medium enterprises) — segments while maintaining a disciplined approach in corporate lending. Corporate credit growth will remain measured and opportunity-driven, with a focus on sectors such as renewables, infrastructure and data centres, where long-term visibility and government support are strong.
