Bank Of Maharashtra opens corporate finance branch at Koti

Hyderabad: The Bank Of Maharashtra (BoM) on Friday inaugurated its state of the art corporate finance branch (CFB) branch at ground floor, Vinoothna Pitte's Majesty near Bank Street, Koti, at the hands of Rajat Kumar, Special Chief Secretary, Irrigation and Command Area Development department, along with A B Vijayakumar, Executive Director. The BOM now has a total of 38 branches in Telangana.

Addressing the gathering, Rajat Kumar said, "BoM has sizeable exposure to government of Telangana for various projects. The CFB branch shall cater the needs of government guaranteed advances in future. He mentioned the State's progress in irrigation since 2016 in increasing the irrigated land as per the vision of CM KCR "Maa Telangana, Koti ekarala magani". He, along with Vijayakumar, handed over sanction of Rs 100 crore to new clients. As on date, the business of CFB branch is Rs 3,200 crore which will increase to Rs 5,000 crore by March 31,2022.

Vijayakumar said BoM intends to spread across the State by opening at least one branch per district. As of now, BoM has 38 branches in 17 districts and intends to open nine more in four months. The Hyderabad zone has Rs 12,121-crore business as on March 31 this year. Twenty-five branches in AP have been carved out into a new zone at Vijayawada that reduced business by Rs 4,000 crore. However, R Jaganmohan of Hyderabad zone assured that by March 31,2022 it will cross Rs 12,000 crore business with the active support of the State government, existing and potential new customers. N V B Srinivas, AGM, CFB, proposed a vote of thanks