Bank of Maharashtra gains on opening 2 rural branches in Madhya Pradesh

Bank of Maharashtra has reportedly opened 2 rural branches in Madhya Pradesh. One branch has opened in Umaranala of Chhindwara district and other has opened in Manikhapa of Jabalpur district. With these new branches, the total number of branches has increased to 1825. The Bank is planning to increase its branch network up to 2000 during current financial year.

The bank has reported a rise of 89.61% in its net profit at Rs 266.33 crore for the quarter, as compared to Rs 140.46 crore for the same quarter in the previous year. Total income from operation of the bank has increased by 34.14% to Rs 2974.31 crore for the quarter under review as compared to Rs 2217.30 crore for the quarter ended June 30, 2012.