Pune: Bank of Maharashtra is targeting infrastructure projects, like ports and expressways, for further credit expansion in the current fiscal. The traditional areas of retail credit expansion, which include housing and consumer loans, will also be beefed up. Bank of Maharashtra chairman S C Basu says the bank is in talks with ports, both government and private, for participation. A number of proposals are in hand; the total income from this will not be less than Rs 500 crore. The bank will also look at technological upgradation, and has earmarked about Rs 75 crore to Rs 100 crore for this purpose. In the second phase (2003-04), the bank plans to set up a data warehousing and data-mining centre.
For the year ended 31 March 2002, the total business of the bank crossed Rs 29,000 crore from the previous Rs 24,000 crore. The net profit stood at Rs 145.41 crore, which is 221.77 per cent higher than the previous years Rs 45.19 crore. The operating profit stood at Rs 415.04 crore (Rs 239.38 crore). The total income was Rs 2,305.58 crore (Rs 1,928.27 crore). Basu says Rs 29 crore has been transferred to the Indian government as dividend.
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