Bank of Maharashtra to raise Rs.1,000 crore capital

Pune, June 30 (IANS) Bank of Maharashtra will raise Rs 1,000 crore capital for growth and focus on home loan, small and medium enterprises (SME) and priority sector over the next two years.

Addressing shareholders at the 13th Annual General Meeting on Wednesday here, S. Muhnot, Chairman and Managing Director, said that over the next two years the bank would focus on cutting down its non-performing assets (NPA), expand its portfolios in home loan, SME and priority sectors.

"Containing the NPAs was a challenge for the entire banking sector due to the slippages in steel, power and infrastructure," he was quoted as saying in a statement issued by the bank.

"We have taken necessary steps to speed-up the recovery process across various levels of loan segments."

He said the bank expected to expand its home loan segment by 20-25 percent.