Bank of Maharashtra - Arguably The Best Within The PSU Banking System: Systematix

Systematix Research Report

We recently concluded a domestic NDR with the senior management team of Bank of Maharashtra. Management remained enthused about the growth prospects for the bank and guided towards maintaining its current trajectory of superior operating performance.

Assessment of the PSU banking sector reveals that Bank of Maharashtra ranks first amongst the peer banks in 23 out of 26 parameters. Bank of Maharashtra share’s outperformance over BANKNIFTY (by 105%) and PSU bank index (by 41%), during trailing twelve months, reflects its improved operational performance.

In our view, continuity of policy at a macro level coupled with the bank’s superior liability franchise and clean balance sheet sets up the stage for ~ 40% earnings growth and return on asset of ~1.5% plus over FY25.

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