Bank of Maharashtra gets 'BBB/A-2' ratings from S&P Global

Bank of Maharashtra (BOM) announced today that S&P Global Ratings has assigned it 'BBB' long-term and 'A-2' short-term issuer credit ratings as of September 24, 2025. The outlook on the long-term rating is stable, reflecting S&P's view that the bank will maintain financial strength over the next two years.

S&P Global Ratings highlighted a very high likelihood of government support for BOM if needed, alongside the bank's robust capitalization, solid funding, and healthy liquidity as key credit strengths. BOM's risk-adjusted capital (RAC) ratio is anticipated to strengthen to about 10.5%-11% over the next two years, from 10% as of March 31, 2025, despite projected loan growth of 14%-15% annually.

The ratings also consider BOM's strong and stable funding, with current and savings account (CASA) deposits forming approximately 50.0% of total customer deposits as of June 2025. The bank's return on assets (ROA) is expected to be around 1.3% starting fiscal 2027.