Bank of Maharashtra Leads Public Sector Banks in Employee Profitability, But Staff Seek Tax Relief

Bank of Maharashtra (BoM) has emerged as the top performer in per employee profitability among Public Sector Banks (PSBs)  for the financial year ending March 2025. Despite this strong performance, a key employee concern has surfaced: the bank’s management has not agreed to bear the tax burden on employee perquisites. This has prompted the All India Bank of Maharashtra Employees Federation (AIBOMEF) to appeal for fair support.

BoM Tops Employee Profitability Rankings
Latest data shared by  Devidas Tuljapurkar  on X (Formerly Twitter) highlights BoM’s standout performance. In FY 24-25, the bank recorded the highest per employee profitability—₹37.83 lakh in one ranking and ₹37.49 lakh in another—surpassing major banks like State Bank of India (SBI), Bank of Baroda (BoB), and Indian Bank. The figures also show a steady increase from the previous year, reflecting BoM’s consistent efficiency.


Image: Data showing BoM leading in per employee profitability across FY24 and FY25.
Source: Devidas Tuljapurkar

Employee Discontent Over Tax on Perquisites
Despite BoM's high productivity, the AIBOMEF has expressed disappointment that the bank is not covering the tax on employee perquisites As per the data and appeal mentioned above, the union has appealed to the bank’s leadership to extend support on perquisite tax, stating that employees delivering the highest productivity and profitability deserve similar treatment to their peers in other banks.

BoM’s leading position in employee profitability for FY24 and  FY25 underscores the bank’s operational efficiency and strong workforce performance. However, the concerns raised by the AIBOMEF regarding the lack of management support for tax on employee perquisites highlight an ongoing challenge in aligning employee benefits with the bank’s financial success. Moving forward, addressing these concerns could play a key role in maintaining employee satisfaction alongside sustained profitability.