BoM Unions Resist Plan to Sell METCO Subsidiary

The employee and officer unions of Bank of Maharashtra (BoM) have voiced strong opposition to a proposed sale of its entirely‐owned subsidiary, Maharashtra Executor & Trustees Company Pvt Ltd (METCO) . The call comes via a letter addressed to the bank’s Managing Director, pointing to METCO’s long history and continued profitability, as reported by The Free Press Journal.

METCO, established over seventy years ago, has served as a trusted institution in its domain, according to union representatives. They assert that despite challenges, METCO remains profitable. The unions argue that divesting the bank’s entire stake in this subsidiary would be “ill-advised and contrary to the broader institutional and customer interests”.

One of the primary concerns raised is the impact on trust and reputation. The unions warn that a sale, especially if executed without meaningful consultation or transparency, might undermine client and customer confidence in both METCO and the parent bank. They further highlight that strategic decisions of this nature should be taken only after thorough consultation with all stakeholders and a careful evaluation of the long term impact on the bank’s reputation and customer trust.