The Surat People’s Cooperative Bank Ltd. marked another year of strong performance as it held its 103rd Annual General Meeting, presenting the Annual Report and audited financials for FY 2024-25. The Bank showcased steady growth in deposits, advances, and profitability, reaffirming its position as a trusted cooperative institution.
The Bank’s total business rose from Rs 11,068.20 crore in FY 2023-24 to Rs 11,943.81 crore in FY 2024-25, registering a growth of 7.91%. Deposits increased to Rs 6,898.38 crore, while gross advances grew by 17.31% to Rs 5,045.43 crore, reflecting diversification beyond the textile sector into multiple industries.
Total income during the year stood at Rs 678.23 crore, and after expenses and provisions of Rs 577.66 crore, the Bank reported a net profit of Rs 100.57 crore. Reserves and other funds strengthened by Rs 115.52 crore, taking the total to Rs 798.67 crore. The Capital Adequacy Ratio (CRAR) remained healthy at 16.43%.
Despite challenges in the sector, Gross NPAs were contained at just 1.76% of advances, while Net NPAs stood at zero, backed by strong recovery efforts.
With a focus on digitalization, financial discipline, and customer-centric services, the Surat People’s Cooperative Bank continues to set benchmarks in cooperative banking.
