SVC Bank, formerly The Shamrao Vithal Co-operative Bank Ltd, marked its Foundation Day on Tuesday as it entered its landmark 120th year, underscoring more than a century of cooperative banking rooted in trust, ethics and community-centric growth, while charting an ambitious, technology-driven future.
Founded in 1906, SVC Bank is among India’s oldest multi-state scheduled cooperative banks and has played a pivotal role in the evolution of the country’s cooperative movement. On the occasion, the Bank reflected on its long journey while reaffirming its focus on strong governance, transparency, digital innovation and enhanced customer experience.
Addressing stakeholders, Chairman Shri Durgesh Chandavarkar said the Bank’s entry into its 120th year reflects the enduring confidence reposed by customers, members and stakeholders across generations. He said the institution remains committed to strengthening governance frameworks, deepening transparency and responsibly leveraging technology to build a resilient, future-ready cooperative bank capable of meeting evolving stakeholder expectations.
Over the years, SVC Bank has steadily expanded its footprint and diversified its offerings to cater to MSMEs, retail customers and financial inclusion initiatives. In recent years, the Bank has sharpened its digital focus, rolling out multiple technology-led initiatives to streamline banking and investment processes and improve service efficiency and security.
The milestone year also comes on the back of a strong financial performance. As on March 31, 2025, the Bank’s total business stood at Rs 39,353 crore, with net profit rising 10.52 per cent year-on-year to Rs 241 crore. Asset quality indicators improved further, with gross NPAs declining to 1.96 per cent and net NPAs falling to 0.25 per cent. The Provisioning Coverage Ratio strengthened to 87.54 per cent, reflecting robust risk management and balance sheet resilience.
As part of its 119th anniversary celebrations, the Bank organised a special event for employees, recognising their contribution through interactive activities and an Employee Award Distribution Ceremony. Employees were honoured for performance, leadership and commitment across functions for FY 2024–25, reinforcing the Bank’s emphasis on people as a core pillar of its growth.
Headquartered in Mumbai, SVC Bank today operates across 10 states and one Union Territory, with a network of 203 branches, 220 ATMs and a workforce of over 2,400 employees. The Bank offers a comprehensive range of services spanning retail, corporate and international banking.
SVC Bank’s performance and innovation have earned it several industry accolades in recent years, including the Leader Award at the 9th All India UCB Summit & Awards 2025, Best HR Transformation and Best Audit Transformation Awards at the FCBA Awards 2025, and multiple honours at the Rashtriya Coop Samman Samaroh 2025. These recognitions, the Bank said, reflect its leadership in cooperative banking, commitment to technology and people, and its continuing role in advancing inclusive and sustainable financial growth as it embarks on its 120th year.
