In a major achievement despite a challenging deposit environment, India’s largest urban cooperative bank, Saraswat Cooperative Bank, has crossed the Rs 1 lakh crore total business mark. This milestone strengthens its position in the cooperative banking sector and marks a significant moment for the broader cooperative movement.
Established over 108 years ago, the bank’s journey reflects a strong legacy of trust, resilience, and steady growth. A key factor behind this success has been consistent leadership at all levels of the organization.
Speaking to Indian Cooperative, Saraswat Bank Chairman Gautam Thakur said the bank has not only reached but surpassed the Rs 1 lakh crore mark, with audited figures expected by April 20, 2026. He attributed this achievement to the collective efforts of employees, management, and the Board.
Calling it a proud moment for the institution, Thakur expressed gratitude to customers for their continued trust and to shareholders for their unwavering support. He also acknowledged the contribution of past leadership in laying a strong foundation for sustained growth.
Looking ahead, the bank plans to maintain its expansion momentum. Thakur expressed confidence that, at the current pace, the next Rs 1 lakh crore milestone could be achieved within the next 7 to 8 years.
He also expressed his gratitude to the Ministry of Cooperation and the Reserve Bank of India for fostering an enabling environment for the growth of UCBs.
As part of its growth strategy, Saraswat Bank has recently opened eight new branches in North India and plans to add 13 more branches in April and the coming months, aiming to expand beyond its traditional strongholds.
This achievement is particularly noteworthy given that FY 2025–26 was a challenging year. During this period, the bank undertook the merger of the scam-affected New India Cooperative Bank, a process that required careful management. Despite this, the bank sustained its growth momentum.
Overall, this milestone highlights the strength and scalability of Saraswat Bank and reinforces the potential of cooperative banks in India. It sends a strong signal that well-governed urban cooperative banks can compete effectively in a highly competitive banking ecosystem.
The achievement is expected to inspire other cooperative banks to scale up operations and adopt strong governance practices, positioning UCBs as a significant force in India’s banking landscape. With this milestone, Saraswat Cooperative Bank is now larger than some private sector banks.
