Riding on its strongest-ever financial performance, Maharashtra’s Sindhudurg District Central Cooperative Bank (DCC Bank) has set an ambitious target of achieving a Rs 10,000 crore business mix within the next two years.
The announcement was made by Chairman Manish Dalvi at the bank’s 43rd Annual General Meeting (AGM) held on Wednesday, where he highlighted the bank’s sustained financial growth, improved asset quality and commitment to strengthening the cooperative ecosystem.
The bank closed FY2025-26 with a record business of Rs 7,176.20 crore, comprising deposits of Rs 3,942.57 crore and advances of Rs 3,233.63 crore. It also reported its highest-ever net profit of Rs 50 crore, along with a gross profit of Rs 149.43 crore.
Recognizing the bank’s robust performance, the Board announced a 13.5% dividend for members and a 20% bonus for employees.
“Our vision is to make every village economically stronger through the cooperative movement. The bank belongs to farmers and its members, and with their continued trust, we are confident of crossing the Rs 10,000 crore business milestone within the next two years,” Dalvi said.
The bank further strengthened its financial position by reducing its Gross NPA to 3.45% from 4.14% a year earlier while maintaining Zero Net NPA. It also retained its ‘A’ Audit Classification, underscoring sound governance and effective risk management.
Besides its financial achievements, the bank announced a series of farmer- and cooperative-centric initiatives. These include loans through Primary Agricultural Credit Societies (PACS) at interest rates one percentage point lower than direct bank lending, interest-free loans for warehouse construction, collateral-free loans of up to Rs 10 lakh for women Self-Help Groups, and enhanced financial support for agro-processing activities.
To support horticulture, the bank announced a 2% interest subsidy for 10,000 mango and cashew growers, with Rs 2.04 crore to be credited directly to eligible farmers. It has also earmarked Rs 30 crore to provide enhanced credit support for mango and cashew orchard owners.
On the technology front, the bank is implementing TCS’s advanced Core Banking Solution (CBS), enabling farmers to complete the entire loan application and sanction process digitally through their mobile phones via PACS.
Speaking on the bank’s future roadmap, Chief Executive Officer Aniruddha Desai said the bank would focus on digital innovation, operational efficiency and customer-centric services to sustain its growth momentum.
With record profitability, improving asset quality, continued investment in technology and a strong focus on rural development, Sindhudurg DCC Bank is positioning itself among Maharashtra’s leading district cooperative banks as it moves towards its Rs 10,000 crore business milestone.
