Cosmos Co-operative Bank Ltd., one of India’s oldest cooperative banks, is gearing up to celebrate its 119th anniversary on Saturday, 18th January 2025. The milestone is marked by a significant achievement—the successful amalgamation of 19 smaller cooperative banks. The most recent addition is The National Co-operative Bank, Bengaluru, integrated into Cosmos Bank on 6th January 2025.
The National Co-operative Bank, with 13 branches (12 in Bengaluru and one in Mysuru), reported a business setup of Rs 1,326 crore as of December 2024. With this merger, Cosmos Bank’s network has expanded to 183 branches, including 17 in Karnataka, and its total business setup now exceeds Rs 36,500 crore. “This expansion reflects Cosmos Bank’s commitment to growth and providing seamless banking services across regions,” stated CA Milind Kale, Chairman of the Board of Management.
In a smooth transition, the Bank recently held unopposed elections for its Board of Directors for 2024-25 to 2029-30. Adv. Pralhad Kokare and CA Yashwant Kasar were unanimously elected Chairman and Vice-Chairman, respectively, during the first Board meeting. Other Board members include Mrs. Rasika Gupta, CA Surekha Joshi, Mr. Praveenkumar Gandhi, Mr. Ajit Gijare, and others, each bringing diverse expertise to the table.
Recognizing the Bank’s rapid expansion, the Board of Directors has restructured the Board of Management. CA Milind Kale continues as Chairman of the Board of Management, joined by a team of experts, including CA Jayant Barve, Adv. Anuradda Gadale, and Dr. Achutha Jois, among others. Notably, three directors from the previous board have been retained, ensuring continuity in leadership and leveraging their experience for policy formulation and execution.
The leadership team emphasized the Bank’s strengthened governance framework, which they believe will enhance its operational efficiency and customer outreach. “The combined expertise of the Board of Directors and the Board of Management is a key advantage as we implement forward-thinking policies and expand our footprint in Karnataka,” said Adv. Pralhad Kokare, Chairman of the Bank.
The announcement was made at a press conference attended by Chairman Kokare, Vice-Chairman Kasar, Managing Director Mrs. Apekshita Thipsay, and other board members. Cosmos Bank continues its mission of fostering financial inclusion and innovation as it embarks on this new chapter of growth.
