The Cosmos Co-operative Bank Ltd., one of India’s oldest and most trusted cooperative banks, reaffirmed its legacy of strength and performance at its 119th Annual General Meeting (AGM), held at Cosmos Tower in Pune.
Announcing the financial results, Chairman Adv. Pralhad Kokare declared a stellar net profit of Rs 180.62 crore for FY 2024–25. The bank closed the year with Reserves and other funds at Rs 2,497 crore, while maintaining a Capital to Risk Assets Ratio (CRAR) of 15.15%, well above regulatory requirements. Reflecting its confidence and stability, the Board recommended a 10% dividend for its members.
Cosmos Bank’s business volume continues to scale new heights. The overall business set-up crossed an impressive Rs 38,634 crore, comprising deposits worth Rs 22,907 crore and advances of Rs 15,727 crore. Importantly, the Bank has successfully met the Reserve Bank of India’s priority sector lending norms, demonstrating both financial discipline and social responsibility.
The AGM also marked a historic development in the cooperative banking sector. Members overwhelmingly approved the scheme of amalgamation of the Noida-based Citizen Co-op Bank Ltd. into Cosmos Bank. This strategic consolidation is expected to further expand Cosmos Bank’s reach and reinforce its position as a national cooperative banking leader. The proposal will now be forwarded to the Reserve Bank of India for final approval.
The gathering at ‘Sahakar Sabhagruha’ was a celebration of Cosmos Bank’s enduring trust, with members participating in large numbers. Alongside Chairman Kokare, the meeting was graced by Vice Chairman CA Yashwant Kasar, all Directors of the Board, and Managing Director Mrs. Apekshita Thipsay, reflecting the strength of the bank’s collective leadership.
Cosmos Bank, with its rich heritage dating back over a century, continues to exemplify resilience, innovation, and cooperative spirit. From building a strong financial base to expanding through mergers, the bank has consistently balanced growth with responsibility. Its performance in FY 2024–25 stands as a testament to prudent management, member trust, and a vision firmly aligned with the cooperative ethos.
As Cosmos Bank looks to the future, it stands tall as a beacon in India’s cooperative banking movement, blending tradition with modern banking practices, and consistently delivering value to its members and society at large.