Saraswat Bank, India’s largest Urban Co-operative Bank with a 107-year-old legacy, has delivered yet another stellar financial performance for the financial year 2024–25, reinforcing its position as a leader in the co-operative banking sector.
The Bank’s Total Business surged to Rs 91,814 crore as of 31st March 2025, marking a significant rise from Rs 82,025 crore recorded on 31st March 2024. This growth was driven by Deposits of Rs 55,481 crore (up from Rs 49,457 crore) and Advances of Rs 36,333 crore (up from Rs 32,567 crore).
Achieving the highest Net Profit in its history, Saraswat Bank’s Net Profit grew to Rs 518.25 crore, compared to Rs 502.99 crore last year. The Bank maintained impressive asset quality, with Gross NPAs at 2.25% and Net NPAs at ZERO for the third consecutive year – a remarkable feat in the Urban Co-operative Banking space.
The Bank’s robust financial health is further reflected in its CRAR of 17.41%, well above the RBI-mandated 13%. The Bank’s Own Funds increased to Rs 5,484.91 crore from Rs 5,118.87 crore in the previous year.
Speaking about the Bank’s performance, Chairman Gautam Thakur said, “With its strong financial performance and operational efficiency, the Bank proudly retains its position as the largest UCB in the country. The Bank has relentlessly focused on strong processes, sturdy controls, asset quality, and excellent customer service.”
Adding further, Thakur said “True to its tagline, ‘Building Trust Across Generations’, Saraswat Bank is built upon the pillars of Trust, Integrity, and Service — the integrity of the Bank forms its solid foundation, and it has always enjoyed the trust of its depositors and customers, many of them spanning several generations!”
An early pioneer of the co-operative banking movement, Saraswat Bank is providing world-class products and services and continues to serve as a shining example in the sector through its relentless pursuit of excellence.
The Bank has always focused on the dual objectives of rapid growth and strengthening key financial ratios. With Rs 91,814 crore of Total Business achieved, the Bank is confident of soon achieving the historic milestone of Rs 1,00,000 crore in Total Business.”
The Bank has consistently been a profit-making and dividend-paying institution throughout its existence. It has a wide network of 311 branches spread across eight states — Maharashtra, Goa, Gujarat, Delhi, Haryana, Uttar Pradesh, Madhya Pradesh, and Karnataka — ably supported by a workforce of over 5,000 enthusiastic employees.
Keeping pace with India’s digital revolution, Saraswat Bank has been at the forefront of adopting cutting-edge technologies to provide a seamless customer experience.
The Bank has been recognized by Forbes Magazine in the World’s Best Banks Survey for four consecutive years, featured in the Fortune India 500 list for five years in a row, and has been awarded by the Indian Banks’ Association for six successive years. It has consistently won awards and accolades across categories such as cybersecurity, technology-led innovation, data excellence, risk management, and more.
As part of its Corporate Social Responsibility initiatives, the Bank has continually contributed to socially relevant causes that impact human lives. This year, the Bank donated Rs 4,25,00,000 (Rs 4.25 crore) to the Commissionerate of Health Services (Maharashtra State) to equip Primary Health Centres (PHCs) in Sindhudurg and Kolhapur. Each PHC typically covers a population of around 30,000 in rural areas or 20,000 in tribal areas.
Well done Saraswat Bank. This has been made possible only due to diligent, hardworking, devoted and sincere staff right from MD to the level of the peon. Only point of concern to me is the ratio of net profit to the total business. It’s not very great, may be because of the pressure on NIM. Or is it due to a smaller percent of low cost deposits including SB accounts. Nonetheless, this performance is stupendous. Hearty congratulations to the Board, its directors and members of Staff 👍👍.
Ratnakar Vasant Welling
Ex GM / Officiating MD