Gujarat’s leading cooperative banks, including those in Surat, recorded mixed year-on-year growth in deposits and advances during the first half of FY2026-27, as of September 30, 2026. While several institutions reported double-digit growth in deposits and credit, others witnessed slower mobilisation or a decline in advances.
Gandhidham Mercantile Co-operative Bank led deposit growth among the 17 listed institutions, while Kalupur Commercial Co-operative Bank retained its position as the largest in terms of deposits and advances.
Gandhidham Mercantile Co-operative Bank recorded deposit growth of 24.26% to Rs 1,170.67 crore, followed by Banaskantha Mercantile Bank at 22.95%. Kalupur Commercial Co-operative Bank reported deposits of Rs 14,432.45 crore, up 10.98%, while advances increased 10.25% to Rs 9,513.38 crore.
Rajkot Nagrik Sahakari Bank also registered strong credit growth, with advances rising 16.90% to Rs 5,205.09 crore and deposits increasing 7.36% to Rs 7,251.56 crore. Ahmedabad Mercantile Co-operative Bank’s deposits grew 9.42% to Rs 2,980.06 crore.
However, growth remained uneven. Mehsana Urban Co-operative Bank’s deposits increased 2.53% to Rs 9,010 crore, while advances declined 8.21% to Rs 4,980 crore. Nutan Nagrik Bank recorded nearly flat deposit growth at Rs 2,867.03 crore, although its advances increased 10.46%.
Against this broader state-level backdrop, Surat’s cooperative banking sector also reported varied performance, with Varachha Co-operative Bank and Prime Co-op Bank registering notable gains. Surat People’s Co-operative Bank Ltd. (SPCBL) retained its leading position among the Surat banks covered in the comparison, with the highest deposits and advances.
SPCBL’s deposits rose 6.94% to Rs 7,579.50 crore from Rs 7,087.50 crore a year earlier, while advances increased 7.33% to Rs 6,125.02 crore from Rs 5,706.83 crore.
Varachha Co-operative Bank delivered stronger growth, with deposits rising 20.96% to Rs 4,514.01 crore and advances increasing 15.09% to Rs 2,883.50 crore. Sutex Co-operative Bank recorded deposit growth of 9.60% to Rs 3,477.84 crore, although its advances declined 2.40% to Rs 2,110.87 crore.
Prime Co-op Bank’s deposits climbed to Rs 2,835 crore from Rs 2,422.87 crore, while advances rose to Rs 1,800 crore from Rs 1,694.82 crore. Its combined deposits and advances reached Rs 4,635 crore, up Rs 517.31 crore year-on-year.
Prime Co-op Bank CEO Adil Gandhi said the bank had surpassed its previous full-year deposit growth within the first six months of FY2026-27. He also highlighted a Rs 5-crore improvement in profitability and CASA growth exceeding the corresponding growth recorded throughout the previous financial year.
“The bank has introduced five current-account variants and offers savings-account interest of up to 6.75%, subject to applicable terms and conditions. Having opened one branch, it plans to establish six more”, Gandhi added.
The figures underline the contrasting growth trajectories across Gujarat’s cooperative banking sector. While some banks are expanding deposits and lending simultaneously, others face pressure on credit growth, highlighting differences in business momentum during the first half of FY2026-27.
