Maharashtra based SVC Co-operative Bank (formerly The Shamrao Vithal Co-operative Bank Ltd.), with a legacy of 118 years, successfully concluded its 119th Annual General Meeting (AGM) recently, reinforcing its vision for sustained growth, digital innovation, and inclusive banking.
Chaired by Durgesh S. Chandavarkar, the meeting was attended by shareholders, board members, and senior management, reflecting strong stakeholder trust. The Bank presented its Annual Report and Audited Financials for FY 2024–25, reporting total business of Rs 39,353 crore, a year-on-year growth of 11.93%.
Net profit rose to Rs 241.11 crore, up by 10.52%. Deposits reached Rs 22,380.48 crore, while advances grew to Rs 16,972.61 crore. Retail advances alone surged by over 19%. Gross NPAs dropped to 1.96% and net NPAs to 0.25%, with the CRAR standing at a solid 14.82% and business per employee at Rs 15.26 crore.
Chandavarkar hailed FY 2024–25 as a milestone year, noting that operational strength, technological investment, and member trust were key to the Bank’s success.
The Bank also highlighted major digital strides, such as launching Aadhaar-based digital demat accounts, UPI-ATM cardless cash withdrawals, the women-focused Shakti Savings Account, and an online dispute resolution system.
SVC Bank’s excellence was further acknowledged through numerous accolades in 2024–25, including the Tech-Savvy Legendary Bank Award, Best Urban Co-operative Bank of the Year, and a special mention from the Indian Banks’ Association for technology leadership. Chairman Chandavarkar received the Visionary Leader in Corporate Sector award at CONNECT – Future Ready Leaders in Viksit Bharat and was honoured as Best Chairperson of the Year by Bharat Ratna Sahakarita Samman 2024.
Looking ahead to FY 2025–26, SVC Bank plans to deepen its focus on retail and priority sector lending, including MSMEs, affordable housing, and institutional deposits. With RBI approval to open five new branches, the Bank has already inaugurated four, Chakan, Kumta, Davanagere, and Ulwe, and the fifth, at Karwar, will be launched by September 2025.
Established in 1906, SVC Co-operative Bank is a 118-year-old institution with deep roots in India’s cooperative banking movement. Headquartered in Mumbai, the Bank operates across 11 states and UTs, with 202 branches, 218 ATMs, and over 2,400 employees.
As of March 31, 2025, SVC Bank reported a total business of Rs 39,353 crore and a net profit of Rs 241 crore, marking a 10.52% growth. It has significantly improved asset quality with gross NPAs at 1.96% and net NPAs down to 0.25%.
The Bank boasts a Provisioning Coverage Ratio of 87.54%. SVC offers a full range of retail, corporate, and international banking services, with a Forex business of Rs 5,000+ crore annually. Widely recognized for its leadership and innovation, it has received several prestigious awards in 2024–25, including honours from Union Minister Amit Shah and the Indian Banks’ Association, underscoring its pivotal role in strengthening India’s cooperative finance sector.
