SVC Co?operative Bank Ltd., formerly known as The Shamrao Vithal Co-operative Bank Ltd., a multi-state scheduled bank in India, concluded its 120th Annual General Meeting (AGM) on July 18th 2026, at NMIMS, Mukesh Patel Auditorium, Navyug Society, Navpada, JVPD Scheme, Opposite Mithibai College, Vile Parle (West), Mumbai.
The meeting, attended by shareholders, board members, and senior management, commenced with an auspicious lamp?lighting ceremony, followed by feedback and thoughts extended by the Bank’s shareholders.
Chaired by Durgesh S. Chandavarkar, the Chairman of the Bank; all agenda items and meeting topics set out in the notice to members were transacted.
The Bank also presented its Audited Financials for the year ended March 31, 2026, reporting Total Business of Rs 43,693 crore, a year-on-year growth of 11.03%. Deposits rose to Rs 24,956 crore, a 11.51% year-on-year growth from Rs 22,380 crore in the previous financial year, while Advances increased to Rs 18,737 crore, a 10.40% year-on-year growth from Rs 16,973 crore in the previous financial year.
The Bank recorded a Net Profit of Rs 205 crore for the financial year. Asset quality remained resilient with Gross NPA at 2.69% and Net NPA at 0.96%, and the Bank’s capital position strengthened with a Capital Adequacy Ratio (CRAR) of 15.48%.
During the AGM, Durgesh S. Chandavarkar, Chairman; and Arun D. Mavinkurve, Vice Chairman of the Bank; felicitated and honoured one of the Bank’s most valued customers, Dinkar Bhavanishankar Burde, in recognition of his remarkable association with the Bank since 1958.
A centenarian, Dinkar Bhavanishankar Burde was celebrated for his unwavering trust and loyalty spanning nearly seven decades, symbolizing the enduring relationships the Bank has built with its customers.
The special felicitation served as a tribute to his lifelong association with the Bank and reflected the institution’s commitment to recognizing and valuing the trust and support of its longstanding customers.
The financial year saw the Bank focus on digital transformation, reinforce risk management practices, and selectively expand its Branch network, while continuing to prioritise customer service and operational discipline.
“As SVC Bank holds its 120th AGM this year, our focus remains on building an institution that combines strong governance, financial resilience and customer trust with a clear vision for the future.
The progress we have achieved reflects the collective commitment of our Board, Management and Employees, and we will continue to pursue sustainable growth while creating long-term value for our Members and Customers,” said Durgesh S. Chandavarkar, Chairman, SVC Co-operative Bank Ltd.
Looking ahead, SVC Bank plans to deepen its focus on retail and priority sector lending, including MSMEs, affordable housing, and institutional deposits, while further expanding its presence across the country.
Established in 1906, SVC Bank is among India’s oldest multi-state scheduled co-operative banks. It operates across 10 states and one Union Territory through a network of 203 branches and 220 ATMs, supported by more than 2,500 employees. The Bank offers a full range of retail, corporate and international banking services.
The Bank highlighted a series of prestigious honours received during the year, including awards for Best Urban Co-operative Bank, Best Multi-State Urban Co-operative Bank and Best CTO/IT Head at the Bharat Ratna Sahakarita Samman Ceremony 2026.
It also received the Leading Bank Award at the 10th All India Co-operative Banking Summit & Awards 2026, honours for Digital Banking Innovation and Cyber Security at the Rashtriya Urban Cooperative Banking Summit & Awards, and multiple recognitions at the IBA Annual Banking Technology Conference 2024-25.
Additional accolades included the Leader Award at the 9th All India UCB Summit & Awards 2025, Best HR Transformation and Best Audit Transformation awards, the Banco Blue Ribbon 2024 Award, the Most Innovative CFO Award at the Silver Feather Awards 2025, and ET Now’s Best Organisations to Work 2025, underscoring SVC Bank’s leadership in cooperative banking, technology adoption and financial inclusion.
