Andhra Pradesh’s leading Kanaka Mahalakshmi Co-operative Bank has reported strong financial growth for the fiscal year 2024-25, marking significant improvements across key financial indicators.
The bank’s total deposits rose to Rs 1,019.87 crore as of March 31, 2025, reflecting a 19.58% growth from the previous year’s Rs 852.86 crore. Advances also saw a substantial increase of 18.94%, rising from Rs 571.23 crore to Rs 679.43 crore.
With a 19.32% surge in total business, the bank recorded Rs 1,699.30 crore, an increase of Rs 275.20 crore over the last fiscal year. Gross profit grew by 14.94%, reaching Rs 32.65 crore, while net profit saw a modest rise of 3.47%, standing at Rs 11.03 crore.
The bank’s asset quality improved, with Gross NPA declining from 2.19% to 1.92%, while Net NPA remained at 0%, underscoring its strong credit management. The Credit-Deposit (CD) Ratio remained stable at 66.62%.
The bank’s management expressed satisfaction with these robust financial results and reaffirmed their commitment to delivering trusted banking services and ensuring financial stability in the cooperative banking sector.