Mumbai based Bombay Mercantile Cooperative Bank has announced a remarkable surge in profits for the financial year 2024-25, underscoring its strong financial health and strategic growth trajectory.
At its 88th Annual General Meeting held at Haj House, Mumbai, Chairman Zeeshan Mehdi revealed that the bank’s operating profit jumped to Rs. 40.29 crore, up from Rs. 25.10 crore in the previous year, while net profit stood at Rs. 2.38 crore.
The bank’s total business volume reached an impressive Rs. 3,924.92 crore, comprising deposits of Rs. 2,537.06 crore and gross advances of Rs. 1,387.86 crore. Notably, CASA deposits rose to Rs. 1,618.38 crore, representing 63.79% of total deposits, reflecting growing customer trust and engagement.
Chairman Mehdi highlighted significant improvements in asset quality, with Gross NPA at 6.03% and Net NPA at 2.78%, well within RBI’s prescribed norms. Strong credit risk management and recovery initiatives reduced fresh slippages from Rs. 23 crore in 2023-24 to Rs. 9.20 crore in 2024-25.
The bank’s Foreign Exchange Department also achieved a milestone turnover of Rs. 9,074.43 crore, demonstrating its expanding capabilities in international banking services.
To sustain operational resilience, the bank has strengthened internal controls and enhanced cybersecurity measures, ensuring robust risk mitigation in an evolving financial landscape.
“The bank remains committed to delivering exceptional services and adapting to the dynamic needs of our customers,” said Mr. Mehdi. He extended gratitude to the management, employees, and stakeholders for their unwavering support.
Founded in 1939, Bombay Mercantile Cooperative Bank operates 52 branches across ten states, along with seven specialized foreign exchange branches nationwide, serving a diverse clientele with innovative banking solutions.
This strong performance, coupled with strategic initiatives, positions Bombay Mercantile Bank on a path of sustained growth and customer-centric innovation.