Maharashtra’s leading Scheduled Urban Cooperative Bank, Rajarambapu Sahakari Bank, has set an ambitious target of crossing Rs 5,000 crore in total business by December 2026, after achieving its highest-ever business of Rs 4,554.18 crore in FY 2025-26.
The bank’s deposits increased to Rs 2,785.16 crore, while advances stood at Rs 1,769.02 crore, taking its total business beyond the Rs 4,500-crore mark. Membership also rose to 54,307, while its branch network expanded to 51 branches (50+1) across Maharashtra.
Speaking to the Indian Cooperative over the phone, the bank’s CEO CA Pradip Babar said the bank deliberately prioritized financial prudence over higher profitability during the year. Although the bank earned a gross profit of Rs 62.37 crore, its net profit stood at Rs 15.73 crore after making substantial provisions and strengthening reserves.
“The decline in net profit is primarily due to the impact of depreciation on government securities. The bank created an Investment Depreciation Reserve (IDR) of around Rs 10 crore out of its profits and also wrote off Rs 5-6 crore of non-banking assets. These were prudent accounting measures aimed at strengthening the bank’s balance sheet rather than maximizing short-term profits,” Babar said.
The CEO added that these measures have significantly enhanced the bank’s financial resilience. Despite the additional provisioning, the bank improved its asset quality, with Gross NPA declining to 3.51%, while Net NPA remained at zero, reflecting effective recovery and risk management.
On expansion plans, Babar said the bank intends to open only two to three new branches in the near future. “Our immediate priority is to deepen our presence in existing markets and achieve the Rs 5,000-crore business milestone by December,” he said.
The bank closed FY 2025-26 with a CRAR of 15.18%, working capital of Rs 2,947.90 crore, investments of Rs 1,290.75 crore, and an ‘A’ audit classification, further reinforcing its position as one of Maharashtra’s leading Scheduled Urban Cooperative Banks.
