The Gujarat State Cooperative Bank (GSCB) held its Annual General Meeting (AGM) on Sunday, drawing several prominent dignitaries from the state’s cooperative sector.
Gujarat Cooperation Minister Jagdish Vishwakarma (Panchal) graced the occasion, along with Gujarat Legislative Assembly Speaker Shankar Chaudhary, NAFED Chairman Jethabhai Ahir, NCUI President Dileepbhai Sanghani, Gujcomasol Vice-Chairman Bipin Patel, Narhari Amin, G.H. Amin, Tejash Patel, and other leading figures.
Addressing the gathering, the dignitaries lauded the pivotal role that cooperatives play in promoting rural development and financial inclusion.
Minister Jagdish Panchal emphasized the need to strengthen district-level cooperatives, enhance micro-ATM and digital payment penetration, and implement schemes aimed at uplifting rural economies.
He highlighted that, under the visionary leadership of Hon’ble Prime Minister Shri Narendra Modi and Hon’ble Union Home & Cooperation Minister Amit Shah, the cooperative sector is witnessing unprecedented growth through the mantra of “Prosperity through Cooperation”. He expressed confidence that the extensive cooperative network will significantly contribute to building a developed India.
Extending his best wishes, the Minister wished the Gujarat State Cooperative Bank continued success and progressive growth.
During the meeting, the bank presented its robust financial performance for FY 2024–25, reporting a net profit of Rs 93.51 crore, a slight dip from the previous year’s Rs 106.9 crore. Deposits saw a healthy rise from Rs 12,012 crore to Rs 13,606 crore, while total advances touched Rs 9,424 crore.
The capital adequacy ratio improved to 16.35%, and gross NPAs dropped significantly to 0.34%, reflecting strong credit discipline.
The bank’s net worth increased to Rs 1,09,027 lakh, and a 15% dividend was declared in line with RBI guidelines. With interest income exceeding Rs 10,988 crore and nearly Rs 4,500 crore in other income, GSCB remains a financially sound and operationally efficient institution.
Furthermore, the bank reported a net NPA of 0.00% and a gross NPA of 0.34%.
Plans were also shared to mark the International Year of Cooperatives 2025, including enhanced digitization, financial literacy initiatives, and innovative funding mechanisms to support grassroots-level cooperatives.
