The Kanaka Mahalakshmi Cooperative Bank, the third-largest urban cooperative bank in Andhra Pradesh, has reported steady growth in the current financial year and has been upgraded from Tier-4 to Tier-3 category.
According to CEO K. Shyam Kishore, the bank’s deposits have increased from Rs 1,020 crore on 31 March 2025 to Rs 1,091 crore at present. Advances stand at Rs 691 crore, taking the total business mix to Rs 1,782 crore.
The bank opened five new branches this year, expanding its network from 33 to 38 branches. It plans to add at least five more branches in 2026–27.
The bank has also announced its goal of becoming a Scheduled Bank in FY 2026–27, and is working to meet the required regulatory benchmarks. Its targets for 2025–26 include deposits of Rs 1,200 crore, advances of Rs 800 crore and a business mix of Rs 2,000 crore. It aims to achieve Rs 15 crore profit and pay 15% dividend to shareholders.
The bank expects to maintain GNPA below 3%, keep Net NPA at zero and sustain a CRAR of 16%. The RBI has classified the bank as Financially Sound and Well Managed (FSWM).
A few days ago, the bank opened two new branches, one at Sheelanagar, Visakhapatnam, and the other at One Town, Visakhapatnam.
