Andhra Pradesh-based Kanaka Mahalakshmi Cooperative Bank, which has surpassed a business mix of Rs 1,500 crore, inaugurated a new branch in Visakakshinagar, Visakhapatnam, on Thursday.
With the addition of this branch, the bank’s network has grown to 33 branches, with plans to open more by the 2025–26 financial year. Notably, the bank has already opened five new branches during the ongoing 2024–25 fiscal year.
Established on July 9, 1999, the bank has completed 25 years of successful operations, consistently earning profits each year. Its current business mix stands at Rs 1,541.52 crore.
The bank’s net profit increased to Rs 10.66 crore in the 2023–24 financial year, up from Rs 9.32 crore in 2022–23. For the current fiscal year, the bank has set a net profit target of Rs 12.50 crore.
Kanaka Mahalakshmi Cooperative Bank aims to achieve scheduled bank status by April 2026, with long-term plans to transition into a Small Finance Bank.
Ranked among the top three Primary Urban Cooperative Banks in Andhra Pradesh, the bank is recognized as financially sound and well-managed.
I am searching job in banking my higher education is MBA & i am a immedeitely joiner