Maharashtra’s multi-state scheduled bank- Khamgaon Urban Cooperative Bank has achieved a remarkable business mix of Rs 1,965.33 crore in 2024-25 FY and is now setting its sights on crossing Rs 2,300 crore in the current financial year 2025–26.
With steady growth across key financial parameters, the bank is also focusing on technological upgrades to stay competitive in the evolving banking landscape.
Speaking exclusively to Indian Cooperative, the bank’s CEO, D.B. Jadhav said, “The last financial year was satisfactory on all key parameters. We maintained a strong asset quality with a Net NPA of zero for the past 3–4 years, and Gross NPA contained at 3.57%.”
“Our gross profit stood at Rs 23.33 crore, and even after making significant above-the-line provisions for ARC (Asset Reconstruction Company) exposure, we registered a net profit of Rs 9.57 crore”, he added.
To stay competitive in the evolving banking environment, the bank is planning a major upgrade of its Core Banking System (CBS). “We are exploring cloud-based platforms like Finacle to bring our technology infrastructure on par with leading cooperative banks such as Saraswat and Cosmos,” Jadhav said. “Technology will play a critical role in our growth and service delivery going forward.”
The bank currently operates 35 branches and two extension counters. It now aims to expand its footprint further by opening three new branches. Expansion into Madhya Pradesh, particularly in cities like Indore, is also under consideration, though not yet finalized.
As of FY 2024–25, the bank’s total deposits stood at Rs 1,265.21 crore, while advances were at Rs 700.12 crore. The Capital to Risk (Weighted) Assets Ratio (CRAR) was a robust 23.21%, well above the regulatory requirement.
Khamgaon Urban Cooperative Bank operates within a cooperative framework and is ideologically aligned with the Rashtriya Swayamsevak Sangh (RSS). “Our mission is to empower the public financially while adhering to cooperative principles and adopting modern banking practices,” said Jadhav, who brings over three decades of experience from Cosmos Bank and has recently been given full-fledged charge as CEO after serving in an acting capacity.
With a blend of ideological vision, operational strength, and a focus on modernization, the bank is poised for its next phase of sustainable growth.
