In a remarkable turnaround, Maharashtra based multi-state urban co-operative bank- Kokan Mercantile Co-operative Bank has achieved a major milestone by successfully exiting the RBI’s Supervisory Action Framework (SAF) after a gap of ten years.
What makes the achievement even more impressive is the Bank’s ability to drastically reduce its Net NPAs and completely wipe out all accumulated losses as on 30th June 2025, signaling a strong and sustainable revival.
According to the latest audited figures accessed by Indian Cooperative, the Bank’s Net NPA dropped sharply to 4.33% as of 31st March 2025, a significant improvement from 10.22% recorded in FY 2022–23.
The Bank’s financial indicators reflect a positive and stable trajectory. Its total business crossed Rs 1,321 crore, registering a 6.89% year-on-year growth. At the same time, the Bank’s Capital to Risk (Weighted) Assets Ratio (CRAR) stood at a strong 17.06%, nearly double the regulatory requirement of 9%.
With a net profit of Rs 10.19 crore in FY 2024–25 and rising numbers of account holders and digital users, Kokan Bank has firmly set itself on a growth path. As per figures, deposits stood at Rs 813.01 crore, while advances reached Rs 508.60 crore as on 31st March 2025.
Much of the credit for this remarkable performance goes to the visionary leadership of Chairman Asif Dadan, who took charge two years ago.
Speaking to Indian Cooperative, Dadan said, “We are delighted to announce that not only have we exited the SAF, but we have also wiped out all past losses and earned a handsome profit. We intend to maintain this momentum in the years to come.”
Operating through 25 branches across Greater Mumbai, Thane, Raigad, Ratnagiri, and Goa, the Bank is now gearing up to achieve the coveted status of a Scheduled Co-operative Bank by 2028.
In a parallel development, the Board of Directors, acknowledging the instrumental role played in the Bank’s transformation, has reappointed Akbar Y. Kondkari as Chief Executive Officer for another three-year term, with RBI’s approval, extending his tenure till 2028.
In step with modern banking trends, Kokan Bank is also expanding its digital footprint with RuPay Debit Cards, a dedicated mobile banking app, and UPI linkage, offering seamless and secure banking services to its growing customer base.