Gujarat’s Surat-based Varachha Cooperative Bank has announced a key leadership change, with Narendra Kukadiya elected as Chairman and Haresh Kapadia as Vice-Chairman.
Their appointments have been approved by the Cooperative Election Authority under the Union Ministry of Cooperation. Kukadiya succeeds B.B. Navapara, while Kapadia takes over from G.R. Asodariya.
The new leadership comes at a time when the bank is witnessing strong growth and consolidation. From modest beginnings in 1996, the bank has transformed into one of the leading urban cooperative banks in Gujarat. At the end of its first financial year, it had 4,484 shareholders, share capital of Rs 0.57 crore, deposits of Rs 2.70 crore, advances of Rs 2.07 crore, and a profit of Rs 0.05 crore.
During FY 2025–26, the bank has recorded remarkable expansion. It now has more than 65,000 shareholders, share capital of Rs 133.84 crore, deposits of Rs 4,411.11 crore, advances of Rs 2,571.31 crore, and a gross profit of Rs 95.61 crore.
The appointments are expected to further strengthen the bank’s growth trajectory and governance.
