One of the leading UCBs of Maharashtra, Nagpur Nagarik Sahakari Bank, has reported a robust performance for the financial year 2024-25, posting a pre-tax profit of Rs 36.22 crore and a post-tax profit of Rs 16.48 crore, a jump of Rs 8.08 crore, double that of last year.
The bank achieved a total business mix of Rs 3,451 crore, an increase of Rs 404 crore, or 13.25%, over the previous year. Total deposits stood at Rs 2,075.36 crore, while outstanding advances were Rs 1,376.44 crore at the year-end.
Significantly, the bank maintained its Net NPA at zero percent for the second consecutive year, while the gross NPA ratio fell from 5.50% in FY 2023-24 to 4.96% in FY 2024-25.
While addressing the recently conducted AGM, Chairman Prof. Sanjay Bhende highlighted the key role of micro, small, and medium enterprises (MSMEs) in the bank’s loan portfolio. He informed members that the bank has initiated the process of registering with the Credit Guarantee Fund Trust under the Ministry of MSME and SIDBI to offer quick and low-cost financing to MSME customers.
He further added that special loan schemes for solar energy and electric vehicles have been introduced, aligning with the Government of India’s renewable energy initiatives.
Under the Prime Minister’s Gharkul Yojana, the bank extended promotional home loans through its Wadi, Hingna, and Dharampeth branches, disbursing Rs 989.57 lakh to 104 beneficiaries in Nagpur city and district.
The renovation of the bank’s head office, including the Lakadganj branch and a 200-seat auditorium, has been completed, while the new building for the Pandhurna branch is nearing completion.
The bank has also signed an agreement with its employee representatives, granting a 17% salary hike along with concessional interest rates on all staff loans.
In line with RBI’s latest guidelines, the bank achieved 68.59% lending to the priority sector, 13.34% to weaker sections, and 40.27% as small-ticket loans, surpassing the mandated 40% target for small loans by March 2025.
Prof. Bhende extended gratitude to RBI officials, cooperation department authorities in Maharashtra, Madhya Pradesh, and Chhattisgarh, the Ministry of Cooperation, statutory auditors, legal advisors, architects, and property owners for their continued support.
He also thanked the shareholders, whose trust has propelled the bank’s progress over the past 63 years.
