Maharashtra based Raigad District Central Cooperative Bank is one of the fastest growing DCCBs in India, has performed well on all the financial parameters in the 2022-23 FY.
An unaudited figure coming to the Indian Cooperative desk reads, “The bank’s business grew from Rs 4,250 crore in 2021-22 FY to Rs 4,327 crore as on 31st March 2023. The bank deposits increased to Rs 2464 crore (2021-22) to Rs 2572 crore as of 31st March 2023 whereas loans outstanding grew from Rs 1382 crore to Rs 1755 crore.
The bank earned a gross profit of Rs 51 crore. Raigad DCCB has a network of 60 branches with 17 ATMs.
It was established in 1960 and the area of operation is the entire Raigad District with its Head Office situated at Alibag. The bank also won several awards from the state government as well as other organizations in different categories.