Surat’s leading Varachha Co-operative Bank has delivered a stellar performance in the financial year 2024-25, with its net profit more than doubling compared to the previous year.
The bank reported a profit of Rs 77.19 crore as of March 31, 2025, against Rs 36.37 crore in March 2024, reflecting an impressive growth of 112.20%. Overall business also expanded steadily, rising from Rs 5,478.91 crore to Rs 5,839.25 crore, a 6.58% increase. Deposits grew by 7.10% to Rs 3,636.04 crore, while advances rose by 5.73% to Rs 2,203.20 crore.
With these results, the bank continues to strengthen its presence in Surat, where it operates 28 branches and 41 ATMs/CRMs.
The bank’s asset quality also showed marked improvement. Gross NPAs fell by 30.25%, standing at Rs 17.71 crore compared to Rs 25.40 crore a year earlier. On the digital front, adoption surged with sharp growth in mobile and WhatsApp banking users.
Celebrating 30 years of service, Varachha Co-operative Bank remains committed to serving the people of Saurashtra settled in Surat, particularly those engaged in the city’s thriving diamond and textile trade.
