Marking 25 glorious years of cooperative banking, Telangana’s Gayatri Co-operative Urban Bank has declared its emergence as the Numero Uno among peers with a total business of Rs 3,428.46 crore, 66 branches, and nearly 7.9 lakh loyal customers.
The announcement was made at the bank’s 25th Annual General Meeting held last week at its Jagtial Head Office.
Vice President Somisetty Ravikumar, while addressing the members, said the bank is marching confidently to achieve a new milestone of Rs 4,200 crore in business and reach an additional one lakh customers this fiscal. He also unveiled the bank’s plans to expand its footprint with 15 new branches, taking the total branch network to 81.
With strong fundamentals, Gayatri Bank posted a net profit of Rs 26.07 crore for FY 2024-25 and secured the coveted “A” category rating from statutory auditors. Deposits grew by 21.30% to Rs 1,790.37 crore while advances rose 28.79% to Rs 1,353.32 crore. The bank’s net worth now stands at Rs 146 crore, backed by investments of Rs 474 crore.
CEO Vanamala Srinivas, in his report, highlighted the bank’s thrust on technology-driven services. In FY 2024-25 alone, Gayatri Bank recorded 1,287.71 crore transactions through ATMs and 445.36 lakh transactions via UPI, reflecting its expanding digital reach. Direct RTGS/NEFT and Internet Banking services will soon be rolled out, he added.
Living up to its social responsibility, the bank provides Rs 1 lakh accidental insurance coverage for all savings account holders. In FY 2024-25, claims worth Rs 6.62 crore were disbursed to families of 662 deceased customers.
On this occasion, families of late Kolapaka Dinesh and late Nagula Bharat were also handed over the insurance benefit under the Gayatri Nirbhaya Savings Account scheme.
As the Silver Jubilee celebrations continue, Gayatri Bank stands tall on the pillars of transparency, innovation, and service to the underserved, powered by its 201 business correspondents reaching deep into villages across Telangana.
The AGM witnessed enthusiastic participation of members, directors, customers, cooperative department officials, and employees, who lauded the remarkable journey of Gayatri Bank from a small-town initiative to a multi-state cooperative giant.
DICGC not mentioned.