After years of financial distress, the Jharkhand State Cooperative Bank (JSCB) has scripted an extraordinary recovery. As per unaudited financials for the year ending March 31, 2025, the bank has recorded an operating profit of Rs 68.52 crore, effectively wiping out all past losses.
This unprecedented achievement comes two years after the election of a full-time board in March 2023, headed by Ms. Vibha Singh, marking a milestone as the first woman to lead the bank’s board.
The bank’s turnaround is further highlighted by a 100% increase in accumulated profit, rising from a loss of Rs 22.09 crore in FY 2023-24 to a profit of Rs 44.63 crore in FY 2024-25. The total deposit base surged to Rs 2,624.61 crore, reflecting a 9.97% year-on-year growth. Fixed Deposits grew impressively by 14.39%, signaling increased depositor confidence.
On the lending side, Total Loans & Advances rose modestly by 2.65% to Rs 1,141.39 crore. Despite this expansion, asset quality remained stable, with Gross NPA at 9.53% and Net NPA at 3.15%, demonstrating prudent credit management.
Speaking to Indian Cooperative, Chairperson Ms. Vibha Singh said, “Notably, challenges such as the twin elections (Lok Sabha and Vidhan Sabha) and training duties affected recovery operations. However, the bank remains committed to reducing NPAs and is aiming for Zero NPA status in the new financial year.”
She added, “We will now focus on technology adoption, stricter credit discipline, and enhancing operational transparency. Efforts to introduce mobile banking, modern digital platforms, and technology-driven operations are already underway.”
With ambitions to achieve a Rs 10,000 crore business target, the bank is aiming to expand its reach at the grassroots level. It is also pursuing Scheduled Bank status and plans to launch mobile banking services soon—critical steps toward long-term institutional strengthening and staying competitive.
The bank’s Net Worth increased by 25.87% to Rs 257.93 crore, while its Capital to Risk-Weighted Assets Ratio (CRAR) stood at a robust 24.00%, well above regulatory requirements. Investments also grew by 12.38% to Rs 2,400.18 crore, indicating diversified income streams.
However, the CASA ratio declined slightly to 58.16%, down from 60.22% last year, showing a shift toward term deposits. The Credit-Deposit Ratio (CD Ratio) stood at 43.49%, indicating balanced credit deployment.
From a crisis-ridden past to a promising future, Jharkhand State Cooperative Bank has emerged as a symbol of resilience, reform, and responsible governance. The cooperative banking landscape in Jharkhand now has a success story worth celebrating—and emulating.
Very good performance of the Bank, initiated by CEO Dr Manoj Kumar under the abled guidance of Smt Vibha Singh, Chairperson.
Congratulations
Was Shri Manoj Kumar the so called initiator of the good performance of the JStCB during 2024-25 or someone else?