Uttar Pradesh State Co-operative Bank (UPCB) has showcased impressive financial growth in the fiscal year 2024-25, with significant improvements in key performance metrics. The bank’s total business expanded by 6.84%, reaching Rs 27,188.97 crore as of March 31, 2025, compared to Rs 25,447.35 crore in the previous fiscal year.
Net profit surged by 37.56%, rising from Rs 72.87 crore to Rs 100.24 crore, demonstrating improved operational efficiency and profitability. A major achievement was the 14.91% increase in deposits, which grew from Rs 11,414.51 crore to Rs 13,116.72 crore, reflecting enhanced customer trust and financial stability. The bank’s own fund also saw a 7.81% rise, reaching Rs 1,516.43 crore, while its Provision Coverage Ratio (PCR) improved by 13.21%, standing at 129.76%, reinforcing financial resilience.
Commenting on the bank’s unaudited financial results, Managing Director Rajesh Kumar Kulshrestha credited the success to the dedicated efforts of State Cooperation Minister J.P.S. Rathore, U.P. Principal Cooperation Secretary Sorabh Babu, Registrar of Cooperative Societies Anil Kumar Singh, Bank Chairman Jitendra Bahadur, the Board of Directors, shareholders, and other stakeholders. He assured that efforts to enhance performance would continue in the current financial year.
Despite overall positive growth, the bank witnessed a slight decline of 1.13% in investments, which fell from Rs 6,307.02 crore to Rs 6,235.44 crore. However, loans and advances grew by 2.33%, reaching Rs 23,061.51 crore, while outstanding loans and advances increased marginally by 0.28%, totaling Rs 14,072.25 crore.
A key highlight was the 11.92% decline in Gross Non-Performing Assets (NPA), which dropped from 3.06% to 2.70%, showcasing improved asset quality and recovery efforts. The Net NPA remained at 0.00%, indicating strong credit management.
UPCB has outperformed commercial banks in loan and advance growth within the state, achieving a Credit-Deposit (CD) ratio of over 72%, significantly higher than the state’s overall banking sector CD ratio of 61%.
Uttar Pradesh Chief Minister Yogi Adityanath praised this achievement, noting that the state’s proactive approach towards financial inclusion was yielding results. He recalled that before 2017, cooperative banks and Primary Agricultural Credit Societies (PACS) were struggling, but the government’s intervention helped revive the sector.
Since the Yogi government’s first term in March 2017, UPCB’s business has grown remarkably from Rs 13,237 crore in FY17 to Rs 25,500 crore in FY24, marking an increase of Rs 11,700 crore in eight years. The bank’s net worth, which stood at Rs 870 crore in FY17, rose to Rs 1,407 crore in FY24, while its deposits reached Rs 11,415 crore.
The bank’s loan portfolio expanded by 240%, from Rs 9,190 crore in FY17 to Rs 22,536 crore in FY24. Its income also saw substantial growth, rising from Rs 808 crore in 2016-17 to Rs 1,265 crore in FY24, while net profit reached Rs 100 crore.
Uttar Pradesh has a strong cooperative banking network, with around 1,300 branches, including UPCB, 50 District Co-operative Central Banks (DCCBs), and UP Sahkari Gram Vikas Bank. The DCCBs operate the largest network, with 1,266 branches.
To strengthen cooperative banks and improve rural financial inclusion, the state government recently infused fresh capital into 16 struggling DCCBs in districts such as Faizabad, Shravasti, Allahabad, Sitapur, and Gorakhpur.
With strong financial growth, improved efficiency, and government support, UPCB is set to play a crucial role in expanding rural banking and promoting last-mile financial inclusion across Uttar Pradesh.
