TJSB Sahakari Bank has recently published its audited financial results for FY 2024–25 within just 10 days of the financial year’s close.
This positions TJSB among a select few Urban Cooperative Banks (UCBs) in the country to complete their audit and financial disclosures in such a short span.
The audited figures paint a picture of sustained growth and resilience. Deposits rose to Rs 14,849 crore, while advances increased to Rs 8,256 crore, reflecting solid credit growth and growing customer trust.
While the bank reported a gross profit of Rs 252 crore and a net profit of Rs 185 crore, slightly down from last year’s Rs 280 crore and Rs 216 crore respectively, the marginal decline is attributed to strategic investments in technology and expansion.
Sharad Gangal, Chairman, TJSB explained, “We’ve invested in the TCS Core Banking Solution, and the associated depreciation costs impacted our profit temporarily. However, this is a forward-looking move, and we are confident it will enhance operational efficiency and profitability in the current year. We’re also focusing on inorganic growth opportunities.”
Highlighting the bank’s expansion strategy, Gangal added, “Our area of operations has now expanded to seven states, including Chhattisgarh and Rajasthan, from the earlier five. We plan to open new branches in these regions. We are also hopeful that the merger of Sawantwadi Urban Co-operative Bank, which has nine branches, will be approved by the RBI within this financial year.”
TJSB’s commitment to asset quality remained unwavering. Gross NPA improved to 3.59 per cent, and Net NPA stood impressively at 0.00 per cent, reinforcing the bank’s sound risk management practices. The CRAR (Capital to Risk-Weighted Assets Ratio) remained robust at 17.48 per cent, well above regulatory norms, showcasing a strong capital position.
TJSB’s early audit completion and proactive disclosure of financials not only reflect its commitment to transparency and good governance but also set a high benchmark for others in the cooperative banking space.
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