Cosmos Co-operative Bank has declared a one-month salary bonus for its 2,800 employees, following strong performance in FY24.
Chairman Milind Kale acknowledged the employees’ resilience during a cyberattack five to six years ago, which impacted morale but didn’t halt operations.
As of March 31, the bank’s business reached Rs 35,408 crore, a 15.16% increase, with deposits at Rs 20,216 crore and advances at Rs 15,192 crore.
The bank posted a net profit of Rs 384 crore and plans to introduce new loan products and invest in technology to enhance credit assessment.