Maharashtra based Raigad District Central Cooperative Bank is one of the fastest growing DCCBs in India, performing well on all the financial parameters and the business crossing to more than Rs 5k crore in the 2023-24 FY.
An unaudited figure coming to the Indian Cooperative desk reads, “The bank’s business grew from Rs 4,327 crore in the 2022-23 FY to Rs 5,219 crore as on 31st March 2024.
The bank deposits increased to Rs 2572 crore (2022-23) to Rs 2971 crore as of 31st March 2024 whereas loans outstanding grew from Rs 1755 crore to Rs 2248 crore.
The bank earned a gross profit of Rs 73.50 crore but earlier i.e. 2023-24, it was Rs 51 crore. Raigad DCCB has a network of 60 branches with 17 ATMs. The net NPA of the bank stood at ‘Zero’ percent.
The bank was established in 1960 and the area of operation is the entire Raigad District with its Head Office situated at Alibag. The bank also won several awards from the state government as well as other organizations in different categories.