TJSB Sahakari Bank has released its audited financial results for the FY 2024–25 within just 10 days of the financial year’s close, positioning it among the few Urban Cooperative Banks (UCBs) in India to achieve such prompt financial disclosure.
Financial Performance Highlights:
- Total Business Mix: Rs 23,104.82 crore
- Deposits: Rs 14,848.64 crore
- Advances: Rs 8,256.18 crore
- Gross Profit: Rs 252.07 crore
- Net Profit: Rs 185.38 crore
- Gross NPA: 3.59 Per cent
- Net NPA: 0.00 per cent
- CRAR: 17.48 per cent
The slight decline in profit compared to the previous fiscal year is attributed to strategic investments in technology and expansion initiatives, including the implementation of the TCS Core Banking Solution, which is expected to enhance operational efficiency and profitability in the coming years.
The Bank has expanded its operational footprint to seven states, including Chhattisgarh and Rajasthan, with plans to open new branches in these regions. The bank is also pursuing the merger of Sawantwadi Urban Co-operative Bank, which has nine branches, pending approval from the Reserve Bank of India (RBI).
In a significant development, TJSB received a Government Resolution allowing it to manage salary and pension accounts, as well as deposit collections for government employees and departments, thereby enhancing its service portfolio and customer base.
The bank’s commitment to technological advancement is evident in its transition to a modernised core banking system, aimed at providing customers with a seamless, faster and more secure banking experience.
Sharad Gangal, Chairman of theTJSB Sahakari Bank emphasised the importance of these developments, stating, “Our performance this year reaffirms TJSB’s financial resilience. The CBS upgrade marks a revolutionary change in our operations, enhancing service speed and paving the way for further digital advancements. We remain committed to a customer-first approach and innovative banking solutions.”
Managing Director and CEO, Nikhil Arekar, too expressed his opinion.
He added, “The Government GR and the successful amalgamation are key milestones reflecting our dedication to growth and excellence. Expanding into Goa strengthens our presence, and with a total of 149 branches, we are set for a new era of growth. We will continue to drive financial inclusion through branch expansion and digital services.”
TJSB’s early audit completion and proactive disclosure of financials underscore its commitment to transparency and good governance, setting a high benchmark for others in the cooperative banking sector.
