- In an impressive turnaround, the Kokan Mercantile Co-operative Bank, a multi-state urban co-operative bank based in Maharashtra, has marked a significant achievement by successfully exiting the RBI’s Supervisory Action Framework (SAF) after a decade-long period.
- What makes this accomplishment even more remarkable is the Bank’s success in drastically cutting down its Net NPAs and completely eliminating all accumulated losses as of June 30, 2025, indicating a robust and sustainable recovery.
- According to the latest audited data obtained by Indian Cooperative, the Bank’s Net NPA plummeted to 4.33% as of March 31, 2025, a notable improvement from the 10.22% recorded in the fiscal year 2022–23.
- The Bank’s financial indicators showcase a positive and stable growth trajectory.
- Its total business has surpassed Rs 1,321 crore, reflecting a year-on-year growth of 6.89%.
In an impressive turnaround, the Kokan Mercantile Co-operative Bank, a multi-state urban co-operative bank based in Maharashtra, has marked a significant achievement by successfully exiting the RBI’s Supervisory Action Framework (SAF) after a decade-long period.
What makes this accomplishment even more remarkable is the Bank’s success in drastically cutting down its Net NPAs and completely eliminating all accumulated losses as of June 30, 2025, indicating a robust and sustainable recovery.
According to the latest audited data obtained by Indian Cooperative, the Bank’s Net NPA plummeted to 4.33% as of March 31, 2025, a notable improvement from the 10.22% recorded in the fiscal year 2022–23.
The Bank’s financial indicators showcase a positive and stable growth trajectory. Its total business has surpassed Rs 1,321 crore, reflecting a year-on-year growth of 6.89%. Meanwhile, the Bank’s Capital to Risk (Weighted) Assets Ratio (CRAR) stands strong at 17.06%, nearly double the regulatory requirement of 9%.
With a net profit of Rs 10.19 crore in FY 2024–25 and an increasing number of account holders and digital users, Kokan Bank is firmly on a growth trajectory. As of March 31, 2025, deposits reached Rs 813.01 crore, while advances totaled Rs 508.60 crore.
Much of this impressive performance can be attributed to the visionary leadership of Chairman Asif Dadan, who took the helm two years ago.
In a conversation with Indian Cooperative, Dadan expressed, “We are thrilled to share that not only have we exited the SAF, but we have also eliminated all past losses and achieved a substantial profit. We aim to keep this momentum going in the years ahead.”
With 25 branches operating across Greater Mumbai, Thane, Raigad, Ratnagiri, and Goa, the Bank is now preparing to attain the prestigious status of a Scheduled Co-operative Bank by 2028.
In a significant move, the Board of Directors has recognized the vital role Akbar Y. Kondkari has played in transforming the Bank by reappointing him as Chief Executive Officer for another three-year term, with the approval of the RBI, which extends his leadership until 2028.
Keeping up with the latest trends in banking, Kokan Bank is also broadening its digital presence by introducing RuPay Debit Cards, launching a dedicated mobile banking app, and integrating UPI, all aimed at providing smooth and secure banking services to its expanding customer base.