The business of the bank in 2024-25 is Rs5839.25 Cr, with y/y growth of 6.58%
FinTech BizNews Service
Mumbai, April 3, 2025: The Varachha Co-operative Bank's net profit is Rs77.19 Cr at the end of the FY 2024-25, which was Rs36.37 crores at the end of the year 2023-24. So, there has been growth of 112% in net profit in the ’24-25, as per the unaudited results on certain key parameters.
The business of the bank is Rs5839.25 Cr, with y/y growth of 6.58%, against the business of Rs. 5478.91 crores in the year 2023-24. The bank, in its 30th year, has been one of the leading banks among all the urban соoperative banks of Gujarat. In the year ending on 31/03/2025, Advances has grown by 5.73% at Rs2203 Cr and deposit has increased by 7.10% at Rs3636 cr.
Total business in the year 2022-23 was Rs. 4554.01 crore which had increased to the total business of Rs. 5478.91 crores in the year 2023-24 ,which showed hike of Rs. 924.90 crore with an increase of 20.31% y/y. In the year ending on 31/03/2024, Advances had grown by 22.32% and 19.11% hike in deposit.
Allocation of Profits
The Varachha Co-operative Bank's net profit has been steadily increasing for the last 7 years. The total net profit of the bank at the end of the year 2024-25 is Rs77.19 Cr, with 112% y/y growth. The total income of the bank at the end of the year 2023-24 was Rs.267.08 crore against the total expenditure of Rs. 202.04 crore so, the gross profit was Rs65.05 crores. Out of which Rs.14.00 crores was paid in income tax and from the rest after making various provisions like staff bonus, bad and doubtful debts, long term finance, deferred tax liabilities expenses; the total net profit of the bank was Rs. 36.37 crores in 23-24, which was an increase of 114.47 percent compared to its previous FY.
