Nashik Co-op Banks Report Strong Growth; NAMCO Posts ₹43.33 Cr Profit, Business Co-op Bank Crosses ₹400 Cr Mark

Nashik: Two major co-operative banks in Nashik have reported strong financial performance for the last financial year, reflecting steady growth in deposits, lending, and overall business.

The Nashik Merchants Co-operative (NAMCO) Bank has posted a net profit of ₹43.33 crore, informed Chairman Hemant Dhatrak during a press conference. The bank’s total business has reached ₹4,348.42 crore, with deposits increasing by ₹282.06 crore during the year.

Dhatrak stated that loan disbursement by the bank has crossed ₹450 crore. The bank’s CD ratio stands at 59.80 per cent, while gross profit is ₹71.70 crore. The non-performing assets (NPA) ratio is reported at 2.75 per cent.

He noted that the bank’s performance across key indicators such as deposits, loans, profit, and NPA has been satisfactory. Despite fluctuations in the investment market, the bank avoided major depreciation losses due to its effective investment strategy.

Looking ahead, NAMCO Bank plans to expand its network by opening five new branches—three in Nashik city, one in the district, and one outside the state. The chairman also announced that a proposal for a 15 per cent dividend for members will be presented at the annual general meeting scheduled in June.

Meanwhile, the Business Co-operative Bank, Nashik Road, has crossed the ₹400 crore business milestone by the end of March 2026, informed Chairman Vijay Sanklecha.

The bank has recorded a total business of ₹413 crore, with a gross profit of ₹4.53 crore and a pre-tax profit of ₹1.90 crore. Its CD ratio stands at 62 per cent.

Sanklecha highlighted that deposits have increased by ₹40 crore compared to the previous year, reaching ₹256 crore. Loan disbursement has risen by ₹19 crore, taking the total to ₹158 crore.

The bank has registered an overall growth of 17 per cent in its business. Its total investment stands at ₹111 crore, while it has maintained a net NPA ratio of zero per cent.

He credited the bank’s 29-year growth journey to the continued support of members, depositors, and account holders.

On the occasion, senior officials and directors from both banks were present, including Vice Chairman Prakash Dayama, Public Relations Director Devendra Patel, and CEO Trigun Kulkarni, along with several board members. From the Business Co-operative Bank, Vice Chairman Dr Umesh Nagarkar, Public Relations Director Mohan Lahoti, and Management Board Chairman Ashok Tapadiya were also in attendance.

The performance of both banks highlights the resilience and steady growth of Nashik’s co-operative banking sector amid evolving financial challenges.