VCB clocks net profit of Rs.71.77 crore in FY25
Visakhapatnam Cooperative Bank (VCB) reported a net profit of ₹71.77 crore for FY25, reflecting strong financial performance and robust growth in banking operations.
VCB clocks net profit of Rs.71.77 crore in FY25
Visakhapatnam Cooperative Bank Limited (VCB) has earned a net profit of Rs.71.77 crore as on March 31 2025, according to its Chairman Chalasani Raghavendra Rao. He told the media here on Saturday that there are 1,11,593 members under the jurisdiction of his bank with 55 branches. The share capital in VCB is Rs.389.55 crore and deposits are Rs.4354.73 crore.
Rao said that loans worth Rs. 3,436.47 crore have been disbursed. Of this, 95 percent has been disbursed in an amount less than Rs. 1 crore. The Chairman said that VCB is receiving appreciation from various sections by giving priority to the common man and serving 1. 3 lakh borrowers according to their needs.
The business turnover of VCB has reached about Rs.7800 crore for the financial year 2024-25. He said that medical insurance is being provided to VCB members adding a minimum of Rs. 5,000 and maximum of Rs. 1 lakh is being provided towards free insurance to the families of deceased members equal to their share capital. He said that an additional Rs.50,000 is being paid to the families of members who die in accidents. He said that educational awards are also being given to the children of members.
Rao said that they have set a target to increase business turnover to Rs. 8,600 crore by the end of the financial year 2025-26 and that preparations are being made to open fice more branches this year.
Rao explained that by the end of this year, the bank aims to open five new branches in Nuziveedu, Tenali, Amalapuram, Hyderabad and Visakhapatnam, taking the total number to 60.
He said they are firm to expand the bank services to Nandyal, Annamayya, Sathya Sai, Khammam, Nalgonda and Warangal districs. He said that they will send proposals to the RBI to grant scheduled bank status.
Among others, VCB Directors Surpaneni Nagabhushan Chowdhury, AJ Stalin, N. Kama Raju, V. Chandra Sekhar, JV Satyanarayana Murthy, Gullapalli Janardhana Rao, Ch. Adinarayana Sastry, P. V. Ramana Rao, K. Prasada Rao, Uppalapati Parvathi Devi, A. Ramakrishna Rao, C. Koteswara Rao, C. Krishna Mohan Rao, Emani Avani, PV Narasimha Murthy, Ch. Rama Rao, N. Anjayya, Director (Co-opted) Dr. Ramamurthy Vaidyanathan, CEO VVB Varalakshmi and others were present.
