SVC Co‑operative Bank Ltd., formerly known as The Shamrao Vithal Co-operative Bank Ltd., a multi-state scheduled bank in India, concluded its 120th Annual General Meeting (AGM) on July 18th 2026, at NMIMS, Mukesh Patel Auditorium, Navyug Society, Navpada, JVPD Scheme, Opposite Mithibai College, Vile Parle (West), Mumbai. The meeting, attended by shareholders, board members, and senior management, commenced with an auspicious lamp‑lighting ceremony, followed by feedback and thoughts extended by the Bank’s shareholders.
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Mr. Durgesh S. Chandavarkar, Chairman; Mr. Arun D. Mavinkurve, Vice Chairman; the Board, Board of Management, MD Mr. Ravinder Singh and senior executives at the Bank’s 120th AGM
Chaired by Mr. Durgesh S. Chandavarkar, the Chairman of the Bank; all agenda items and meeting topics set out in the notice to members were transacted.
The Bank also presented its Audited Financials for the year ended March 31, 2026, reporting Total Business of Rs. 43,693 crore, a year-on-year growth of 11.03%. Deposits rose to Rs. 24,956 crore, a 11.51% year-on-year growth from Rs. 22,380 crore in the previous financial year, while Advances increased to Rs. 18,737 crore, a 10.40% year-on-year growth from Rs. 16,973 crore in the previous financial year. The Bank recorded a Net Profit of Rs. 205 crore for the financial year. Asset quality remained resilient with Gross NPA at 2.69% and Net NPA at 0.96%, and the Bank’s capital position strengthened with a Capital Adequacy Ratio (CRAR) of 15.48%.
During the AGM, Mr. Durgesh S. Chandavarkar, Chairman; and Mr. Arun D. Mavinkurve, Vice Chairman of the Bank; felicitated and honoured one of the Bank’s most valued customers, Mr. Dinkar Bhavanishankar Burde, in recognition of his remarkable association with the Bank since 1958. A centenarian, Mr. Dinkar Bhavanishankar Burde was celebrated for his unwavering trust and loyalty spanning nearly seven decades, symbolizing the enduring relationships the Bank has built with its customers. The special felicitation served as a tribute to his lifelong association with the Bank and reflected the institution’s commitment to recognizing and valuing the trust and support of its longstanding customers.
The financial year saw the Bank focus on digital transformation, reinforce risk management practices, and selectively expand its Branch network, while continuing to prioritise customer service and operational discipline.
“As SVC Bank holds its 120th AGM this year, our focus remains on building an institution that combines strong governance, financial resilience and customer trust with a clear vision for the future. The progress we have achieved reflects the collective commitment of our Board, Management and Employees, and we will continue to pursue sustainable growth while creating long-term value for our Members and Customers,” said Mr. Durgesh S. Chandavarkar, Chairman, SVC Co-operative Bank Ltd.
Looking ahead, SVC Bank plans to deepen its focus on retail and priority sector lending, including MSMEs, affordable housing, and institutional deposits, while further expanding its presence across the country.
About SVC Bank
Set up in 1906, SVC Bank is a 119-year-rich institution that has contributed significantly to the development of the co-operative movement in India for over a century. Today, the Bank is one of the oldest and most recognised names in the country’s co-operative banking space. SVC is a Multi-State Scheduled Co-operative Bank with its presence across 10 States & 1 Union Territory – Maharashtra, Karnataka, Goa, Gujarat, Rajasthan, Delhi, Haryana, Madhya Pradesh, Andhra Pradesh, Telangana and Tamil Nadu. Total Business of the Bank is at Rs. 43,693 Crores as on March 31, 2026 and Net Profit stands at Rs. 205 Crores. Gross NPA stood at 2.69% while Net NPA stood at 0.96% and the Provisioning Coverage Ratio (PCR) at 65.16%, reflecting the Bank’s strong financial fundamentals.
Headquartered in Mumbai, the Bank has a vast network of 203 branches, 220 ATMs and an employee strength of over 2,500. The Bank offers the entire gamut of services across Retail, Corporate and International Banking.
The Bank’s performance and innovation have been recognised through several recent industry awards.
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SVC Bank was honoured with three prestigious awards — Best Urban Co-operative Bank, Best Multi-State Urban Co-operative Bank and Best CTO/IT Head Of The Year — at the Bharat Ratna Sahakarita Samman Ceremony 2026, conducted at the Bharat Cooperative Banking Summit 2026, on June 6th, 2026, in Lucknow.
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The Bank was also honoured with the ‘Leading Bank Award’ in Category Tier IV at the 10th All India Co-operative Banking Summit & Awards 2026, conducted on May 8th & 9th, 2026, in Pune.
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The Bank was awarded Best Urban Co-operative Bank, Best Cyber Security Initiative and Digital Banking Innovation of the Year at the 3rd Rashtriya Urban Cooperative Banking Summit & Awards 2026.
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SVC Bank received three distinguished recognitions at IBA’s Annual Banking Technology Conference, Expo & Citations 2024-25, conducted on January 9th, 2026 in Mumbai: Best Fintech & DPI Adoption (Winner) in the Co-operative Sector Banks category, Best Tech Talent (Winner) in the Co-operative Sector Banks category and Best Technology Bank (Special Mention) in the Co-operative Sector Banks category.
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The Bank was awarded the Leader Award at the 9th All India UCB Summit & Awards, 2025, the Best HR Transformation and Best Audit Transformation Awards at the FCBA Awards 2025, and the Gold Award for the Bank’s Wall Calendar for the Year 2025 & Consolation Award for the Bank’s Annual Report F.Y. 2024-25, at the 15th PRCI Excellence Awards 2025. In addition, earlier honours include the Banco Blue Ribbon 2024 Award for excellence in the Urban Co-operative Bank category.
Other notable mentions:
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The Bank was also felicitated at the Rashtriya Coop Samman Samaroh 2025 with the titles of Best Urban Co-operative Bank, Best Multi-State Urban Co-operative Bank and Best Chairperson of the Year awarded to Shri. Durgesh S. Chandavarkar.
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SVC Bank was recently awarded the prestigious ‘Most Innovative CFO’ Award at the Silver Feather Awards 2025 – 6th Edition and ET Now’s “Best Organisations to Work 2025”. These accolades reflect the Bank’s leadership in co-operative banking, commitment to technology and people, and its role in advancing financial inclusion.
SVC Bank website: www.svc.bank.in
