Bombay Mercantile Bank Posts Robust FY25 Profit Surge, Charts New Growth Path

S A H Rizvi
Chief Of Bureau, New Delhi
The Times Kuwait

Buoyed by a significant surge in operating profit, the Bombay Mercantile Cooperative Bank unveiled a series of new initiatives, including innovative loan products and strategic deployment of surplus funds, to propel its growth trajectory to new heights.

At the 88th Annual General Meeting held at Haj House in Mumbai on Friday, Chairman Zeeshan Mehdi addressed stakeholders, highlighting the bank’s strong financial performance for the fiscal year 2024-25.

The bank’s operating profit soared to Rs. 40.29 crore, up from Rs. 25.10 crore in 2023-24, with a net profit of Rs. 2.38 crore for the same period.

Detailing the bank’s achievements, Mr. Mehdi reported a total business volume of Rs. 3,924.92 crore, comprising deposits of Rs. 2,537.06 crore and gross advances of Rs. 1,387.86 crore as of March 31, 2025. CASA (Current Account and Savings Account) deposits reached Rs. 1,618.38 crore, accounting for 63.79% of total deposits, reflecting strong customer confidence.

The Chairman emphasized improvements in asset quality, with Gross Non-Performing Assets (GNPA) and Net Non-Performing Assets (NNPA) reduced to 6.03% and 2.78%, respectively, as of March 31, 2025, well within the Reserve Bank of India’s prescribed limits.

Effective credit risk management and recovery measures slashed fresh slippages from Rs. 23.00 crore in 2023-24 to Rs. 9.20 crore in 2024-25.

Mr. Mehdi also highlighted the Foreign Exchange Department’s remarkable performance, achieving a turnover of Rs. 9,074.43 crore during the financial year 2024-25, marking a significant milestone for the bank.

To ensure operational resilience, the bank has implemented robust internal controls and processes to mitigate risks, with ongoing enhancements in cyber security measures to address emerging threats.

“The bank remains committed to delivering exceptional services to its customers and adapting to their evolving banking needs,” Mr. Mehdi stated.

He expressed gratitude to the management and employees for their dedication and to stakeholders for their unwavering support.

Established in 1939, Bombay Mercantile Cooperative Bank operates 52 branches across ten states, serving a vast and diverse client base. Besides, it has seven Foreign exchange branches pan India.