By S A H Rizvi
Chief of Bureau, New Delhi
The Times Kuwait
Registering a whopping increase of 66 percent in its operating profit, the Bombay Mercantile Co-operative Bank Ltd. today reaffirmed its commitment to focus on sustainable growth, financial strength, and improved customer service.
Addressing shareholders at the Bank’s 89th Annual General Meeting held on September 4, 2026, at Haj House, Mumbai, Chairman Mehdi stated that despite the grim economic scenario and global turbulence, the Bank achieved an operating profit of Rs 660 million. It also breached the Rs 40,000 million mark in total business, growing from Rs 39,250 million to Rs 41,650 million — a 6 percent increase. “Overcoming the economic gloom, the Bank recorded a significant surge in Net Profit, which rose from Rs 23.8 million to Rs 143.7 million”, the Chairman informed.
Mehdi told shareholders that the Bank will undertake a slew of measures to drive further growth, including launching new portfolios and plugging operational loopholes. “Digital transformation of the Bank is our top priority, for which we have already launched new initiatives, including comprehensive protection against cyber fraud,” he said. He added that the Bank would vigorously aim to empower women by introducing dedicated schemes and financial products.
Complimenting the collective efforts of the Board, management, and staff, Mr. Mehdi cited the trust and support of shareholders and customers as the Bank’s backbone. “We are encouraged by the progress made during the year, but our focus now is to build on this momentum and create a stronger, more efficient, and sustainable Bank.”
Interim Managing Director Ishraq Ali Khan shared key performance metrics: Deposits: Grew by 6.42% to Rs 27,000 million. Advances: Increased by 5.54% to Rs 14,650 million. Asset Quality: Gross NPA declined by 15% from Rs 840 million to Rs 710 million. NPA Ratios: Gross NPA and Net NPA stood at 4.84% and 1.44%, respectively. Capital Adequacy (CRAR): Improved to 13.70%, well above the regulatory requirement. CIForeign Exchange Business: Recorded a robust 42% growth, reaching Rs 128,960 million.
Responding to queries about the Bank’s turnaround, Khan noted, “The improvement in profitability and asset quality is the result of focused efforts in recovery, prudent lending, better financial management, and greater operational efficiency.”
Khan assured shareholders and customers that the Bank will continue to strengthen its digital capabilities, cybersecurity, and customer service while maintaining financial discipline as stated by the bank’s Chairman.
