Himachal State Cooperative Bank Achieves Record Profit of Rs 307 Crore in 2024-25, NPA Falls to 0.26%
Shimla, April 3: The Himachal Pradesh State Cooperative Bank (HPSCB) has reported an impressive performance for the financial year 2024-25, achieving a net profit of Rs 307 crore. The bank’s Chairman, Devendra Shyam, revealed these figures during a press conference held in Shimla, highlighting the bank’s steady growth and the positive impact of its customer-centric initiatives.
In his address, Shyam emphasized the bank’s consistent performance, particularly in its role as a key financial institution serving the state’s residents. He noted that the bank has seen substantial business growth, demonstrating a robust financial standing and a commitment to serving its customers effectively through various innovative schemes.
Success of Women and Student-Oriented Schemes
A standout achievement for the bank has been its focus on empowering women and students through targeted financial schemes. The ‘Sashakt Mahila Loan Scheme,’ launched to support women’s entrepreneurship and financial independence, has proven to be highly successful. Under this scheme, the bank has disbursed loans worth approximately Rs 100 crore to over 39,500 women customers, enabling them to pursue their business or personal goals.
The ‘Sapno Ka Sanchay’ scheme, aimed at school students, has also received tremendous response. So far, more than 10,000 children have enrolled in this initiative, and collectively, they have deposited over Rs 10 crore to secure their future. This initiative has garnered significant appreciation, as it encourages financial literacy and savings habits among the younger generation.
Declining NPA and Future Goals
One of the most notable achievements highlighted by Shyam is the sharp decline in the bank’s non-performing assets (NPA), which has dropped to just 0.26%. This marks a significant improvement from previous years and demonstrates the bank’s improved financial management practices. With a clear goal in sight, the bank aims to reduce its NPA to 0% in the next financial year. This ambitious target reflects the bank’s determination to operate with no bad loans, further enhancing its reliability and trustworthiness.
Expanding Reach and National Recognition
The Himachal Pradesh State Cooperative Bank operates across six districts in the state, with a network of 262 branches providing services to residents, particularly in rural and semi-urban areas. Shyam noted that the bank’s efforts to roll out schemes that specifically benefit women and youth have not gone unnoticed. In fact, these initiatives have earned the bank national recognition in the category of cooperative banks, highlighting its role as a progressive financial institution in the country.
Shyam expressed confidence that the bank will continue to build on its success in the years to come. He reiterated the commitment to strengthening the bank’s services, ensuring that it remains a reliable and trusted partner for the people of Himachal Pradesh. The bank’s focus on transparency, customer satisfaction, and innovation are expected to help it retain its leadership position in the cooperative banking sector.
As the bank looks ahead, its target to become a model of financial stability and customer service sets the stage for even more achievements in the future. With its strong financial health, successful schemes, and focus on reducing NPAs, Himachal Pradesh State Cooperative Bank is poised to remain a pillar of support for the state’s economic growth and financial empowerment.
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