After a stellar performance in the Financial Year 2023-24, Cosmos Co-operative Bank has announced a bonus of one month’s salary for its 2800 employees. The bank reported doing business worth Rs 35,408 crore by March 31, marking a 15.16% increase from 2023. Deposits grew by Rs 2,587 crore, reaching Rs 20,216 crore, while advances rose by Rs 2,075 crore, totaling Rs 15,192 crore. Net profit for the year stood at Rs 384 crore, significantly higher than the previous year’s Rs 181 crore.
In an interview with the Times of India, Cosmos Bank Chairman Milind Kale highlighted the resilience of the employees, recalling how their morale was impacted by a cyberattack five to six years ago. Despite the challenges, the staff managed to keep the bank operational. Recognizing their dedication and hard work, the bank’s board decided to award the bonuses.
In the world of Co-operative Banking, The Cosmos Co-operative Bank Ltd. holds the record of 118 years of service to its more than 20 lakh satisfied customers through 170 branches in 7 States and in 42 Major Cities. All Branches, extension counters, all regional offices and head office are interconnected through the Data Center situated at Head Office.
