The Visakhapatnam Cooperative Bank Ltd. (VCB) has declared a dividend of 10% for the 2025-26 financial year, bank Chairman J.V. Satyanarayana Murthy announced during the bank’s General Body Meeting held at the VMRDA Children’s Arena in Siripuram here.

Addressing the members, Mr. Murthy said that the total dividend pay out for the year stands at ₹39.24 crore, with the remaining profits to be allocated to various accounts in compliance with statutory requirements.

Reflecting on the bank’s performance during the 2025-26 fiscal year, the Chairman reported significant growth across key financial metrics. The bank achieved a 5.52% increase in deposits, which rose by ₹240.24 crore to reach ₹4,594.97 crore. Loan disbursements saw a stronger uptick of 12.83%, reaching ₹3,877.42 crore—an increase of ₹440.95 crore. Consequently, the bank’s total business grew by 8.74%, touching ₹8,472.39 crore.

The bank recorded a net profit of ₹66.15 crore for the year ending March 31, and currently serves a membership base of 117,884 across its network of 60 branches. The bank’s share capital has now reached ₹416.25 crore.

Looking ahead, Mr. Murthy announced an aggressive expansion strategy in line with the latest Reserve Bank of India (RBI) regulations. The bank plans to open eight new branches this year, aiming to expand its footprint to a total of 68 branches. These new outlets are planned for Nandyal, Annamayya, Sathya Sai, Markapuram, and Visakhapatnam, along with expansions into Warangal and Khammam in Telangana, and the state capital region.

Furthermore, the bank is actively examining proposals for the merger of the Swasakthi Mercantile Bank (Vijayawada), Mahila Cooperative Bank (Guntur), and Saluru Cooperative Bank. Infrastructure development is also a priority, with construction currently underway for a new branch in Gajuwaka and a zonal office-cum-branch building on the bank’s own premises in Patamata, Vijayawada.

During the meeting, Vice-President Chalasani Raghavendra Rao addressed queries and suggestions from the consultative committee members. The assembly also formally approved resolutions, proposed by directors including V. Chandrasekhar and C. Krishna Mohan, condemning the 97th Constitutional Amendment.

The event saw the participation of former bank president Manam Anjaneyulu, CEO V.V.B. Varalakshmi, various board directors, senior officials, and branch representatives.