The Maharaja Co-operative Urban Bank Ltd. has set its sights on transitioning into a Small Finance Bank, marking a significant strategic evolution for the urban cooperative institution. Members approved the proposal at the bank’s 26th Annual General Meeting, held on Friday at Kshatriya Kalyana Mandapam in Seethammadhara.Founding chairman M. Ramakrishnam Raju announced robust financial milestones for the 2025–26 fiscal year. As of March 31, 2026, the bank registered a total business volume of ₹612.55 crore, backed by ₹374.22 crore in deposits and ₹238.33 crore in loans.The institution posted a gross income of ₹2.32 crore for the year. After paying ₹0.60 crore in income tax, the net income stood at ₹1.72 crore. Reinforcing its financial health, the bank reported a capital base of ₹17.66 crore alongside reserves and provisions totaling ₹17.35 crore, elevating its net worth to ₹32.28 crore. Furthermore, the board declared a 10% dividend for shareholders.Strong momentum has carried into the current fiscal year. Management noted that as of July 28, 2026, total deposits climbed to ₹384 crore and loans reached ₹238 crore, pushing the aggregate business volume to ₹622 crore. Buoyed by this growth, the bank has outlined an ambitious target to touch ₹700 crore in total business by March 31, 2027.Expanding its operational footprint, the bank launched new branches in Narsipatnam, Vijayawada, and Ramachandrapuram over the past year, and plans to inaugurate two more branches soon. Demonstrating community commitment, the bank awarded approximately ₹8 lakhs in scholarships to the children of staff members.The meeting drew several prominent figures, including RERA Member and Federation Director M. Venkata Ratnam, Pochampally Co-operative Urban Bank CEO Seetha Srinivas, Paida Group Chairman Paida Krishna Prasad, Jalavihar Group Chairman N.V. Rama Raju, Retired PF Commissioner S.V.S.S. Rama Chandra Raju, and Balaji Group Chairman Mandava Ravi Kumar, General Manager N.N. Satyanarayana said in a release here. Published - July 31, 2026 11:46 pm IST