Central Cooperative Bank Baramulla Achieves Major Turnaround

By Majid Sheeri

CEO Mr. Muzafar Sultan Receives Best Performance Award from Lieutenant Governor in 2023 Also NABARD Recognized Bank's Excellence in 1999 and 2000.

Central Cooperative Bank Baramulla, one of North Kashmir’s oldest financial institutions, has made a significant turnaround in 2024, bouncing back from years of financial struggles. A series of reforms and strategic leadership changes have boosted the bank’s profitability across its 35 branches, improved customer satisfaction, and reduced Non-Performing Assets (NPA).

This comes as CEO, who was honored with a Best Performance Award by the Lieutenant Governor in 2023, spearheaded efforts to revitalize the institution alongside Liaison Officer Muhammad Rajab and Deputy Executive Manager Mohammad Hafeez and other senior officers to prominent posts.

For years, Central Cooperative Bank faced profitability issues and internal management challenges. Concerns about alleged corruption had caused public trust to wane. In response, the CEO launched a thorough investigation, resulting in the suspension of several employees and reinforcing a zero-tolerance policy toward misconduct.

Staff restructuring including new and energetic Branch Heads and  Customer feedback highlights the bank’s renewed focus on customer service, with many now reporting higher levels of satisfaction. This shift has revived faith in the bank’s commitment to its account holders and the community.

Loan recovery efforts have also strengthened the bank’s financial position, significantly reducing NPAs and creating a stable foundation for future growth. Customers and account holders now view the bank as a reliable partner, ready to meet their financial needs.

Central Cooperative Bank’s resurgence adds to its storied history, which includes past recognition by NABARD as the top-performing bank in J&K in 1999 and 2000. Looking forward, the bank aims to build on this success, with profitability, transparency, and community commitment as core priorities for continued growth.