Archive · 8 Sep 2026
Coastal Bank Gains Scheduled Status After 26 Years
Coastal Local Area Bank has received an important new status from the Reserve Bank of India.
This means the bank is now officially recognized as a scheduled bank.
The bank has been serving customers for 26 years.
It is headquartered in Vijayawada and has 57 branches.
At the end of FY 2025-26, it had deposits of Rs 994.72 crore and loans of Rs 910.05 crore.
The bank also reported a net profit of Rs 19.30 crore.
Its low net NPA and strong capital ratio were highlighted in the announcement.
The bank says the new status may improve customer confidence and access to RBI facilities.
The Reserve Bank of India granted Scheduled Bank status to Coastal Local Area Bank Limited.
The Vijayawada-headquartered bank has provided banking services for 26 years.
At the end of FY 2025-26, deposits were Rs 994.72 crore and advances were Rs 910.05 crore.
The bank reported a net profit of Rs 19.30 crore, net worth of Rs 198.08 crore and net NPA of 0.21 per cent.
Coastal Bank operates 57 branches across 12 districts and has approval for 13 more branches in three districts.
- Who
- Coastal Local Area Bank Limited, led by Managing Director and CEO B Venugopal Reddy.
- What
- The bank received Scheduled Bank status from the Reserve Bank of India.
- When
- The announcement refers to the end of FY 2025-26 and says the bank has operated for 26 years; it does not provide a specific announcement date.
- Where
- The bank is headquartered in Vijayawada and operates across 12 districts.
- Why
- The status recognizes the bank’s financial strength, governance and regional banking record, while potentially improving access to money market operations and RBI liquidity facilities.
- Bank
- Coastal Local Area Bank Limited
- Headquarters
- Vijayawada
- Deposits
- Rs 994.72 crore at the end of FY 2025-26
- Advances
- Rs 910.05 crore at the end of FY 2025-26
- Net profit
- Rs 19.30 crore
- Net NPA
- 0.21 per cent
- Branch network
- 57 branches across 12 districts
- Expansion approval
- 13 additional branches in Vizianagaram, Prakasam and Khammam districts