In 2015-16, the bank's business stood at Rs 1,405 crore.
"Growing steadily at 38 per cent per annum, the bank recorded an increase in the number of its customers also, while accumulating aggregate deposits of Rs 805 crore and advances of Rs 600 crore. The bank is hopeful of crossing Rs 1,700 crore business at the end of current financial year," it said in a statement.
Shivalik Mercantile Co-operative Bank, MD and CEO, Suveer Kumar Gupta said that the firm is employing modern technology to reduce transaction time.
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