The financial year 2018-19 for Janaseva Sahakari Bank Pune was fairly good as its deposits increased and its NPAs reduced slightly. Meanwhile, the bank has moved to the spacious self-owned Head office building this year.
The new office was inaugurated by Union Minister Nitin Gadkari on February this year. The 7 storey structure having approximately 50,000 sq ft area is built on a green building concept which is eco-friendly and modern.
Talking to Indian Cooperative soon after the AGM, the bank Chairman CA Pradeep Jagannath Jagtap said, “The Bank has crossed Rs 3100 crore mark comprising of Rs 2000.21 crore deposits & Rs 1129.69 crore of advances. It is noteworthy that the growth in advances is without CBLO. Earlier, the deposits were Rs 1795.67 crore & advances were Rs 1255.68 crore”, he informed.
“In the current financial year, we are aiming to focus on Small Finance Retail Banking and to maintain the NPA at Zero level till the end of the current financial year”, Jagtap underlined.
The Net NPA of the bank decreased from 2.89% to 2.55%.
The net profit of the bank has slightly reduced in 2018-19 FY. The bank earned a net profit of Rs 12.09 crore and earlier it was Rs 15.36 crore. “There is up and downs in the banking industry so profit is not constant”, the bank Chairman added.
Besides, the paid-up capital of the bank has recorded a rise of Rs 51 lakh. The paid-up capital has now become Rs 49.65 crore. As on 31st March 2019 bank’s own funds are Rs 177.73 crore. CRAR is at 16.59%, these figures were revealed during the 47th Annual General Meeting of the bank held at Pune last Saturday.
The bank has recommended 9 percent dividend for the financial year 2018-19 for its shareholders.
In the last financial year, the bank had organized a program at Madhav Sabhagruha, Market Yard to felicitate employees’ wards of 10th and 12th standards. 46 students attended the program.