Despite challenges facing the banking Industry, TJSB has had an excellent performance across parameters in the outgoing financial year. The UCB’s Annual Audited Financial Results show that the bank’s business mix stands at Rs 16,360 crore comprising of deposits of Rs 10,700 crore and Advances of Rs 5,660 Crore. The bank registered a growth of 6.65 % in the business mix.
The UCB is gross profit rose to Rs. 223 crore from the last year’ Rs 202 crore and Net Profit stood at Rs. 141 crore, again registering a rise of more than Rs 15 crore despite adverse market conditions. Though the business growth is 6.65%, the bank’s Net Profit registered a growth of 11.90%.
The bank’s Gross NPA is at Rs. 265 crore (4.67%) as against the last year’s Rs. 259 crore (4.75%). The bank’s Net NPA is at 0.19% as against the last year’s 0.22 %. The bank’s CRAR is at 15.23% as against the last year’s 14.20 %.
Talking about the successes the bank chairman C. Nandagopal Menon said the UCB has become strong enough to grab the market opportunities in the years to come. In 2019-20 the bank will look for an inorganic growth through mergers and takeovers, he said.
The bank could achieve these milestones only because customers, shareholders, well-wishers and of course the TJSB team extended their whole hearted support to the bank, the chairman remarked.
TJSB will complete its 50 years in 2022 and has kept a vision of achieving a business-mix of Rs. 25,000 crore through 200 branches.
The MD & CEO of the bank Sunil Sathe made comments echoing the views of the chairman.”