Amid the Coronavirus outbreak, Maharashtra based Pune District Central Cooperative Bank has earned a gross profit to the tune of Rs 273.26 crore in the FY 2019-20, announced its Chairman Ramesh Thorat.
Earlier in 2018-2019, the gross profit of the bank was Rs 220 crore. It is to be mentioned here that the bank has done well across all the parameters whether it is deposits, loans and advances or earning profit.
It is noteworthy that several DCCBs across the country are grappling with the increasing number of NPA but this year also Pune DCCB registered Zero Net NPA.
Maharashtra Deputy Chief Minister Ajit Pawar, Maharashtra Labour Minister Dilip Walse Patil and Dattatray Vithoba Bharne Maharashtra Cabinet Minister of State are also on the board of Pune DCCB.
“The total business mix of the bank has reached up to Rs 16,935.67 crore. The paid-up share capital of the bank is Rs 316.09 crore. The bank has solicited deposits of Rs 10,097.68 crore. The bank has made Investment of Rs 5096.59 crore and the Net Worth of the bank is Rs 806.36 crore. The CRAR of the bank is 12.55%”, Thorat said while disclosing the figures.
During the year the borrower societies, PACS and farmers have repaid their dues on time. The bank has disbursed credit to sugar factories, credit societies and individual borrowers to the tune of Rs 6837.99 crore. Presently, the bank is having more than 10k as its members”, he said.
However, the chairman of the bank was a little disappointed and said, “The bank is still holding the demonetized Specified Bank notes (SBN) of Rs 500 and Rs 1000 to the tune of Rs 22 Crore. As RBI has not accepted yet the same and the bank is facing adverse situations and challenges. But, in spite of these adverse situations, the bank has recorded its highest Gross Profit”, he said proudly.
Thorat extended thanks to customers, depositors, farmers, well-wishers for reposing their utmost confidence and faith in the bank. The latter has acquired the faith of the people both in urban & rural areas and will maintain the same forever.
The bank has fulfilled all the financial requirements of the rural sector, entrepreneurs and salaried people and is playing a vital role in the development of the rural economy.
The bank is mainly financing agriculture and allied activities, women’s Self Help groups and common & low income group people.
Similarly, the bank has created a strong network of cooperatives in Pune district with the dedicated efforts taken for the development of the agriculture and allied activities; so as to bring about an improvement in the life of agriculturists.
Bank has 290 branches across the Pune District.
