Uttarakhand based Almora Urban Cooperative Bank recently organized its 31st Annual General Meeting where it was revealed that the bank business crossed more than Rs 4300 crore in the 2021-22 FY. The bank set a target to achieve a business mix of more than Rs 5k crore in 2022-23.
The bank has announced a plan to give a 10 percent dividend to its shareholders for the year 2021-22. The Almora UCB performed well on almost all the parameters.
The business mix of the bank increased from Rs 4,170 crore in the 2020-21 FY to Rs 4,331 crore in the 2021-22. The deposits of the bank rose from Rs 2,938 crore to Rs 3,032 crore whereas loans & advances hiked from Rs 1232 crore to Rs 1299 crore as on 31st March 2022.
The good thing is that the bank maintained the tradition of having ‘Zero’ net NPA. The CRAR of the bank stood at 31.43%. The net worth and share capital stood at Rs 565.41 crore and Rs 28.86 crore as on 31st March 2022.
During the meeting, it was informed that the bank deposited advance income tax of 17.04 crore in the financial year 2021-22. The bank is providing modern facilities to the customers through 50 branches and 26 ATMs in Uttarakhand.
The bank earned a net profit to the tune of Rs 16.64 crore as on 31st March 2022. Earlier i.e. 2020-21 it was Rs 28.76 crore.
It bears recall that it is the first bank in the cooperative sector of Uttarakhand, which is a direct member of National Payment Corporation of India (NPCI). The bank is providing modern banking facilities to the consumers.
On this occasion, the bank Chairman CA Mahendra Chandra, Vice-Chairman Vasudha Panth, Director Surendra Prasad, CEO P C Tiwari, Deputy General Manager B S Mehta and others were present.
