The leading bank of Maharashtra-Kalyan Janata Sahakari Bank has performed satisfactorily in the 2021-22 financial year. The bank not only succeeded in growing its deposits but also earned a handsome profit in the fiscal.
The bank is entering this year into the golden jubilee year on 23rd December 2022 and will hold scores of events to mark the journey. The information and figures were shared during the 49th Annual General Meeting of the bank held last week with great enthusiasm.
“Due to the covid-19, aftershocks the bank advances slightly declined which impacted its business mix. The deposits of the bank grew from Rs 3,188 crores (2020-21) to Rs 3,206 crores in 2021-22 whereas loans & advances saw marginal decrease from Rs 1,991 crores to Rs 1962 crores as of 31st March 2022, the business mix stood at Rs 5,168 crore”, said its CEO Atul N Khirwadkar while talking to Indian Cooperative correspondent on the phone.
The bank decided to focus on maintaining and mobilizing deposits to the tune of Rs 3500 crores and advances to the tune of Rs 2250 crores according to the statement made in the annual report.
The bank has proposed a 7 percent dividend for the shareholders for the year 2021-22. It was announced during the meeting that the bank has got permission to open a branch at Surat which has been awaiting permission for a long time and it will be opened within a few months.
During the year, the bank’s share capital stood at Rs 103.75 crores. The bank’s CRAR as of 31.03.2022 is 11.75 percent and its own funds at the end of the year are Rs 204.87 crores.
Besides, the bank’s performance in containing the NPA level is satisfactory and the gross and net NPA is 5.13% and 3.27% percent as of 31st March 2022. Kalyan Janata Sahakari Bank has 45 Onsites ATMs of which 27 are cash recyclers.
The bank has also been given the 1st Prize in a large cooperative banks’ group as the best bank for the year 2020-21.