Despite adverse market conditions, Uttarakhand based Udham Singh Nagar District Central Cooperative Bank has registered growth on all the financial parameters in the 2020-21 financial year. The bank has crossed the deposit base of Rs 1,000 crore.
“The deposits of the bank increased from Rs 964.31 crore to Rs 1061.97 crore whereas loans and advances rose from Rs 633.72 crore to Rs 755.54 crore in the 2020-21 financial year. As on 31st March 2021, the bank’s total business stood at Rs 1,816 crore”, according to the financial figures shared by the bank with Indian Cooperative.
Besides, the bank has also performed well on controlling the NPA levels. The Net NPA of the bank came down from 2.46 percent to 1.45 percent and Gross NPA decreased from 6.30 percent to 4.73 percent as on 31st March 2021.
Udham Singh Nagar DCCB has earned a net profit to the tune of Rs 7.05 crore. Earlier in the 2019-20 FY the bank’s net profit was Rs 6.68 crore. The CD ratio of the bank stood at 71.15 lakh. The reserves and surplus of the bank increased from Rs 189.16 crore to Rs 203.04 crore and share capital rose from Rs 26.69 crore to Rs 28.37 crore in 2020-21 FY.
Giving his comment on the financial report of the bank Yogendra Kumar Rawat, officiating Chairman, Udham Singh Nagar DCCB said, “This is only possible due to the efforts of employees and others who work day and night to take the bank to the newer heights. Even during Covid-19, they have worked restlessly”.
“At present the bank has a network of 33 branches providing services to scores of Multi-Purpose Private Agriculture Cooperative Societies. But we are in the process of opening five branches at Chakarpur, Diyuri, Nanakmatta, Mahuakhera Ganj and Narayan Nagar in a couple of months”, Rawat added.
He further said, we will work on the government schemes so that they can be taken to the grassroots level. We are committed to serve the needy and farmers.
Readers would recall that recently the bank drew the media attention when it provided financial assistance of Rs 1 Lakh to the family of the bank employee Ram Shankar, who had died of Covid-19.