Earning profit for the 6th year, Kota DCCB reins in NPA to 2.47%

Rajasthan-based Kota Central Cooperative Bank earned a net profit of Rs 3.07 crore in the 2021-22 financial year. It was announced in the 96th Annual General Meeting held recently which was presided over by the bank administrator and district collector Omprakash Bunkar.

The meeting was held through video conferencing, in which representatives of village service cooperative societies, purchase sales cooperative societies and other cooperative societies were present.

While presenting the annual report, the bank’s Managing Director Balvinder Singh said, “Kota DCCB has been in profit for the last six years. In 2021-22 FY, the bank’s Gross NPA stood at 2.47 percent, which was the lowest in comparison to last years”.

“Meanwhile, the bank is planning to move its head office into the newly constructed building at Shrinath Puram. A portion of the building has been constructed and full construction will be over in a few months. The next annual general meeting of the bank will be held in the new building”, Singh claimed.

The proposed budget of 54.60 crores for the year 2022-23 was also unanimously passed in the meeting. The area of the new building is about 18,500 sq ft and the total estimated cost of the project would be Rs 3 crore.

On this occasion District NABARD DDM RP Sharma, Deputy Registrar GP Laddha, Additional EO Rajesh Meena, Chief Manager Hemant Samaria, Senior Manager Rajendra Singh and other officers and members of the bank registered their participation.

The bank has 11 branches across Kota and over 148 PACCs are associated with the bank. The Kota DCCB is also providing loans to the farmers at zero rates of interest. The Kota Central Co-Operative Bank Limited, Kota was established on 1 February 1927.