Rajasthan based Jaipur Central Cooperative Bank organized its 72nd Annual General Meeting on Saturday last week, where it was revealed that the bank has earned a gross profit of Rs 30.17 crore in the 2022-23 FY, the highest in the history of the bank.
The meeting was presided over by the bank administrator and Jaipur District Magistrate Prakash Rajpurohit. The bank has performed well on all the financial parameters in the 2022-23 FY. The business mix of the bank increased from Rs 2,085 crore (2021-22) to Rs 2,304 (2022-23) crore.
The deposits of the bank grew from Rs 1,147 crore to Rs 1,193 crore whereas loans and advances rose from Rs 938 crore to Rs 1,111 crore as on 31st March 2023.
Reacting to the bank’s annual report, the bank Managing Director M L Gurjar said, “We have performed well on all the financial parameters and registered growth year after year in our business.”
We have achieved a growth of 10-15 percent in the 2022-23 FY in comparison to last FY 2021-22, Gurjar added. We will focus on loan diversification with an objective to reach more customers and achieve more businesses, he said.
The trial of a mobile application is also going on and we are hoping that it will be launched in a couple of months. We are focusing on technology upgradation. The branch expansion is also in the pipeline”, he added.
During the AGM, the bank announced a dividend of 1.10 percent for its shareholders. The bank earned a net profit of Rs 7.51 crore as on 31st March 2023. Earlier i.e. 2021-22, it was Rs 6.03 crore. The net NPA of the bank remains ‘Zero’ whereas gross NPA stood at 1.87 percent.
The meeting was attended by Jaipur District Milk Producers Union Chairman Omprakash Poonia, Rajasthan State Cooperative Bank Managing Director Bhomaram, Manoharpur Gram Seva Sahakari Samiti Chairman Khemchand Yadav, Suganchand Kapuriya, Tarachand Chaudhary and others.
