Maharashtra based Kallappana Awade Ichalkaraji Janata Sahakari Bank (Multi-State Scheduled Bank) which is popularly known as Kaijs Bank has announced that the bank has earned a gross profit of Rs 33 crore in the 2020-21 financial year. Amidst Coronavirus, the bank’s business mix increased from Rs 3640 crore to Rs 3,822 crore in the 2020-21 Financial year, adds the release.
“With the incredible belief in the bank and kind cooperation extended by the banks members, customers, depositors and borrowers, the bank could register its sound financials like business-mix as Rs. 3822 crores during the F.Y. 2020-21 even COVID-19 pandemic spread all over India”, says the release.
“The bank is having deposits to the tune of Rs 2291 crore and has disbursed loans upto Rs 1530 crore. Share capital of the bank has reached Rs. 61.25 crore. He said the bank could make progress due to the valuable guidance and kind cooperation of Kallappanna Awade(Dada), Ex-MP and Founder Chairman of the bank”, the statement reads.
It further says that, last year, the whole business sector had been badly affected due to the COVID-19 pandemic spread all over India, which stopped banks from recovering the expected loan amounts provided to the business sectors.
As per the RBI guidelines, banks are compelled to restructure the standard accounts on which the banks had made required provision from profit for these restructured accounts. However, our bank has succeeded in maintaining the gross NPA upto 9% with expected recovery”.
During the current financial year, the bank has shifted its few branches to new locations. Therefore, the Chairman, Prakash Awade requested all the customers in and around these villages to take advantage of all the facilities provided by the bank so as to cater to the needs of the customers effectively and efficiently.
Further, he informed that the Administrative Office situated at Station Road, Ichalkaranji will likely commence its operation soon”.
The bank’s Chairman further expressed his thanks to Vice-Chairman CA Shri Chandrakant Chougule, Director. Swapnil Awade, other Directors, Executives, officials and staff of the bank for their kind support and cooperation extended during this financial year for achieving overall progress of the bank, the statement reads.
