Amid a surge in Coronavirus, when the entire banking industry in the country is facing a problem of considerable increase in NPAs, the first largest Urban Cooperative Bank of Gujarat- Kalupur Commercial Cooperative Bank has once again maintained the tradition of Zero net NPA for 2019-2020 financial year.
The Net NPA remains Zero and Gross NPA declined from 2.94 percent to 1.53 percent as on 31st March 2020. Jubilant with the bank performance, bank Chairman Navnitbhai Patel said, “We have performed well on all financial parameters in 2019-20 FY. When other banks are grappling with the aftershock of Covid-19, our bank has succeeded in achieving the net profit of Rs 128 crore”.
He further said, even in lockdowns several of our borrowers have repaid their loans and interest amount. We have decreased the interest rate on a few loans for attracting the customers and efforts being made to achieve the targets at the end of current financial year”, he underlined.
Besides, the total business of the bank increased from Rs 11,616.15 crore to Rs 12,755.27 crore as on 31st March 2020, said Patel to Indian Cooperative on the phone.
“Despite unfavourable market conditions, total deposits of the bank increased from Rs 6,939.35 crore as on 31.03.2019 to Rs 7,837.03 crore as on 31.03.2020 whereas total loans & advances increased from Rs 4676.80 crore as on 31.03.2019 to Rs 4918.24 crore as on 31.03.2020”, he said while reeling off the figures.
The bank has earned a net profit of Rs 128.5 crore. Earlier it was Rs 122.72 crore. As on 31st March 2020, the CRAR of the bank stood at 17.60 percent. The Share capital of the bank increased from 91.55 crore to Rs 94.45 crore.
The bank has 59 branches in different states. Out of 59 branches, 41 branches have crossed business mix of Rs 100 crore, of which 23 branches have crossed business mix of Rs 200 crore. 28 branches have deposits above Rs 100 crore and 9 branches have advances above Rs 100 crore.
Under the Atmanirbhar Gujarat Sahay Yojna, the Bank has disbursed up to 150 crore to over 7k beneficiaries. Bank has called its Annual General Meeting on 2nd November 2020 through video conferencing.
Readers would recall that bank has given donation of Rs. 1,19,79,000 during the year 2019-20 to 14 organizations like Chief Minister Relief Fund Gujarat State for COVID-19 pandemic Rs. 1,11,00,000, Indian Red Cross Society, Sadvichar Parivar, Gujarat Dardi Lok Kalyan, Bareja Kelavani Mandal, etc.