Maharashtra based Kalyan Janata Sahakari Bank crossed a business mix of more than Rs 5 thousand crore in the financial year 2018-19. The bank’s another achievement has been curbing its NPA decisively, claimed UCB’s officials.
The deposits of the bank rose from Rs 2,814 crore to Rs 3,043 crore whereas loans and advances increased from Rs 2,027 crore to Rs 2,132 crore in the 2018-19 financial year. All these figures are based on the inputs provide by the bank to Indian Cooperative.
Unaudited figures of the 2018-19 financial year are the bank has a business mix of Rs 5,175 crore compared to Rs 4,841 crore in the previous fiscal. The bank has been registering an impressive growth year after year.
It is worth a special mention that the bank has remarkably reduced its NPA. The Net NPA of the bank has come down from 3.76 percent as on 31.03.2018 to 2.35 percent as on 31st March 2019. At the same time, the gross NPA of the bank decreased from 5.71 percent to 3.71 percent as on 31.03.2019.
The bank is continuing its efforts not only to bring down the existing NPA level but also to minimize slippage of new accounts into the NPA category.
As per the unaudited reports, the bank earned a Net Profit of Rs 20.54 crore. Earlier the bank earned a net profit to the tune of Rs 20.29 crore in the 2017-18 FY.