Maharashtra based multi-state Scheduled Bank Kalyan Janata Sahakari Bank has organized its 47th Annual General Meeting last week through video conferencing, in which the bank management presented the Annual Report.
The Annual Report revealed that the business mix of the bank in the financial year 2019-20 has slightly decreased but its deposits have increased even in the wake of the Corona pandemic.
Sharing the audited report with Indian Cooperative Kalyan Janata Sahakari Bank CEO and General Manager Atul Khirwadkar said “The business mix of the bank decreased from Rs 5,175 crore to Rs 5,086 crore as on 31st March 2020 but the total deposit of the bank increased from Rs 3,043 crore to Rs 3,129 crore in the 2019-2020 financial Year.
When other Corporates are grappling with the impact of Covid-19 on their business, there is a very slight impact on the business of the bank. But we are striving to meet the challenges being posed by the coronavirus, underlined the high-profile CEO.
Due to the lockdown in March, recovery was not made from the borrowers, there is a slight impact on Advances. As on 31st March 2020 the total advances of the bank stood at Rs 1,957 crore ”, he informed.
Khirwadkar further said, as per the audited reports the bank has earned a net profit of Rs 19.07 crore in the 2019-2020 financial year and the net worth stood at Rs 210 crore as on 31st March 2020. The Capital to Risk Assets Ratio (CRAR) is 12.51 percent.
The Net NPA of the bank 2.83 percent as on 31.03.2020 and the gross NPA of the bank 5.19 percent as on 31.03.2020. 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.
The Kalyan Janata Sahakari Bank is one of the renowned Urban Co-operative Banks having a network of 42 branches in different states.
