The Kangra Co-operative Bank is the largest co-operative Bank of Delhi. It has reported net profit of Rs.12 crore for 2011-12, registering 66 % growth over previous fiscal.
The Bank has not only been able to retain its existing customers but has also added new customers. It has registered a net growth of more than 4.75% in its customer base.
Talking to Indian Cooperative, Attar Chand Parmar, MD of the Bank said that during last year there had been a great demand of loans from the customers but the Bank had to turn down plenty of requests to maintain the mandatory CD ratio of 70%.
In order to meet the loan requirements of the customers while also maintaining the maximum allowed CD ratio of 70%, special efforts are being made to mobilize more deposits. The Bank has increased borrowing rates very recently and made them very competitive.
The Bank has successfully been able to increase its deposits and loans by 16.75 % and 18.34 % respectively during the previous financial year 2011-12.
The Bank has also been able to reduce down both gross and net NPA; which has come down to 5.07% and 0% from 6.20 % and 0.32% respectively.
The CRAR of the bank has also been remained above 15% by showing marginal increase of 0.42% over previous year.
He further said that the Board of the Bank has taken a conscious decision to increase the saving bank interest rate to 5 % for amount up to Rs.1 lac and 6% for amount above one lac which will help the Bank to increase CASA deposits .
The Bank has been paying 18 % dividend continuously for the last three years and the management is likely to propose 18% dividend this year too in the ensuing AGBM for its approval which has been scheduled for September 2.
The Bank is introducing RTGS and NEFT facilities at its own within next two months.
MD further added that continues and steady growth of the Bank has been due to the sincere efforts being done by the staff. The strategic planning and useful guidance of the Board of Directors which is among others represented by Shri B R Sharma, professional Director and Ex-MD of the Bank have helped the bank.
Mr Sharma has been associated with the Kangra Bank for more than five decades and has been instrumental in bringing the Bank to its present status from a small T&C society of yester years. Above all, the able guidance of Chairman Shri Laxmi Dass with rich experience in varied fields of life has brought us to glorious heights, Mr Parmar added.
