Maharashtra based Kaijs Bank crossed the business mix of more than Rs 4000 crore and earned a gross profit of Rs 51 crore in the 2022-23 FY. As of 31st March 2022, the deposits of the bank stood at Rs 2400 crore and advances at Rs 1600 crore. Besides, the share capital of the bank has increased to 67 crores.
Talking to journalists the bank Chairman Swapnil Awade informed, “The bank earned a gross profit of Rs 51 crore, which is highest in the history of the bank”.
“To curb inflation, the Reserve Bank of India increased the repo interest rate by more than 2.50% in 2022-23, and all banks increased interest rates on deposits and loans. Even in such a difficult situation, the bank has maintained its progress up to a satisfied level”, he added.
Besides, the Gross NPA & Net NPA is 9.34% and 4% respectively, which is very low as compared to previous year.
The Chairman further said, “According to the new policy of the Reserve Bank, it has been made mandatory to make 50% of the loan within Rs 25 lakhs and it has been instructed to provide the said loan till March 2024. Keeping this policy in mind, the bank has launched various loan schemes for small entrepreneurs, businessmen, small businesses, construction professionals to increase the small loan accounts”, he informed.
He further noted “The bank was able to make the desired progress only because of the trust of the depositors on the bank, timely repayment of loans by the borrowers even in difficult circumstances and the dedicated efforts of the directors, officers and employees of the bank”.
The bank has a network of 44 branches.
On this occasion, the bank’s Vice-Chairman CA Mr. Sanjay Kumar Anigol, Chairman of BOM CA Mr. Chandrakant Chougule, Mahesh Satpute, CEO Sanjay Shirgave, General Manager Kiran Patil and others were present.
