Omprakash Deora Peoples’ Cooperative Bank has told its 37th AGM that it has performed well in all field this fiscal. The UCB is one of the multi-state banks in Maharashtra and has remained free of any controversy or negative news so far.
The Gross NPA of the bank has decreased from 5.49% to 5.40% whereas the Net NPA reduced from 1.45% to 0.95% as on 31st March 2019.
Talking to Indian Cooperative correspondent soon after the AGM, the bank CEO Kishore Joshi said, “As on 31st March 2019 our business mix stood at over Rs 1,070 crore but we are aiming to reach the business mix of around Rs 1,150 crore till the end of the current financial year”.
“Our deposits have risen from Rs 643.05 crore to Rs 678.36 crore but we are planning to achieve a deposit base of Rs 750 crore as on 31st March 2020. Our advances are Rs 401.28 crore but we will reach up to Rs 420 crore at the end of the current FY”, he asserted.
Besides, the bank reserves increased from Rs 79.02 crore to Rs 78.53 crore. Owned funds rose from Rs 94.21 crore to Rs 94.60 crore.
The bank’s profits have risen earning a gross profit and net profit of Rs 7.05 crore and Rs 3.60 crore respectively. Earlier it was Rs 7.24 crore and Rs 3.26 crore.
The working capital of the bank also registered a growth increasing from Rs 758.58 crore to Rs 803.24 crore.
The bank had not opened branches during the last financial year but it has a network of 28 branches across Maharashtra and Telangana. “We have applied for more branches and are still waiting for RBI’s approval”, Joshi said.
Over 300 delegates attended the AGM. 19,249 shareholders are associated with the bank. CRAR increased from 15.98% to 17.08%.
