The leading cooperative bank of Maharashtra-Pune District Central Cooperative Bank earned a gross profit of Rs 351 crore in the 2022-23 financial year. Besides, the Bank has succeeded in maintaining the Net NPA level at ‘Zero’.
The business of the Bank as on 31st March 2023 stood at Rs 19,455 crore.
Maharashtra’s former Deputy Chief Minister and the Bank Director Ajit Pawar revealed the figures. The deposits of the bank grew from Rs 11,389 crore (2021-22) to Rs 11,481 crore as on 31st March 2023 whereas loans and advances grew from Rs 7566 crore to Rs 7974 crore in the 2022-23 FY.
The bank earned a net profit of Rs 70.70 crore, which is highest in comparison to previous financial year i.e. 2021-22. The gross NPA of the bank also reduced from 4.76 percent to 4.51 percent.
The net worth and investments stood at 1023 crore and 7792 crore as on 31st March 2023 respectively.
Besides, the bank purchased a 35,000 square feet plot of Bhuvikas Bank at a market yard worth Rs 26.71 crore for setting up a training center.
The bank has fulfilled all the financial requirements of the rural sector, entrepreneurs and salaried people and is playing a vital role in the development of the rural economy.
The bank is mainly financing agriculture and allied activities, women’s Self-Help groups and common & low-income groups of people.
Similarly, the bank has created a strong network of cooperatives in the Pune district with dedicated efforts for the development of agriculture and allied activities; so as to bring about an improvement in the life of agriculturists.
The bank has 294 branches across the Pune District.