Rajkot Nagrik Sahakari Bank performs well; earns profit of Rs 146 crores

Gujarat’s leading urban co-op bank and one with which the name of Nafcub President Jyotindra Mehta always comes to mind, Rajkot Nagarik Sahakari Bank has performed impressively by crossing the business mix of more than 9000 crore and earning a profit of Rs 145.94 crore in the 2022-23 financial year.

The deposits of the Bank increased from Rs 5,295 crore (2021-22) to Rs 5,783 crore whereas advances grew from Rs 3,009 crore to Rs 3,359 crore as of 31st March 2023. The business mix stood at Rs 9,142 crore, with an overall 10 percent rise.

A press release sent to the Indian Cooperative reads “In the mess of global recession, Rajkot Nagrik Sahakari Bank has reported promising upshots for the financial year 2022-23. The Bank’s Chairman Shaileshbhai Thaker and Vice Chairman Jimmybhai Dakshini have stated that the year ending on 31st March 2023, the bank earned a profit of Rs 145.94 crore”.

“This is the second consecutive year, when the bank has maintained zero NPA status. In addition, on this occasion of ‘Azadi Ka Amrit Mahotsav’, the RNSB has strengthened the trust of the people by adding 51,000 new customers to the bank’s kitty of clients in tune with its motto ‘ ‘small man’s large bank”, the press release added.

The first multi-state scheduled bank of Saurashtra-Kutch, Rajkot Nagarik Sahakari Bank Ltd. has a network of 38 branches, two extension counters, two offsite ATMs including 4 branches in Maharashtra. A huge family of more than 3 lakh shareholders, the bank has been giving insurance cover of Rs 1 lakh to its members.

The press release claims, “The Bank’s Platinum ATM card has become popular among the cardholders and can be used for e-com transactions at ATM-POS across the country and online platforms. NET and RTGS can be done at home through the bank’s mobile application”.

A number of account holders are taking advantage of BBPS for utility bill payment and UPI. ATM-CDM (Cash Deposit Cum ATM) is operational in various branches, so that a member can deposit or make withdrawals 24 hours 365 days.

Moreover, the maximum number of holders are using its ASBA facility for IPO. The bank’s manoeuvres have always been at the vanguard not only on a professional basis, but social responsibility too, the press release further added.

The Bank’s CEO and General Manager Vinod Kumar Sharma has heartily thanked the entire bank family, the Board of Directors, Branch Development Committee members, Delegates, large customer base, member families and its sincere employees for such excellent results.