Chennai headquartered Repco Bank has performed well on all the financial parameters for the Financial Year 2020-21 and has declared a dividend of 20% to its shareholders. The bank earned a Net Profit of Rs 61 crore, registering a growth of 9%.
The Bank recently conducted its General Body Meeting on 24.09.2021 wherein the Annual Accounts and Audited Reports were approved. Even during the pandemic hit period, the Bank has exhibited well on all the parameters.
The Business Mix of the Bank stood at Rs 16269 crore as of March 31, 2021. The Total Deposits stood at Rs 8926 crore with a yo-y growth rate of 9% and total Advances at Rs 7343 crore, recording a yo-y growth rate of 5%, as of March 31, 2021, informs a press release from the bank.
The Bank’s Net worth is at Rs 794 crore with a CRAR of 12.77%. The Gross Non-Performing Asset (GNPA) of the Bank has reduced from 9.18% to 8.87% and the Net Non-Performing Asset (NNPA) from 3.51% to 3.14% as of March 31, 2021, with strong recovery efforts.
In tune with the primary objective of rehabilitation of repatriates, the Bank implemented several schemes for repatriate rehabilitation, spending Rs 4.75 crore benefitting 33928 repatriates.
The Bank is focused on steady growth, aiming at a business of Rs 17,500 crore for FY 2021-22 with repatriate rehabilitation as the prime objective, said Smt R.S. Isabella, Managing Director.
Readers would recall that earlier, Isabella had won an award from Women Leaders of the Year by the Frontiers in Co-operative Banking Awards-2020. The award is in the PACs/Credit Society Category.
The bank is also active in empowering women. The bank is giving special benefits to women on deposits”, she noted.
The bank was established in 1969 with the prime objective of rehabilitating repatriates from Sri Lanka, Burma and Vietnam, the bank has a unique reputation of catering to the repatriate community.
