The leading bank of Maharashtra-Satara District Central Cooperative Bank crossed the business mix of more than Rs 15000 crore in the 2022-23 financial year. The Bank earned a net profit of Rs 70 crore in the said fiscal, beating all its past records.
Sharing the unaudited figures of 2022-23 with the Indian Cooperative, Bank CEO Rajendra Sarkale said, “The deposits of the Bank increased from Rs 9122 crore to Rs 9829 crore whereas loans and advances grew from Rs 5112 crore to Rs 5368 crore. As of 31st March 2023, the bank business stood at Rs 15,197 crore”.
Besides, the gross profit and net profit of the bank increased to Rs 204 crore and 70 crore respectively in the 2022-23 financial year. This year the bank also maintained the tradition of having ‘Zero’ net NPA. The gross NPA of the bank stood at 0.24 percent.
Sarkale said, “We are making efforts to increase the business of the bank in the current financial year and touch the figure of more than 17000 crore at the end of the ongoing fiscal year”, he asserted.
Besides, the CRAR of the bank as of 31st March 2023 stood at 14.53 percent. The own funds and total reserves during the year were Rs 849 crore and Rs 562 crore respectively.
Over 956 PACCs are associated with the bank, out of which 937 are in profit and remaining are in loss. The net worth of the bank is more than 900 crore.
The bank is the economic powerhouse of the Satara District; has always been engaged in the work of the socio-economic upliftment of the farmers since 1950. It has a network of 319 Branches as of 31st March 2023.
Satara DCCB provides services like RTGS/NEFT, ATMs, MicroATMs, Any Branch Banking, Internet Banking (View only), CTS, Mobile Banking, IMPS, UPI, APBS, NACH-CR/DR, etc.
Readers would recall that last year, Satara DCCB got the best performing bank award from Union Home and Cooperation Minister Amit Shah.