Despite the Covid-19 pandemic, Gujarat based Surat District Cooperative Bank has performed well in all the fields and has crossed a business mix of Rs 8,650 crore in 2020-2021 FY. The bank is aiming to achieve the business mix of Rs 10,000 crore till 2022.
Sharing the future plans and goals and current financial figures with Indian Cooperative the Bank Chairman and Sumul Director Nareshbhai Patel said, “Despite Covid-19 our bank has performed well on all the parameters and vows to take the bank to newer heights in the near future.”
“Though, earlier we had set the target to touch the business mix of Rs 10k crore till the end of the current financial year but due to no business during the pandemic, we have revised our aim to achieve the figure by 2022”, added the Chairman.
“The total business of the bank has increased from Rs 7,877 crore to Rs 8,650 crore as on 31st March 2020. The deposit of the bank has risen from Rs 5,389 crore to Rs 5,928 crore whereas loans and advances grew from Rs 2,488 crore to Rs 2,722 crore”, Patel informed while sharing the figures.
He further added that our area of operation is Surat and Tapi district and we are helping the farmers form the network of 111 branches spread across the said districts. Over 2400 societies are our shareholders.
The gross NPA of the bank increased from 1.40 percent to 2.89 percent and Net NPA decreased from 2.21 percent to 0.86 percent in the 2019-2020 financial year. Besides, the net profit of the bank increased from Rs 15 crore to Rs 16 crore. The net worth of the bank increased from Rs 462 crore to Rs 491 crore as on 31st March 2020.
Patel underlined that; our bank has been committed for the overall upliftment of society. We have donated lakhs of rupees to the Hospitals, Schools, Colleges and Social Charitable Institutions and also a separate fund has been created for donations to the Educational organizations.
The former Chairman of Bank Dilipbhai Bhakta was bagged with “Sahakarita Shiromani Award” by KRIBHCO in 2009-10.
