Addressing a press conference, TJSB Bank chairman Vivekanand Patki said audited financial results for the year ended 31st March 2022 show the bank’s total business crossed a historic figure of Rs 20000 crores, posting a growth of 13.46%.
As per the Audit Report the bank’s Advances grew by 19.39% YoY, Deposits grew by 10.69% YoY while it maintained its gross NPA at 3.93% and net NPA at 0%.
The successful Golden Jubilee celebrations constitute yet another achievement of the bank, said the chairman adding “At the beginning of its fiftieth year, the Bank had set an ambitious target of achieving a business mix of Rs.19720 crores.”
Thanking employees and stakeholders, Patki said due to their stellar efforts, the Bank has not only met all the targets set but also surpassed the target of Rs 19,720 Crore Business Mix for FY 2022 by a healthy margin of more than Rs.300 crore thus crossing a major milestone of 20,000 Crore.
Shedding further light on the Audit Report, Patki said the Bank’s deposits increased by Rs 1287 crores to Rs 13,336 crores which is a 10.69% rise over the previous year. Similarly, the bank’s loan portfolio increased by Rs 1091 crore to Rs 6722 crores, a rise of 19.39%.
He also revealed that the gross profit of the bank has also increased by Rs 8 crores this financial year to Rs 237 crores. The gross non-performing loans of the bank have come down from 4.23% to 3.93%. The Net non-performing loans have remained zero, he noted.
These milestones have been achieved by maintaining the culture of the Bank, maintaining a customer centric approach and at the same time bringing in efficient banking products and abiding by the rules and regulations set by the regulatory authorities, noted the Chairman.
In his remarks, MD & CEO of the Bank, Sunil Sathe expressed his confidence that the bank would continue to forge ahead doing well on all parameters in the future as well.
Sathe said “credit quality has been maintained due to disciplined lending practices. The Bank has shown that it is possible to deliver qualitative growth without compromising on long term profitability, continuing to focus on two key principles in its business – building a stable and low-cost liability base, and winning clients by offering unique solutions.”
The Vice Chairman of the bank Sharad Gangal and the Board of Directors were also present at the press conference.
