Uttarakhand based Almora Urban Cooperative Bank crossed the business mix of more than Rs 4700 crore in the 2022-23 FY. During the year, the net profit of the bank doubled.
The bank earned a net profit to the tune of Rs 30.17 crore as on 31st March 2023. Earlier i.e. 2021-22 it was Rs 16.64 crore.
The business mix of the bank increased from Rs 4,331 crore in the 2021-22 FY to Rs 4,740 crore in 2022-23. The deposits of the bank rose from Rs 3,032 crore to Rs 3,208 crore whereas loans & advances increased from Rs 1299 crore to Rs 1532 crore as on 31st March 2023.
The Almora UCB performed well on almost all the parameters. The CRAR of the bank stood at 30.04%. The share capital stood at Rs 30.38 crore as on 31st March 2023.
The bank is providing modern facilities to the customers through 50 branches and 26 ATMs in Uttarakhand.
It bears recall that it is the first bank in the cooperative sector of Uttarakhand, which is a direct member of National Payment Corporation of India (NPCI). The bank is providing modern banking facilities to the customers.