Nashik based Godavari Urban Cooperative Bank has crossed the business turnover of over Rs 204 crore in this financial year and its eyeing to achieve a business target of more than Rs 300 crore by 2020, said its Chairperson Amruta Vasantrao Pawar to this correspondent on the phone.
“We are on growth path and our business is increasing. We have performed well in all the fields including deposits, loans and advances earning more profit in the financial year 2018-19. The UCB’s deposits rose from Rs 140 crore to Rs 142 crore and loans and advances rose from Rs 60 crore to Rs 62 crore in FY 2018-19,” said Pawar who is the daughter of the renowned cooperator Late. Dr Shri Vasant Pawar.
This year also our net NPA remains Zero but due to non-payment of loans from a few borrowers our gross NPA increased a little bit in comparison to the previous year i.e. 2017-18”, she lamented.
Our net profit has also increased from Rs 1.60 crore to Rs 1.74 crore in this fiscal. “We have 4 branches across the Nashik region and we plan to open two to three new branches. However, our expansion proposal is pending with the RBI for several days. We are eyeing to achieve a deposit base of Rs 150 crore and loans and advances of Rs 75 crore till 2022”, she informed while highlighting her future plans.
Highlighting the hurdles, she said we are facing competition from other players in the market and recovery is also the issue. As the government is shutting down UCBs this is creating a wrong perception in the minds of the common public. Disbursing new loans and entertaining new customers is also a challenge, she noted.