Delhi Nagrik Sahakari Bank, which is under SAF since 2015, registered a loss of Rs 13.24 crore in the 2022-23 FY, was revealed during the bank’s 34th Annual General Meeting held last week.
What may surprise readers as it did to us is that the bank is contributing to the education fund despite losses. This year also the bank has contributed a sum of Rs 50,000 toward the education fund, being maintained by the Delhi Cooperative Registrar.
Besides, the bank deposits decreased from Rs 411.87 crore (2021-22) to Rs 379.59 crore as on 31st March 2023 but the advances grew from Rs 60.75 crore in 2021-22 to Rs 89.24 crore in the 2022-23 FY.
The bank’s net NPA reduced from 7.69 percent to 1.04 percent in the 2022-23 FY.
Addressing the AGM, Chairman Pradeep Kumar Sharma said, “The bank is continuously focusing on reducing the NPA levels and making efforts to recover bad debts. The CRAR of the bank stood at 21.28 percent as on 31st March 2023”.
The bank has a network of 12 branches in Delhi.
