Delhi based Jamia Cooperative Bank’s profit has increased from Rs 57 lakh in the 2020-21 FY to Rs 2.01 crore as of 31st March 2022, which is three times higher in comparison to the profit earned as of 31st March 2021.
Despite Covid-19 aftershocks the bank performed spectacularly on all financial parameters, especially registering ‘Zero’ Net NPA. The business of the bank increased by Rs 17.90 crore (4.73%) from 378 crore as of 31st March 2021 to Rs 395 crore as of 31st March 2022.
Besides, the deposits of the bank increased by Rs 21.48 cr (8.56%) from Rs 250.79 cr as on 31.03.2021 to Rs 272.27 cr as on 31.03.2022. The deposits up to Rs.5.00 Lakhs of all customers of the bank are also insured with DIGGC.
Whereas, advances of the bank decreased by Rs 3.59 cr (2.82%) from Rs. 127.27 crores as on 31.03.2021 to Rs 123.68 cr as on 31.03.2022.
During the year, the bank made a recovery of Rs 5.90 crore in NPA accounts. The gross NPA of the bank as on 31.03.2022 is Rs 1.97 crore (15.94%) and net NPA of the bank is ‘Zero’. For the year ended 31.03 2022, the CRAR of the Bank is 20.54% as against the minimum requirement of 9% as prescribed by the Reserve Bank of India.
The bank proposed to give a 10% dividend to its shareholders for financial year 2021 22, subject to approval by the general body. The Reserve of the bank increased by Rs. 57.85 Lakhs (1.75%) from Rs 33.06 crore as on 31.03,2021 to Rs.33.64 crore as on 31.03.2022. Meanwhile the bank will organize its 6th Annual General Meeting on 25th September at New Delhi.