Ever since the administrative committee chaired by V.B.Prabhu Verlekar has begun managing Goa State Co-operative Bank (GSCB), there has been a great improvement in the financial situation of the cooperative bank, reports Navhind Times.
The chairman is quoted claiming the bank earned a net profit of Rs 10.8 crore for the year ended on March 31 2018 as against the loss of Rs 14.85 crore for the previous year.
The total advances for the year stood at Rs 1,454 crore, registering a growth of 18.7 per cent, while the total deposits were at Rs 2,285 crore. The credit-deposit ratio of the bank stands at 66 per cent, and is the highest in Goa, the chairman revealed.
According to the chairman, the bank’s NPAs have come down to 7.14 per cent and net NPAs to 4.14 per cent. The govt administrative committee had taken charge of the GSCB affairs later in 2017.