The 2023-24 financial year for the leading cooperative bank-Janata Sahakari Bank, Pune was unprecedented, as its business crossed to more than Rs 15000 crore and earned a net profit of Rs 40 crore, which is four times higher in comparison to previous year.
The bank performed well on all the financial parameters in the 2023-24 FY. The deposits of the bank grew from Rs 9166 crore (2022-23 FY) to Rs 9625 crore as on 31st March 2024 whereas advances increased from Rs 5,120 crore to Rs 5,664 crore. The total business mix of the bank stood at Rs 15,290 crore.
Besides, the Net NPA and Gross NPA of the bank stood at 2.76 percent and 5.33 percent as on 31st March 2024 respectively.
Janata Sahakari Bank Ltd., Pune was established on 18th October 1949 by people committed to social causes in Pune city.
The Bank has always kept the goal of helping the economically weaker sections of society and has carved a place for itself as a bank of masses and not only for classes.