The leading bank of Gujarat-Kalupur Commercial Cooperative Bank crossed the business mix of more than Rs 16,000 crore and earned a net profit of Rs 186.70 crore in the 2022-23 FY.
The business mix of the bank increased from Rs 15,961 (2021-22) to Rs 16,987 crore as on 31st March 2023. The deposits increased from Rs 9,854 crore to Rs 10,175 crore whereas advances grew from Rs 6,107 crore to Rs 6,812 crore.
Besides, the profit rose from Rs 167 crore to Rs 186 crore. The share capital and reserves stood at 100 crore and 1928 crore respectively.
Despite RBI imposing a monetary penalty of Rs 44.00 lakh on the Kalupur Commercial Co-operative Bank last year, the UCB has been able to do well.