Nashik’s largest urban cooperative bank-Nashik Merchants Cooperative (Namco) Bank crossed the business mix of more than Rs 3,000 crore and earned a net profit of Rs 41.29 crore as on 31st March 2024.
The business mix of the bank grew from Rs 2,798 crore (2022-23) to Rs 3,223 crore in 2023-24 FY. The deposits and loans of the bank stood at Rs 2184 crore and Rs 1039 crore as on 31st March 2024 respectively.
Besides, the net NPA remained ‘Zero’ and gross NPA came down from 6.21 percent to 5.90 percent. The bank earned a gross profit of Rs 66.42 crore.
The bank has a membership base of more than 1.96 lakh and a share capital of Rs 51.48 crore.
The bank has a network of 80 branches.