Sunil Patil has been re-elected unopposed for the third term as Chairman of Sanmati Sahakari Bank in an election held last week at the bank’s headquarters. Besides this, Mahadev Kamble has been elected unopposed as the Vice-Chairman of the bank. Kamble replaced Ajit Koik.
The bank’s board has re-elected Patil as the Chairman for three consecutive terms. The board comprises 17 elected directors in which 2 seats are reserved for Women and 1 seat form SC/ST.
In the newly elected board three directors are newcomers and the rest are from the outgoing board. The two directors from the outgoing board have resigned from the board because of their age issues.
Soon after talking to Indian Cooperative the bank Chairman Sunil Patil said, “I am very thankful to the board directors for reposing faith in me again for the third term. I will meet their expectations and put emphasis on taking the bank to the newer heights. We are committed to help the needy people. When I took charge of the bank in 2007, the deposits of the bank was about Rs 8 crore but today it is Rs 325 crore”.
“Our bank has achieved a business mix of Rs 560 crore in 2020-21 FY. The Net NPA and Gross NPA of the bank is 2.5 percent and 5.67 percent respectively as on 31st March 2021. The bank earned a gross profit of Rs 3.50 crore and net profit of Rs 1.01 crore”, he added.
He further said, the bank failed to do the expected recovery during the year due to imposition of Lockdown and moratorium given by the RBI. We hope that if everything will be normal then we will be able to do the business better”.
The bank’s area of operation is in the state of Maharashtra and Karnataka. Sanmati Sahakari Bank was established in the year 1996 under Mah Co-op Societies act 1960 and the bank merged with the Hangal UCB, Karnataka in 2018 and got the multi state status.