Pune based Sharad Sahakari Bank organized its 50th Annual General Meeting in the presence of Maharashtra Cooperation Minister Dilip Walse Patil on Sunday last week.
In his speech on this occasion, Patil apprised the participants of the new National Cooperative Policy and several initiatives launched by the Union Ministry of Cooperation in a bid to make PACS viable and vibrant.
During the AGM, it was revealed that the bank earned a net profit of Rs 10.10 crore as on 31st March 2023. The gross NPA and Net NPA of the bank stood at 12.51 percent and 3.12 percent respectively.
The bank has performed well on all the financial parameters in the 2022-23 FY. The deposits of the bank grew from Rs 1264 crore (2021-22) to Rs 1378 crore in 2022-23 whereas loan & advances increased from Rs 898 crore to Rs 989 crore as on 31st March 2023.
The CRAR of the bank stood at 12.02 percent. The bank has a network of 27 branches and its area of operation is throughout Maharashtra.