Uttar Pradesh State Cooperative Bank (UPCBL) has crossed the business mix of more than Rs 21,000 crore and earned a net profit to the tune of Rs 60.76 crore in the 2022-23 FY, beating all its past records.
The business mix of the bank increased from Rs 20,594.05 crore (2021-22FY) to Rs 21,564.40 crore as on 31st March 2023. Though during the year, the bank’s deposits slightly declined, registered a growth on loans and advances portfolio.
The deposits of the bank declined from Rs 10,562 crore (2021-22FY) to Rs 10,283 crore whereas loans and advances rose from Rs 10,031 crore to Rs 11,281 crore as on 31st March 2023.
Besides, in the 2022-23FY,and this year,the bank’s net NPA stood at ‘Zero’ percent. The gross NPA was reduced from 4.54 percent (2021-22FY) to 3.93 percent as on 31st March 2023.
During the year, the bank opened 13 branches and the total number of branches now stands at 41.