Maharashtra based Multi State Scheduled Bank- GP Parsik Sahakari Bank’s performance in 2022-23 was neither very good nor very bad. Though the bank registered growth on its business mix portfolio, its net profit dipped by Rs 13.03 crore as on 31st March 2023.
The business mix of the bank increased from Rs 6,135 crore (2021-22) to Rs 6,305 crore in the 2022-23 FY. The net profit of the bank reduced from Rs 50.62 crore (2021-22) to Rs 37.59 crore as on 31st March 2023.
The figures were revealed recently during the 52nd Annual General Meeting of the bank held at Thane.
During the financial year, 2022-23 the total deposits of the bank also slightly decreased by Rs 1.80 Crore i.e. by 0.04% against an increase of Rs 133.54 crore during 2021-22.
The advances portfolio has increased by Rs 171.78 Crore during the FY 2022-23. The advances of the bank were Rs 1848.74 Crore in the FY 2021-22, which increased to Rs 2020.52 Crore during the FY 2022-23.
Besides, the Bank’s Gross Non Performing Assets stands at Rs 76.94 Crore as on 31 March 2023 as against Rs 96.42 Crore as on 31 March, 2022. This year also the bank maintained net NPA at 0.00%.
The bank recommended a dividend of 15% on pro-rata basis for the financial year 2022-23 after ploughing back sufficient profit for maintaining a healthy capital adequacy ratio for future growth. The bank CRAR as on 31.03.2023 was 20.91% compared to 22.31% as on 31.03.2022.
Presently the bank has a network of 91 branches 85 on-site and 5 Off-site ATMs which are providing banking services to the customers.
Meanwhile, the Indian Cooperative’s efforts to elicit the response of the bank’s Chairman on the annual report 2021-22, have not met with success so far.
The bank started on 21st May 1972, in a remote village in Kalwa, Thane District, Maharashtra. The bank achieved Scheduled status in the year 1998 and achieved multi state status in March 2015.