Uttarkashi District Cooperative Bank organized its 53rd Annual General Meeting on Tuesday, in which Uttarakhand Cooperative Minister Dhan Singh Rawat participated virtually.
In the 2021-22 financial year, the bank not only performed well in increasing its total business but succeeded in achieving ‘Zero’ net NPA.
Addressing the annual general meeting of the bank, Chairman Vikram Singh Rawat said, “The bank has performed well on all the financial parameters. We are developing a strategy for the computerization of MPACS. Several branches of the bank are having ATM machines and will install in other branches also ”.
“The bank is also making efforts to provide micro ATMs to the societies in remote areas. We will also launch internet banking and mobile banking in the near future”, Rawat added.
The business mix of the bank increased from Rs 813 crore in 2020-21 to Rs 914 crore as of 31st March 2022. The deposits base of the bank increased from Rs 537 crore to Rs 565 crore. The loans outstanding of the bank stood at Rs 348 crore.
The bank earned a profit of Rs 5.25 crore in the 2021-22 FY. Earlier in 2020-21, it was Rs 4.61 crore. The gross NPA to total loan outstanding of the bank stood at 8.38 percent.
The Share capital and reserves of the bank increased from Rs 7.07 crore and Rs 76 crore in the 2021-22 FY. As of 31st March 2022, the bank net worth stood at Rs 74.75 crore.
The CRAR of the bank stood at 13.35 percent. The figures were revealed during the AGM meeting.
The bank has 17 branches across Uttarkashi and 35 PACS are associated with the bank.
