Notwithstanding PMC Bank debacle, there are several urban co-op banks which are doing wonderfully job and have registered impressive growth this fiscal. One such bank is Mumbai based Multi-State Scheduled Bank- Apna Sahakari Bank.
There are many urban cooperative banks in India who have failed to lend credit to the borrowers in the last fiscal due to adverse market conditions but Apna Sahakari Bank has stood out with its excellent performance. This was announced in the 51st Annual General Meeting held in Mumbai last week.
The total deposits of the bank stood at Rs 3464.94 crore as on March 31, 2019 whereas it was Rs 3166.85 crore as on March 31.2018. The loan & advances of the bank stood at Rs 2410.43 crore as on March 31, 2019 whereas it was Rs 2100.64 crore as on March 31.2018.
The total business mix of the bank stood at Rs 5875.37 crore whereas in the FY 2017-18 it was Rs 5267.49 crore.
Besides, the bank has performed well in earning profit. making a net profit of Rs 18.08 crore in the last FY 2018-19. The bank had earlier in the FY 2017-18 had earned a profit to the tune of Rs 16.59 crore.
”However, there was a slight rise in the NPA but our team is working to control it”, said Dattaram Chalke Chairman of Bank to this correspondent on the phone soon after the AGM.
The bank has also announced 10 percent dividend for its shareholders. The bank did not open a single branch in the last financial year i.e. 2018-19 and the total number of branches is 85.
The Reserve Fund of the bank rose from Rs 278.83 to Rs 420.61 crore as on 31st March 2019. Bank earned a gross profit of Rs 35.11 in 2018-19 FY.
The Bank Vice-Chairman Shantaram Divekar, CEO Rajan Hombalkar, Directors and several delegates were present on the occasion.
Apna Sahakari Bank Ltd. popularly known as “Apna Bank”, was established on the auspicious day of Gudhi Padva on 29th March 1968 .It started its operations from the Apna Bazar, Naigaum, Dadar in Mumbai. The bank has completed 50 years of its existence.