One of the leading banks of Maharashtra GP Parsik Sahakari Bank which had completed 50 years of its existence in the month of May 2022, has earned a net profit of more than Rs 50 crore in the 2021-22 financial year and crossed the business mix of Rs 6k crore.
The bank has achieved a net profit of Rs 50.62 crore which has increased by Rs 30.20 crore more than the last financial year 2020-21. Besides, the business mix stood at Rs 6,135 crore as of 31st March 2022. Earlier i.e. in 2020-21, it was Rs 6,101 crore.
These figures were revealed during the bank’s 51st Annual General Meeting held recently.
During the financial year 2021-22, the total deposits of the Bank increased by Rs 133.54 crore i.e. by 3.21% as against an increase of Rs 209.51 crore during 2020-21.
As of 31st March 2022, the bank’s Net and Gross NPA stood at ‘Zero’ and 5.22 percent. The Bank’s Gross Non-Performing Assets stands at Rs 96.42 crore in the FY 2021-22 as against Rs 118.91 crore for 2020-21 FY.
The bank’s dividend of 15% on pro-rata basis for the financial year 2021- 22 after ploughing back sufficient profit for maintaining healthy capital adequacy ratio for future growth. The bank’s CRAR as of 31.03.2022 was 22.31% increased from 21.35% as of 31.03.2021.
Presently the bank has a network of 91 branches and 5 Off-site ATMs which are providing the banking services to the customers.
Meanwhile, Indian Cooperative efforts to elicit the response of the bank’s Chairman on the annual report 2021-22, have failed so far.