Releasing the provisional data, Gujarat State Co-operative Agricultural and Rural Development Bank (popularly known as Kheti Bank) earned a gross profit of Rs 91 crore as on 31st March 2024 and achieved a ‘Zero’ percent NPA.
Besides, the bank disbursed the loan amounting to Rs 837 crore and did a commendable recovery of Rs 295 crore during the year.
In a message Kheti Bank Chairman Dolar Kotecha said, “We take immense pride in championing the mantra of “Prosperity through Cooperation” set forth by the esteemed Prime Minister of our nation, Shri Modi, and the visionary leadership of Shri Amit Shah, our nation’s first Minister of Home Affairs and Cooperation. Their guidance has been instrumental in shaping our bank’s success”, he said.
“Thanks to your unwavering support and assistance, we are thrilled to announce our outstanding achievements. In the financial year 2022-23, we recorded a remarkable Net profit of Rs. 51.19 crores, marking a significant milestone with a ground-breaking “0%” NPA status”, he says.
“This year, we continue to soar, achieving a stellar Gross profit of Rs 91 crores and a Net profit of Rs. 65 crores, all the while maintaining our pristine “0%” NPA record”, his message read.
Kotecha added, “Our lending prowess reached unprecedented heights in the fiscal year 2023-24, with loans disbursed amounting to an impressive Rs. 837.89 crores. Furthermore, our commitment to sound banking practices is evident in our commendable recovery of Rs. 295.72 crores”.he said.
“We extend our heartfelt gratitude for your invaluable support, which has been the cornerstone of our success. As we embark on this journey together, let us continue to strive for even greater accomplishments, driven by the spirit of cooperation and prosperity. This Data is Provisional”, Kotecha underlined who is also the Chairman of Nafcard.
The bank has 17 district offices and 176 branches at the taluka level. It is said that the 148 buildings owned by the bank include the premises of 16 district offices and 132 branches.