Maharashtra-based Kalyan Janata Sahakari Bank has crossed the business mix of more than Rs 5,100 crore and earned a net profit of Rs 19.42 crore as of 31st March 2021, which is higher in comparison to the previous financial year i.e. 2019-2020.
The figures were revealed during the 48th Annual General Meeting of the bank held recently. Besides, the bank has announced to give a 7 percent dividend to its shareholders.
Despite Covid-19, the bank has performed well on almost all the financial parameters. The total business of the bank increased from Rs 5,086 crore in the 2019-20 FY to Rs 5,179 crore in the 2020-21 FY, registering a growth of 1.82%. During the year the total deposits increased from Rs 3,129 crore to Rs 3187 crore registering an increase of Rs 58.68 crores which is 1.88% compared to last year. The total advances at the end of the year were Rs 1991 crore, registering a rise of 1.73%.
Meanwhile, talking to Indian Cooperative correspondent CA Sachin Sudhakar Ambekar said, ” We are focusing on steady growth instead of forcing the pace of the business. Despite adverse marketing conditions and during the pandemic situation, the bank, in general, has performed well”.
He further said on the phone, “At present, we are focusing on recovery. The Bank is continuing strenuous efforts not only to bring the existing NPA level down but also to minimize slippage of new accounts into NPA category”.
The Gross NPA percentage has increased from 5.19% to 5.24% during the year and the net NPA percentage now stands at 2.93% against 2.83% as of 31.03.2020.
The Bank CRAR as of 31/03/2021 is 12.32%, against the minimum level of 9% as prescribed by RBI and the own funds at the end of the year stood at Rs 204.89 crore. During the year, the bank’s Share Capital stood at Rs 108.24 crore.
The Kalyan Janata Sahakari Bank is one of the renowned Urban Co-operative Banks having a network of 42 branches in different states.