Gujarat Urban Cooperative Banks Federation (GUJFED) laid bare the details of the financial position of top 10 UCBs out of 220 in Gujarat as on 31st March 2017 in the recently held Annual General Meeting of the apex body.
Kalupur Commercial Cooperative Bank is the 1st leading bank of Gujarat with a deposit of Rs 6249 crore, advances of Rs 4221 crore and earning a profit of Rs 85 crore with its 55 branches. This is the UCB which made headlines recently in connection with Jay Amit Shah business loan.
Rajkot Nagrik Sahakari Bank came second with deposits of Rs 4342 crore and a profit of Rs 60 crore with 36 branches. Mehasana Urban Cooperative Bank stood third with deposits of Rs 4176 crore and a profit of Rs 47 crore with 53 branches.
According of GUJFED data, there are 220 Urban Cooperative Bank in Gujarat with a deposit of Rs 50,715 crore and advances of 26,954 crore. UCBs have a network of 1023 branches and investment of Rs 26,079 crore
Surat People’ Cooperative Bank and Cooperative Bank of Rajkot hold the 4th and the 5th position with deposits of Rs 3667 crore and Rs 2324 crore respectively. The Cooperative Bank of Rajkot has surpassed Surat People Cooperative Bank in terms of profits with Rs 37 crore with 26 branches, according to the details revealed during the AGM.
There are only four Urban Cooperative Banks in Gujarat with 30 %NPAs and 158 UCBs having gross NPAs between 0 to 7 percent. There are only seven banks that are in the red.
Sutex Cooperative Bank holds the 6th position in top ten deposits as well as advances whereas Ahmadabad
Nutan Nagarik Sahakari Bank is at the 8th Position with a deposit of Rs 1355 crore and advances of Rs 728 crore. It has also become the third largest bank in Ahmadabad district.
Varchha Cooperative Bank holds the 9th Position with a deposit of Rs 1313 crore in the top 10 leading UCBs of Gujarat and Prime Cooperative bank is at the 10th position with Rs 1120 crore earning a profit of Rs 11 crore.
The Core Banking Solution has been installed at 214 UCBs and 6 banks are in the process of getting it. There are 214 onsite ATMs and 7 UCBs are with offsite ATMs.