Vasai Vikas Sahakari Bank adjudged 5th position in India
Honored as “Best Performing Co-operative Bank for Financial Year 2008-09” Vasai Vikas Sahakari Bank based in Vasai (w) is growing at the rate of 150 percent for last three years. Be it Indian Achievers award or any other- the bank’s track record of acquiring a business volume of Rs. 850 Crores in a short period of 25 years is commendable.
It caters to various small depositors and borrowers. With network of 7 branches Vasai sahakari Bank has won the confidence of its customers.
Bank also claims to be functioning with focus on co-operative values and has been active in economic development of financially backward society.
Presently Bank is headed by Chairman Mr. Jagdish Raut, Vice-Chairman Mr. Prabhakar D. Vartak and CEO Mr. Dilip Sant.
The financial parameters given below indeed indicate the financial position of the Bank
Bank’s Financial Results for the last 3 years
Rupees in Crores
| 2007-08 | 2008-09 | % Growth
2008-09 |
2009-10 | % Growth
2009-10 |
||
| 1 | Capital | 6.88 | 8.02 | 16.57 | 9.51 | 18.57 |
| 2 | Reserves | 53.58 | 58.92 | 9.97 | 65.71 | 11.52 |
| 3 | Deposits | 359.62 | 431.02 | 19.85 | 544.18 | 26.25 |
| 4 | Advances | 201.38 | 251.84 | 25.05 | 305.24 | 21.20 |
| 5 | Total Business | 561.00 | 682.86 | 24.62 | 849.42 | 24.39 |
| 6 | Investments | 188.31 | 211.62 | 12.38 | 286.16 | 35.22 |
| 7 | CRAR | 17.59% | 17.24% | – | 20.30% | – |
| 8 | Net NPA | 0 | 0 | – | 0.26% | 0.26% |
| 9 | Net Profit | 6.96 | 7.25 | – | 5.59 | – |
| 10 | C.D.Ratio | 56% | 58.43% | – | 56.09% | – |