Delhi based Vaish Cooperative Adarsh Bank earned a net profit of Rs 6.10 crore in the 2021-22 FY, which is thirteen times higher in comparison to the profit earned as on 31st March 2021. Earlier, it was only Rs 45 lakh.
It is being said that the reason behind a remarkable jump in the profit is because the bank got success in resolving the litigation on a UCB’s property in GK- 2 in Delhi, festering since 1987.
In the said financial year, the bank business mix stood at Rs 184 crore which includes deposits of Rs 146 crore and loans of Rs 38 crore.
As on 31st March 2022, the bank’s share capital and reserves stood at Rs 3.70 crore and 21.08 crore respectively.
The bank has 11 branches across Delhi. Out of these 11 branches, six branches i.e. Darya Ganj, Karol Bagh, Azadpur, East of Kailash, Gandhi Nagar & Rohini are housed in the bank’s own premises.
Besides, the bank announced its plan to organize the 54th Annual General Meeting on 9th October 2022 at New Delhi.