Uttar Pradesh based Faizabad Zila Sahakari Bank has come out of the red and earned a profit of Rs 41.75 lakh in 2022-23.
It bears recall that the bank registered a loss of Rs 2.73 crore in the 2021-22 FY.
Confirming the news, the bank MD Sudhanshu Chaudhary said, “We have wiped out all the losses and earned a profit as on 31st March 2023. Our areas of operation are Ayodhya and Ambedkar Nagar district of Uttar Pradesh”.
The bank has a network of 24 branches in two districts