The Kota (Rajasthan) Nagrik Sahakari Bank, which is headed by Rajesh Birla, brother of Lok Sabha Speaker Om Birla, earned a profit of Rs 5.69 crore in the 2023-24 FY and announced a 20% dividend for its shareholders.
It was announced during the bank’s 60th Annual General Meeting held last week that the RBI lifted the SAF from the bank on 7th June 2024.
The bank’s Non-Performing Assets (NPA) saw a significant drop, with the net NPA decreasing from 7.67% in 2021-22 to just 0.59% in 2023-24.
The bank’s working capital for the year 2023-24 reached Rs 1033.90 crores, with a profit of Rs 5.69 crores and deposits of Rs 436.82 crores. The bank’s membership has grown to 63,819.
The bank Chairman Rajesh Krishna Birla highlighted the bank’s steady progress. He further shared the bank’s success in exiting the Supervisory Action Framework (SAF), as declared by the Reserve Bank of India on June 7, 2024.
The event was attended by Hari Krishna Birla, Sandeep Sharma, MLA from Kota South, Manju Birla, Chairperson and others.