West Bengal based Samata Co-operative Development Bank registered growth and improvement on all financial parameters in the 2023-24 FY. The bank earned a net profit of Rs 2.69 crore. As of March 31, 2024, the bank’s total business surpassed Rs 400 crore.
During the fiscal year 2023-24, all financial parameters of Samata Co-operative Development Bank Ltd. demonstrated positive trends compared to the previous year. Notably, the gross NPA reduced from 9.17 percent to 7.07 percent, while the net NPA decreased from 1.59 percent to 1.56 percent.
Deposits surged from Rs 218 crore to Rs 238 crore, marking a growth of 9.00 percent, while advances increased from Rs 164 crore to Rs 179 crore, showing a growth of 9 percent over the same period.
The bank’s total business increased from Rs 383 crore to Rs 417 crore, reflecting a growth rate of 8 percent. Additionally, the CRAR and PCR of the bank stood at 28.86 percent and 80 percent respectively as of March 31, 2024.
The Samata Co-operative Development Bank Ltd, with a rich legacy of 28 years, celebrated the silver jubilee of its Karunamoyee, Salt Lake Branch in September, highlighting its firm commitment to providing reliable financial services to society.
The bank was established in1996. It operates as a state-level bank across 4 branches, including Salt Lake, Palta, Durganagar, Garia -Laskarpur.
Headquartered in Salt Lake, Karunamoyee the bank boasts a network of 04 branches, 04 ATMs, and a workforce exceeding 34 employees. The Samata Co-operative Development Bank Ltd offers a comprehensive range of services spanning Retail Banking and Corporate Banking.