Pune’s Vishweshwar Sahakari Bank organized its 53rd Annual General Meeting on Monday and announced a 10 percent dividend for its shareholders.
During the 2023-24 FY, the bank business mix has drastically increased but there is a slight decrease in its net profit.
The business mix of the bank grew from Rs 2,885 crore (2022-23 FY) to Rs 3,484 crore as on 31st March 2024, very close to the figure of Rs 3,500 crore. The net profit of the bank slightly reduced from Rs 16.69 crore to Rs 16.53 crore, a difference of Rs 16 lakh.
Besides, the net and gross NPAs of the bank stood at 1.59 percent and 4.63 percent respectively. The deposits and advances stood at Rs 2,138 crore and Rs 1,346 crore as on 31st March 2024 respectively.
The bank has shifted to the new CBS and implemented it successfully. The new CBS will provide reports as well as MIS through the system as per requirements of RBI. It also started to provide QR code facility under Bank’s Logo for our customers during the year.