Excelsior Correspondent
JAMMU, Apr 17: The working results of The Citizens’ Co-Operative Bank Ltd Jammu at the close of financial year 2012-13 have shown encouraging trends and the membership of the Bank has gone upto 30467 with a share capital of Rs 601.59 lakh against last year’s bench mark of Rs 546.47 lakh.
“The deposits of the Bank are to the order of Rs 29068.88 lakh whereas the advances are Rs 12339.01 lakh. The Bank has affected a record recovery of Rs 2409.17 lakh during the financial year”, said chairman of the Bank, Dinesh Gupta while addressing a press conference here today.
“The percentage of net NPAs to total loans has gone down and the Bank is in profit. The Bank being committed for service to the society has advanced a substantial amount of Rs 7182.65 lakh to priority sector and has made advances to the tune of Rs 565.59 lakh only to weaker sections. Besides making advances the Bank is making investments in Government of India and other approved securities and has also initiated Treasury operation to increase its income”, he added.
Gupta informed that the Bank has computerized its eight business units and the rest shall be computerized within a short span of time. After full computerization the Bank shall be able to provide RTGS and NEFT services to its clients from its own business units, he said.
The Board of directors of the Bank has set a business target of Rs 70,000 lakh for the financial year 2013-14 and efforts will be done to bring net NPA to below 5%.
Besides Gupta and Chief Manager of the Bank, Kuldeep Kumar Gupta, others directors of the Bank Board, Deepak Gupta vice-chairman, Kailash Langer, Parveen Sharma, Koushal Kumar Gupta, Parshotam Singh Pawar, S Charanjit Singh Raina, Varinder Singh Jamwal and Karunesh Gupta were also present on the occasion.
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