Page 17 - Banking Finance July 2019

J’Khand State Co-operative Bank to increase loan ap-
Kerala cooperative bank
proval for new FY
achieves record profit
More than the previous financial year, Jharkhand State Co-operative Bank (JSCB)
The Kerala State Cooperative Bank
will increase loan approval around 40% through its
has achieved a record profit of Rs.
more than 100 branches spread across the State.
15,432 crore in the 2018-19 fiscal.
JSCB Chief Executive Officer, Vijay Kumar Chaudhary
“The fiscal’s operating profit was Rs
said that the bank began its journey as state co-op-
281.91 crore. This is the first time
erative bank in 2017 and presently the bank has a
the bank has recorded net profit af-
total of 105 branches all over the state. “The bank is
ter the bank director board sanc-
planning to add maximum number of ‘Bank Mitra’ by
tioned irregular loans in 2001-06,”
giving them training to access remote areas for providing its banking facilities
Cooperation Minister Kadakampally
to customers living in remote areas. The bank will empower Large Area Multi-
Surendran said.
Purpose Cooperative Societies (LAMPS) and Primary Agriculture Cooperative So-
The bank recorded net profit in the
cieties (PACS) and the bank will provide various kinds of loans to LAMPS and PACS
fiscal Rs 72.39 crore, while the gross
so that the farmers can get attracted in large numbers towards LAMPS and
NPA reduced to 3.16% and net NPA
PACS,” he added.
1.43%. At a time when several
“The bank will sign MoU with other institutions to provide various services to
nationalised commercial banks faced
its customers related to banking and co-operative. It will provide loans to LAMPS
net loss and huge NPA, KSCB made
and PACS on relatively lower interest rates for their better functioning, as a total
the achievement, said the minister.
of 4,383 LAMPS and PACS are existing in Jharkhand. The bank will provide loans
According to RBI, the average profit of and it will get re finance facility from National Bank for Agriculture and Rural
state cooperative banks in the country Development (NABARD),” said Chaudhary.
in 2018-19 was Rs 31 crore. “While the
Stating the bank’s achievement of record profit of Rs 0.5130 crore in financial
RBI mandates 9% CRAR, the SCB’s is
year 2018-19 and Rs 0.4672 crore in financial year 2017-18, JSCB Board president
22.54%,” the minister said.
Abhaykant Prasad said, “Capital to Risk Asset Ratio (CRAR) of the bank is 10.16
The latest figures show that the SCB per cent in financial year 2018-19 where it was 9.90 in financial year 2017-18.
is maintaining high operational excel- The bank has immovable property at 44 different places. JSCB is fully supporting
lence rebutting the major criticism the state government to successfully complete its numerous ambitious schemes.”
against the Kerala Bank proposal,
“Six financial literacy centers of the bank are providing training in the field of
that the government was merging
financial products to common men. The bank has 31 Automated Teller Machine
profit-making district cooperative
at different places of the State. Recently the bank has signed MoU with insur-
banks with the loss-making SCB.
ance giant to provide insurance services in the State,” He added.
BANKING FINANCE | JULY | 2019 | 17