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Pune People s Co-op Bank performs well; Both business & profit grow

Despite the Covid-19 challenge, Maharashtra based Pune People’s Cooperative Bank, a Multi-State Bank has performed well as both its business and profit registered a growth in the financial year 2019-20. The bank has also crossed the deposit base of Rs 1200 crore in the third quarter of the current FY. The bank’s total business increased from Rs 1,772 crore to Rs 1,837 crore as on 31st March 2020. The rise in the profit is slight and it has increased from Rs 12.52 crore to Rs 12.64 crore in the 2019-20 financial year. One of the directors Adv. Subhash Mohite who is also the Chairman of Pune Urban Cooperative Banks Association said, “We have seen no impact of Covid-19 on our business and from deposits to loans and advances to profit and on others financial parameters, the UCB has performed well. Even till the end of third quarter of the current financial year we have crossed the deposit base of Rs 1200 crore”.

Truist accelerates cost-cutting steps with jobs, branches, office space

Truist Financial Corp. may be taking a deliberate approach toward a mid-2022 completion of integrating the BB&T Corp. and SunTrust Banks Inc. branch network and operational systems. It s also continuing to step on the gas in its churning of jobs, branches and office space amid a pivotal digital transformation. Truist, the nation’s sixth-largest bank, debuted Dec. 6, 2019, following BB&T’s $33.5 billion purchase of SunTrust. Truist’s community/retail banking hub is in Winston-Salem, while the headquarters is in Charlotte. 2021 is going to be an intense year of focus on expenses, from the perspective of transforming our structures, so that we’re doing the right things in terms of investments and expense allocations, Kelly King, Truist s chairman and chief executive, told analysts Thursday.

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