Vidyadhar Anaskar led Maharashtra State Cooperative (MSC) Bank has earned a net profit of Rs 369 crore in the 2020-2021 FY, the highest ever in the hist
May 24, 2021
Samuel Joseph J, Deputy Managing Director, IDBI Bank×
We’ve utilised the prompt corrective action period to change our business mix and strengthening of balance sheet.
During the four years that IDBI Bank was under prompt corrective action (PCA), it transformed itself from a predominantly corporate bank to a retail bank. And the Bank, which exited PCA on March 10, 2021, would like to keep it that way, according to Samuel Joseph J, Deputy Managing Director. In an interaction with
BusinessLine, he emphasised that it had aggressively accelerated provisioning, over and above the regulatory requirement, in the past to strengthen its balance sheet. So, write back to profits in the next two to three years, whenever the recovery from stressed assets happens, will be about ₹7,500 crore. Excerpts:
Janaseva Sah Bank grows on all parameters
UCB notes growth in both deposits and advances
The financial year 2019-20 for Pune based Janaseva Sahakari Bank Pune was fairly good as its total business and performance on other parameters were impressive. The total business of the bank increased from Rs 3100 crore in 2018-19 to Rs 3,227 crore in the 2019-20 FY.
The deposits of the bank grew from Rs 2000 crore to Rs 2060 crore whereas the total advances of the bank as on 31st March 2020 stood at Rs 1,167 crore. Earlier i.e. in 2018-19 it was Rs 1,129 crore.
Since the bank’s Chairman Pradeep Jagtap is indisposed with covid 19, Indian Cooperative could not get his comment on the financial report.
With no impact of Covid-19 on its business, Maharashtra based Model Cooperative Bank has performed well on almost all the financial parameters in the 2019-20 financial year. Despite several challenges, the bank has succeeded in increasing its profits in 2019-20 compared to the 2018-1 9 FY.
In 2019-20 the bank earned a net profit of Rs 7.86 crore whereas in 2018-19 it was Rs 7.60 crore. The total business of the bank grew from Rs 1,582 crore to Rs 1,653 crore in the 2019-20 FY. The deposits of the bank increased from Rs 1022 crore to Rs 1064 crore whereas loans and advances rose from Rs 560 crore to Rs 589 crore in the 2019-20 financial year.
In a letter addressed to the urban cooperative banks under the Western Region, the Reserve Bank of India has announced a partial and temporary relief on the issue of refund of share capital.
Sahakar Bharati leader and one of the members of the RBI Board representing the UCB sector, Satish Marathe has hailed the decision. Calling it an interim relief, Marathe has pasted the letter from the RBI’s CGM on his FB wall.
Titled “Banking Regulation (Amendment) Act, 2020 – Section 12/2YW) read with Section 56 of the Banking Regulation Act, 1949 – Refund of share capital”, the letter permits UCBs which maintain CRAR of 9% or above to refund the value of share capital to their members or nominees / heirs of deceased members on demand.