MD & CEO's Desk :

Mr. Nikhil Mohan
(Managing Director & CEO )

Dear Shareholders,

It is my great privilege to present before you the highlights of Financial Results for Quarter Ended September 2023. The collective efforts of our employee and partners have helped Nainital Bank to stay consistent on the growth trajectory and we have witnessed substantial growth momentum across various banking parameters.

As on 30.09.2023, the Total Business of the Bank increased to Rs. 12463.98 Cr showing growth of 8.75% (Y-0-Y basis).During the Quarter, we have strong growth in deposits and advances due to our focus on customer service and improving quality across businesses. Our CASA deposits grew 6.95% Y-O-Y and there is 10.42% Y-O-Y growth on advances. The Net Profit of the Bank was 46.77 Cr w hich Is 2.46 times higher as compared to last year.

During the festival season, Bank have launched new schemes namely, “Naini Saving Platinum Account”, “Naini Current Platinum Account” & “Lakhpati Yojana” in RD accounts. Likewise, Bank has also started financing against Warehouse receipt, Vyapari support, financing to Self Help Groups etc. Bank is intensively working towards offering new innovative products both at asset and liability side and is also working towards opening Digital Banking Units for dedicated customer services.

The Bank has also carried out its social obligations and addresses environmental concerns with new vigour by actively participating and contributing to tree plantation and blood donation camps, besides donations to Hospitals, Schools, and Zoo etc. As an initiative towards Financial Inclusion and to serve unbanked rural areas, bank has launched a dedicated mobile Banking Van.

As a Bank of Uttarakhand, which was founded before independence with a sole objective to bring the huge unbanked Population of Kumaon in the banking domain, we continually strive towards becoming an integral part of the community by providing best Integrated banking services. We are committed to enhance customer services by to serving our clients with highest level of integrity, transparency and quality.

I further take this opportunity to appeal to all of you to continue to extend the same sort of support to us and I assure you that with your active support and help, we together, will take this Great Organization to a newer height.

Message for Team Naini Bank -

I believe that if we work on following mantras; no one can stop us from achieving the newer heights in our professional arena:

Generate the Leads

     Close the Deals

          Make Profit for the Units be

                Add to the profitability of the Bank

Hence, our priorities must be as under:-

I, therefore, once again appeal to all of you to keep on trying hard and fast; to further strengthen our Bank and I am sure that we together will further strengthen the vision and initiatives that our founder members and all my predecessors has taken so far.

Regards

(Nikhil Mohan)