Performance Highlights
Performance of the Bank for the Quarter ended 31st December, 2020
- The number of branches of the Bank stood at 154 as on 31st December, 2020. In the current financial year 2020-21 Bank has planned to open 20 more new branches. Out of which 13 branches have been opened so far.
- Deposits of the Bank stood at 7,300.66 crore as on 31/12/2020 in comparison to Rs. 7,730.00 crore as on 31/12/2019 showing decline of 5.55%. Average deposit which was Rs 7,518.05 crore as on 31/12/2019 has decreased to Rs. 7,244.26 crore registering a decline of 3.64% on Y-o-Y basis.
- CASA Deposits increased from Rs. 2,342 crore as on 31/12/2019 to Rs. 2,575 crore as on 31/12/2020, increased by 9.95%. Share of low cost deposit stood at 35.29% as on 31/12/2020 against 30.30% last year. However, the average CASA deposit has been increased from Rs. 2,190.40 crore as on 31/12/2019 to Rs. 2,396.50 crore as on 31/12/2020 registering a growth of 9.41%.
- Savings Bank Deposits increased from Rs. 2,006 crore as on 31/12/2019 to Rs. 2,207 crore as on 31/12/2020 showing positive growth of 8.60%. However, the average Savings Bank Deposit has been increased from Rs. 1,935.45 crore as on 31/12/2019 to Rs. 2,100.89 crore as on 31/12/2020 registering a growth of 8.55%.
- Demand Deposits of the Bank which was Rs. 336.00 crore as on 31/12/2019 increased to Rs. 368.00 crore as on 31/12/2020 showing positive growth of 9.52%. However, the average Demand Deposit has increased from Rs. 255.95 crore as on 31/12/2019 to Rs. 295.61 crore as on 31/12/2020 registering a growth of 15.50%.
- Term Deposits of the Bank stood at Rs. 4,722 crore as on 31/12/2020 against Rs. 5,388 crore as on 31/12/2020 registering decline of 14.10%.
Advances
- Gross Advances of the Bank increased from Rs. 4,171.00 crore as on 31/12/2019 to Rs. 4,111.00 crore as on 31/12/2020, registering a decline of 1.44%.
- Business of the Bank which was Rs. 11,901 crore as on 31/12/2019 decreased to Rs. 11,411 crore as on 31/12/2020, showing decline of 4.11%. The average Business decreased from Rs. 11, 082.06 crore as on 31/12/2019 to Rs. 10,977.40 crore as on 31/12/2020.
- C. D. Ratio of the Bank improved to 56.31% as on 31/12/2020 as against 53.96% as on 31/12/2019.
NPA
- Gross NPA’s of the Bank which was Rs. 496.67 crore as on 31/12/2019 increased to Rs. 513.81 crore as on 31/12/2020. On percentage terms, Gross NPA to Gross Advances increased to 12.50% as on 31/12/2020 against 11.91% as on 31/12/2019. Net NPA to Net Advances of the Bank stood at Rs. 142.26 crore (3.80%) as on 31st December, 2020 against Rs. 253.69 crore (6.46%) last year.
PROFITABILITY
Bank’s special emphasis in current financial year is to increase in bottom line considerably and we are taking every step to achieve this goal. The Operating Profit, which was Rs. 95.23 crore for the quarter ended 31/12/2019, increased to Rs. 100.92 crore for the current quarter ending 31/12/2020 showing acceleration of 5.98%. After making all provisions for estimated liabilities, the Net Profit of the Bank increased to Rs. 44.85 crore as on 31/12/2019, in comparison to Rs. 24.96 crore as on 31/12/2020, showing a growth of 79.69%.