Uttar Pradesh’s apex bank Uttar Pradesh State Cooperative Bank (UPCBL) has registered growth on all the financial parameters in the 2020-21 financial year. The bank crossed the total business of Rs 17k crore and earned a net profit of Rs 45 crore, amidst Covid-19.
From earning profit to increasing its deposit base to disbursing loan to controlling NPA, the bank has shown a remarkable performance. While other co-operative banks are grappling with the problem of NPA due to Covid-19, UPCBL has once again been able to control its NPA level.
Talking to Indian Cooperative the bank’s Managing Director Bhupendra Vishnoi said, “There is no adverse impact of Covid-19 on our business, we were able to perform better in the 2020-21 FY with the support of our members and management.”
“Our deposit base increased from Rs 7,379 crore to Rs 8,322 crore whereas loans and advances rose from Rs 8,115 crore to Rs 8,710 crore as on 31st March 2021?, he said while sharing the unaudited figures with the Indian Cooperative correspondent.
The total business of the bank spiked from Rs 15,494 crore to Rs 17,032 crore. Our bank has earned a net profit of Rs 45.47 crore and earlier it was Rs 43.28 crore. The bank is having 27 branches across the state, Vishnoi added.
He further added that ”we had applied for internet banking but in the wake of some objection, RBI asked us to rectify it. For this we have to take the approval of the board and we hope that in the couple of months we will be able to give the internet banking facility to our customers.
Besides, RBI has given approval for opening 13 branches and we will open it in a few months. UP State Co-op Bank is also running the Mobile Van with an objective to give services remote areas where banking is not there.
Readers would recall that last year Uttar Pradesh Cooperative Minister Mukut Bihari Verma inaugurated the Uttar Pradesh State Cooperative Bank’s newly renovated Agricultural Cooperative Staff Training Institute.
