I am fortunate to work in an industry which gives the rare opportunity of working towards creating socio-economic justice by providing an environment of equal economic development opportunities.The Banking Industry also caters to the changing aspirations of our society. As we move towards our vision and mission to provide the best possible banking experience by combining technology with attentive personal service we aspire to become the leading retail bank of Uttrakhand.

In pursuit of our objective and mission we recognise the importance of upholding best practices in the industry, responsible business conduct, and meaningful contribution towards the society. We humbly acknowledgethe unstinted support of our shareholders whose trust we have earned over the years inthe promotion of our business.

Moving ahead in our journey we will continue providing added value to our customers, employees, industry and society while leaving behinda legacy that will beremembered forbuilding relationships on the basis of trust rather than just business.

The most valuable asset of our organization areour employees. While depending on their skills and potential we aim to create prosperity, harmony and happiness among the employees so that they succeed and improve their quality of life at the same time.

We seek to maximize the best values while trying to meet the expectations of our shareholders, customers and well wishers. I would like to express my sincere appreciation to the Board of Directors and employees for all the accomplishments. It is my pleasure to inform you that at the close of FY March 2022 we recorded a GrossProfit of Rs 34.09 crores and an all time high net profit of Rs 21.56 crores with a Total Business of Rs 3,515.31 crores.

I am grateful to all our stake holdersfor their cooperation and look forward to your continued support and patronage.

Sincerely

Vinay Sah
(Chairman).

With a humble idea to provide banking facilities to the socially deprived people of the region The Kurmanchal Nagar Sahkari Bank Ltd Headquartered at Nainital started banking operations from 1st January 1983, after receiving license from Reserve Bank of India to carry on banking business. The Bank provides a wide range of products and services to individual customers, commercial enterprises, public bodies and institutional customers through its 41 branchesspread across the state of Uttrakhand. The Bank has been continuously evolving, adopting latest technology and providing alternate delivery channels to its valued customers.

As we evolve ourselves as a strong retail bank, our journey towards realizing our goals continue to be focused on our customers’ needs, creating a safe workplace for our team, and creating a strong return on investment.

Our performance this past year, in light of the prolonged pandemic and challenging interest rate environment, produced another year of strong financial results. We were able to strengthen our capital position, deliver profitable growth, and reduce our NPAs.It is a great pleasure for me to place before you, our financial results for the year ended Mar 31, 2022.

• The Bank’s total business at the end of FY 2022 was Rs. 3,515.31 crores, registering growth rate of 8.81% on year-on-year basis.
• The Bank’s deposits recorded a growth rate of 7.21% during the year by reaching Rs. 2,208.72 Crores.
• The Net Profit for the year stood at Rs. 21.56 Crores.
• The Capital to Risk weighted Assets Ratio (CRAR) as on 31st March 2022 was 17.55%.
• The Gross NPA of the Bank at the end of FY 2022 stood at 2.38% of total Loan and Advances which was a commendable achievement.

I am thankful to the Board of Directors, share holders, valued customers, well wishers and to all the employees of the bank for their support and trust. As we look ahead to the coming year, our position as a retailbank continues to be strong. We will continue to honor the safe and conservative principles that have served us well over the years. Our website provides complete information about Bank’s products and services. We look forward to building a long lasting partnership with you and your family.

Akshay Kumar Sah

CEO