Who we are
It was in the year 1983, when a humble idea to provide banking facilities to the socially deprived people of hilly region of the then Uttar Pradesh culminated in the birth of The Kurmanchal Nagar Sahkari Bank Ltd with the far-sighted vision of luminaries like Sri Madan Lal Sah and Sri Chandra Lal Sah Thulgharia.
The Kurmanchal Nagar Sahkari Bank Ltd., situated in Nainital in Uttarakhand started banking operations from 1st January 1983, after receiving license from Reserve Bank of India to carry on banking business. The Bank started operations on the principle of social commitment to help the weaker sections of the society in their economic endeavors to raise their standard of life.
As the years glide by, the Bank stands committed to honor the social commitments of the founding fathers.
Our Vision, Mission & Values
Vision
To be the go to bank and deliver best of banking services
Mission
Provide simple easy and progressive banking solutions
Values
Integrity, Transparency, Customer friendly, Team spirit
Board of Directors
The pillars of our bank
MR. VINAY SAH
Chairman
Qualification : B-Tech ( IIT Kanpur) , PGDM (IIM Kolkatta)
Business/Profession: Joint Managing Director Lohia Starlinger Ltd
MR. SURESH KUMAR JAIN
VICE CHAIRMAN
Qualification : Intermediate
Business/Profession: Contractor & Social worker
MR. LALIT KUMAR SAH
PROFESSIONAL DIRECTOR
Qualification: Post- Graduate, CAIIB
Business/Profession: Ex-Banker
MR. KESHAR SINGH MEHRA
PROFESSIONAL DIRECTOR
Qualification : Post- Graduate, CAIIB
Business/Profession: Ex-Banker
MR. PRABHAT KUMAR CHAUDHARY
DIRECTOR
Qualification : Post Graduate (MA), LLB
Business/Profession: Advocate, Chairman Bar Council of Uttrakhand
MR. GIRISH CHANDRA PATHAK
DIRECTOR
Qualification : Post Graduate in Commerce
Business/Profession: Contractor
MR. SUBHASH CHANDRA
DIRECTOR
Qualification : Graduate (BA)
Business/Profession: Hotel Business
MR. PITAMBAR DATT PANT
DIRECTOR
Qualification : Post-Graduate in Political Science
Business/Profession: Business
MR. RAGHURAJ SINGH
DIRECTOR
Qualification: Post Graduate in Economics
Business/Profession: Ex-Banker (AGM State Bank of India)
MR. RAJEEV CHANDRA GUPTA
DIRECTOR
Qualification: Diploma In Engineering
Business/Profession: Trader, Govt Approved Electrical Supervisor
MR. AMIT KUMAR GARG
DIRECTOR
Qualification: Intermediate
Business/Profession: Industrialist-Rice & Pulses Plant
MR. SHAILENDRA PANT
DIRECTOR
Qualification: LLB, MBA
Business/Profession: Self Employed
DR. KEDAR PALARIYA
DIRECTOR
Qualification: MA POLITICAL SCIENCE, MA HISTORY, LLM,UGC NET, PHd
Former Assistant Professor Government Law College Gopeshwar Uttrakhand
Principal Basudev College Of Law PG Lamachor Haldwani Nainital Uttrakhand
Business/Profession: Self employed & Social Worker
MRS. SANGEETA SAH
DIRECTOR
Qualification: Post Graduate & B.Ed
Business/Profession: Service in Education Department, Principal
MRS. URMI SAH
DIRECTOR
Qualification: Post Graduate in English Literature
Business/Profession: Director Himalaya & Pavilion Holidays Pvt Ltd
Board of Management
The guiding lights of our bank
MR. RAGHURAJ SINGH
CHAIRMAN
Qualification: Post Graduate in Economics
Business/Profession: Ex-Banker (AGM State Bank of India)
MR. VINAY SAH
MEMBER
Qualification : B-Tech ( IIT Kanpur) , PGDM (IIM Kolkatta)
Business/Profession: Joint Managing Director Lohia Starlinger Ltd
DR. KEDAR PALARIYA
MEMBER
Qualification: MA POLITICAL SCIENCE, MA HISTORY, LLM,UGC NET, PHd
Former Assistant Professor Government Law College Gopeshwar Uttrakhand
Principal Basudev College Of Law PG Lamachor Haldwani Nainital Uttrakhand
Business/Profession: Self employed & Social Worker
DR. RAJNEESH PANDEY
MEMBER
Qualification: Phd in Economics
Business/Profession: Professor at Kumaun University
MR. AMEET JOSHI
MEMBER
Qualification: Post Graduate (Agriculture)
Business/Profession: Ex Banker
Mr. Devendra Lal
MEMBER
Qualification: Graduate
Business/Profession: Hotel Business
Message from Chairman
Dear Friends
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 acknowledge the unstinted support of our shareholders whose trust we have earned over the years in the promotion of our business.
Moving ahead in our journey we will continue providing added value to our customers, employees, industry and society while leaving behind a legacy that will be remembered for building relationships on the basis of trust rather than just business.
The most valuable asset of our organization are our 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, Board of Management and employees for all the accomplishments. It is my pleasure to inform you that at the close of FY March 2024 we recorded a Gross Profit of Rs 39.30 crores and net profit of Rs 23.00 crores with a Total Business of Rs 3,866.67 crores.
I am grateful to all our stake holders for their cooperation and look forward to your continued support and patronage.
Sincerely
Vinay Sah
(Chairman).
Message from CEO
Dear Friends
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 45 branches spread 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, 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 March 31, 2024.
- The Bank’s total business at the end of FY 2024 was Rs. 3,866.67 crores, registering growth rate of 7.71% on year-on-year basis.
- The Bank’s deposits recorded a growth rate of 5.68% during the year by reaching Rs. 2,482.05 Crores.
- The Bank’s advances recorded a growth rate of 9.77% during the year by reaching Rs. 1,384.62 Crores.
- The Net Profit for the year stood at Rs. 23.00 Crores.
- The Capital to Risk weighted Assets Ratio (CRAR) as on 31st March 2024 was 20.56%.
- The Gross NPA of the Bank at the end of FY 2024 stood at 2.30% of total Loan and Advances which was a commendable achievement.
I am thankful to the Board of Directors, Board of Management, 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 retail bank 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