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 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