TJSB Bank also made a profit of Rs 163 crore during the Corona period
Mumbai: During the Corona period, TJSB Bank has made a strong profit of Rs 163 crore during the year, the bank’s chairman Vivekananda Patki said today.
Reviewing the bank’s performance throughout the year, Patki said that in the financial year 2020-21, the bank’s deposits increased by Rs 675 crore to Rs 12,049 crore. Among the loans given by the bank, a very small amount of Rs. 10 crore to Rs. 5,631 crores. The bank’s gross non-performing loans stood at Rs. 330 crore (5.86%) to Rs. 237 crore (4.23%). The net non-performing loans of the bank are 0%. Most importantly, the bank’s net profit rose to Rs. 120 crore (31.03.2020) to Rs. 163 crore (31.03.2021), an increase of Rs.
He said the lockdown had begun this fiscal year due to the Corona disaster. All industries were closed for a long time due to various restrictions. There were limits to business growth. Against this backdrop, the Board of Directors of TJSB outlined the course of action for the financial year with customer interest at the center. Provided liquidity to all customers at minimum interest rates immediately. Considering the strain on the profits of the borrowers, the bank offered attractive and effective discounts in interest rates to regular repaying customers. The bank took a cautious stance while approving new loans. As a result, the quality of bank loans remained good despite a nominal decline of Rs 10 crore in total loans. He also said that the bank has recorded record profits this year due to appropriate changes in interest rates on deposits and loans from time to time.
As 2021-22 is the golden jubilee year of the bank, the bank plans to hold various events throughout the year.