Devika Urban Cooperative Bank Udhampur records impressive growth in 2016-2017

Newspoint Bureau
Jammu Tawi, April 11
Devika Urban Cooperative Bank Udhampur which is one of the leading urban cooperative Banks of state continues to make strides in its business operations and has crossed the total business of Rs 100 crores as on March 31, 2017. This was disclosed in the meeting of Board of Administrators which comprises of Administrator of the Bank Kapil Deol and Member Secretary Rakesh Sharma (Chief Executive Officer) along with Admin Manager Rajiv Sharma, held today. The Bank has also earned a gross profit of approx Rs 80 lakh during the financial year 2016-2017 which is the highest ever since its inception. Bank deposits have shown a tremendous increase of 25.10% and stood at Rs 62.21 crore. The advances figure has jumped to Rs 38.96 crore with an increase of 26.42% as on March 31, 2017.
CD ratio of the bank has also shown a marginal increase and stood at 62.63% and the capital and the reserves of the Bank also showed increasing trend & registering an impressive growth.
The Administrator congratulated the Staff and appreciated them for the hard work and strenuous efforts they have shown. He also thanked all the shareholders and customers of the bank for their faith and contribution towards the bank to make it one of the best banking institution of Udhampur and state as well.

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