I am very happy to welcome you all for our Bank’s 25th ANNUAL GENERAL BODY MEETING and take pleasure to present an audited balance sheet as on 31.03.2024, profit and loss account for the year 2023-24. I am delighted to inform that the bank has showed a progress in all areas of the business with the continued cooperation and patronage of share holders, customers, Board of Directors and Staff.

PERFORMANCE HIGHLIGHTS :

Particulars 31.03.2024 31.03.2023 Amount of Increase/Variance {Rs. In lakhs} % of growth /Variance
SHARECAPITAL 476.34 439.65 36.69 8.34
RESERVES 505.73 471.56 34.17 7.24
DEPOSITS 9047.43 7399.18 1648.25 22.28
INVESTMENTS 2567.17 2363.60 203.57 8.61
ADVANCES 6346.27 5116.40 1229.88 24.03
GROSSPROFIT 472.55 336.12 136.43 40.58
NETPROFIT 156.26 120.75 35.51 29.40
PROFIT AFTERTAX 116.93 90.36 26.57 29.40
WORKINGCAPITAL 9819.53 8173.56 1645.97 20.13
BUSINESSPER
EMPLOYEE
513.12 431.57 81.54 18.89
PROFITPEREMPLOYEE 5.21 4.16 1.05 25.24
GROSSNPAs 1.51% 0.74%
NETNPAs 0.00% 0.00%
STAFFCOSTTO
GROSSPROFIT
26.59% 24.67%
STAFFCOSTTO
WORKINGCAPITAL
1.28% 1.01%
C.D.RATIO 70.14% 69.15%

BRANCHWISE BUSINESS AS ON 31-03-2024

Name of the Branch Net Profit Deposit Advances Total Business CD Ratio
Chintal 66.60 5899.58 4079.64 9979.22 69.15
Jagathgirigutta 10.88 1609.32 1053.23 2662.55 65.45
Vikarabad 8.68 829.05 588.79 1417.84 71.02
Sangareddy 709.48 624.60 1334.08 88.04
HO 30.77
TOTAL 116.93 9047.43 6346.26 15393.69 70.14

INSURANCE :

Deposits are regularly insured with D.I.C.G.C. The latest premium was paid upto (March 2024). D.I.C.G.C. had increased deposit insurance coverage for a deposits from Rs. 1.00 to Rs. 5.00 Lakhs from the financial year 2019-20. Bank also insured the cash in transit, Cash in safe and other valuables including pledged gold ornaments by way of Bankers indemnity policy, Bank fixed Assets are also insured under General Insurance.

TECHNOLOGY :

The bank has introduced the Core Banking Solutions w.e.f. Nov 2012. We have migrated from SANREG Software Pvt. Ltd. to more advanced core banking software BSG IT Soft Pvt. Ltd. The BSG core banking software is very much suited to our requirement. In order to provide better service the Bank has introduced ATM / Debit card facility to customers and RTGS/NEFT Facility (IFS Code IBKL0280KCB, UTIB0SKCUB1) to customers. The Bank is implementing Govt. of India Insurance Scheme Viz PMJJBY, PMSBY. Futher the Bank has introduced ATM / Debit Card / IMPS / E-commerce & UPI to facilitate the customers to purchase online shoppings, payment of utility bills, Bus, Train & Flight Tickets Booking etc. by using Debit Card of our Bank.

CLEARING :

Presently we are doing CTS 2010 clearing through KOTAK MAHINDRA BANK Ltd. W.e.f. 01.01.2011. Further the bank directly clearing ECS transactions through NPCI with effect from March 2016. (Host to Host facility has been implemented.)

CAPITAL ADEQUACY :

The capital to risk weighted assets ratio (CRAR)as on 31.03.2024 is 13.20% Which is much higher than required i.e. 9.00% as per RBI guidelines

CRR/SLR (Cash Reserve Ratio / Statutory Liquidity Ratio)

The bank has been maintaining the required CRR and SLR and there is no default.

RBI RETURNS :

The bank has been submitting Monthly/Quarterly/Half Yearly & Yearly Returns to RBI with in the Stipulated time & there is no default.

INVESTMENTS :

Our investments in Govt.Securities as on 31.03.2024 are Rs.1438.89 lakhs. Our FDR’s with Notified Banks and MFS are Rs.678.27 lakhs. & SRF Investments Rs 450.00 Lakhs. Where as our Bank is having current account with the TSCAB, IDBI BANK, HDCC BANK, ICICI BANK, AXIS BANK, KOTAK MAHINDRABANK, CANARABANK, which are maintained for clearing & issuing DD’s etc.

ADMINISTRATIVE EXPENDITURE :

Staff cost of the Bank is 1.28% of the working capital and 26.59% of the Gross profit as against stipulationof 2.00% & 30.00% respectively. It clearly indicates that staff cost is with in the limits as prescribed by the Government & R.B.I.
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