TJSB Bank posts 4% growth in business-mix at Rs 17,016 cr
18 Aug 2020 09:23:43
Business Bureau ;
TJSB Bank Ltd has been announcing its annual audited financial results on April 10 every year. TJSB always enjoyed the distinction of being one of the very few banks to declare the audited results in such a short span after closure of the accounting year.
However, due to the COVID-19 pandemic, varying degrees of lock downs announced from time to time, travel restrictions, social distancing norms etc., the timing was thrown out of gear in the current year. Still, because of the untiring efforts of the bank’s team and also the teams of its auditors, it has completed the task successfully even while the unlock process is not completed yet. The bank’s board announced the audited financial results for the year FY 2019-20. During the year, the business-mix of the bank registered a growth of 4 per cent and stood at Rs 17,016 crore, comprising deposits of Rs 11,374 crore and advances of Rs 5,642 crore.
The bank’s net profit is at Rs 120 crore. (In the previous previous year it was Rs 141 crore). Given the stress in the economy, there is a marginal growth in the gross NPAs of the bank from 4.64 per cent in the previous year to 5.86 per cent in FY 20. The bank’s net NPA too has moved up marginally from 0.19 per cent to 0.45 per cent. The bank’s capital position continues to be very strong and its own funds are at Rs 1,191 crore. (in the previous year it was Rs 1,108 crore). The bank’s CRAR at 15.38 per cent as compared to 15.23 per cent registered in the previous year. This reflects the financial strength and the stability of the bank,says a press note.