TJSB Bank, one of the leading multistate scheduled co-operative banks in India declared its audited financial results on April 9 for the financial year ended 2022-23. On the occasion, TJSB Bank Chairman Sharad Gangal announced the bank’s progress and highlighted the key areas that have been core to its success at a press conference. “At the onset of the 51st year, the bank achieved a business mix of Rs 20,954 crore for financial year ended 2022-2023,” he said.

Gangal further added, “Bank deposits increased from Rs 13,336 crore to Rs 13,743 crore over the previous year. Similarly, the bank’s loan portfolio increased from Rs 6,723 crore to Rs 7,211 crore. The gross profit of the bank has also increased from Rs 237 crore to Rs 291 crore. Net profit increased from Rs 155 crore to Rs 173 crore. The gross non-performing assets stood at 3.99% and net non-performing assets are at 0%”.

Commenting on the results, the Managing Director and CEO of the bank Sunil Sathe said, “The significant profit growth of the bank is mainly due to effective interest rate management of recovery and dedication of officers and employees along with the professional approach of the Board of Directors. As per Reserve Bank of India (RBI) policy, the bank has focused on disbursing loans of Rs 1 crore and below.” The Vice Chairman of TJSB Sahakari Bank Ltd, Vaibhav Singavi and the Board of Directors and Executives of the bank were also present at the conference.