Comments
The Thane Janata Sahakari Bank Ltd, the 40-year-old co-operative bank, is now known as “TJSB Sahakari Bank Ltd.”
This change will have great impact in view of its expansion beyond Maharashtra.
TJSB is also the first co-operative bank to release its new logo in London during the International Film Festival MIFTA.
The bank’s business mix crossed Rs 7,000 crore and its current and savings deposits also crossed a milestone of Rs 1,150 crore during 2011-12 and the net profit surged to Rs 60.09 crore, with operational profits of Rs 105 crore.
Despite the competitive environment, the bank registered a growth of 25 per cent in deposits to reach Rs 4,344.97 crore.
The ratio of CASA deposits to total deposits stood at 27.12 per cent as on March 31, 2012.
Rise in advances
The advances portfolio recorded an increase of Rs 648.31 crore at the growth rate of 32.55 per cent. The credit deposit ratio stood at 60.76 per cent which was 57.38 per cent at the beginning of the year.
The bank’s gross NPA remained at 2.63 per cent which is a clear indication of quality of assets in credit portfolio.
The International Business Division, which became operational in 2010, has achieved a turnover of Rs 814.02 crore with a net profit of Rs 3.48 crore. During the financial year 2011-2012, TJSB Bank opened 11 branches, including two multi-state branches at Goa and Belgaum.
Way forward
Introduction of the New Pension Scheme (NPS) under the Pension Fund Regulatory and Development Authority (PFRDA) established by the Government of India and TJSB to function as points of presence service providers through the network of branches.
The bank has also received permission from the Reserve Bank of India for starting mobile banking services and the bank has completed all the testing to start inter-bank mobile payment system (IMPS).
The bank has received approval from the Reserve Bank of India for opening branches in Maharashtra, Goa, Gujarat and Karnataka. During the current financial year, 20 branches would be opened. The business target is the Rs 10,000-crore milestone.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.