Bad loans of Jammu Central Cooperative Bank reduced to Rs 72 crore in 2023 – Dainik Savera Times
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Jammu : Jammu Central Cooperative Bank (JCCB) has turned profitable after a gap of three decades, registering a profit of Rs 0.28 crore in FY 2022-23. The bad loans of the bank reduced to Rs 72 crore in 2023. In 2021 it was Rs 110 crore.
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Senior JCCB official Reetu Sharma said, “The bank has also seen an increase in its net profit as it was incurring a loss of Rs 12.40 crore till March 2021. However, at the end of the financial year 2022-23, the bank recorded a profit of Rs 0.28 crore after a gap of three decades.” He said that the investment figure in the last two years has also increased from Rs 856.20 crore in March 2021 to Rs 1,015.61 crore in September 2023. It has become crores of rupees.
Officials said that due to the recovery of non-performing assets (NPAs), the bad loans which were Rs 110 crore in March 2021 (37 percent of total advances) will be reduced to Rs 81.00 crore (29 percent) in March 2023 and Rs 72.00 crore in September 2023. Helped to do.
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