Reviews Bank Performance
The Chairman of the J&K State Cooperative Bank Ltd. Srinagar Mr. M. S. Dar, while taking a review on the working of the Bank expressed satisfaction on the performance of different financial parameters including deposits, loans and advances profits and investments during the financial year ended 31st March,2013.The Bank deposits, which crossed the Rs.600 Crore mark and a record disbursement of loans during the period, put the Bank on course for achieving a record figure of profit .The financial year also witnessed issuance of record number of KCC cards consequently making a record disbursement of crop loan.
The Bank’s Core Banking programme under NABARD facilitated project, which is nearing completion, is also expected to pave way for installation of ATMs in area where the Bank operates its business, thereby improving services to its customers .Consistent profitability of the of the bank over the years have heralded a new era in the bank’s history as a result of which all key ratio’s have registered improvement over the past.
The Bank’s investment portfolio has equally grown in size over the years. Being a licensed Cooperative Bank, its accounts are now being audited by the Chartered Accountants.
The Bank has in place an elected Board of Directors, to be in tune with the principles of Cooperative Movement .During the period under review, an Annual General Meeting was also conducted after a long gap.
The Chairman ,noted with satisfaction that the results so achieved were possible due to the consistent and sustained efforts of the Bank employees whose long lasting commitment to Bank’s customers and stakeholders has remained abiding.