Warangal: The Warangal Urban Cooperative Bank Limited achieved remarkable growth of 14.24 per cent in deposits, which rose to ₹219.20 crore this financial year, said chairman Errabelli Pradeep Rao at the bank’s 29th Annual General Body meeting on Sunday at a private function hall in Pochammaidan, Warangal.
Addressing the gathering, Pradeep Rao reported that loan disbursements increased by 13.20 per cent to ₹154.13 crore, bringing the bank’s total business to ₹373.43 crore. The bank recorded a gross profit of ₹3.03 crore; after paying ₹60.90 lakh in income-tax, net profit stood at ₹2.22 crore.
He noted that gross non-performing assets (NPAs) were 2.17 per cent for the year, while net NPAs were 0.79 per cent. He also assured depositors that deposits are insured up to ₹5 lakh under DICGC coverage, as per RBI regulations. During the year, the bank expanded its network by opening four new branches in Gopalpur, Mahbubabad, Jangaon, and Waddepally.
Vice-chairman T. Jaganantham and directors Venugopal, Chandramouli, Sampath Kumar, Ghousuddin, Pavan Kumar, Papi Reddy, Harinath, Ravikumar, Bhargavi, and Swapna were also present.
