Excelsior Correspondent
JAMMU, Apr 12: Devika Urban Co-operative Bank (DUCB) Limited has claimed to earn a gross profit of Rs 1.25 crore in the financial year ended March 31, 2018, against a figure of Rs 80 lakh during last financial year 2016-17.
The deposit and advances of the bank has also shown an increasing trend. The deposits of the bank were increased by 7.31 % and stood at Rs 66.76 crore as on march 31, 2018 while advances stood at Rs 46.33 crore with an increase of 19.05%. The CD ration of the bank is strengthened and increased to 69.40%. CRAR of the bank is 12.17 % against RBI minimum prescribed limit of 9 %.
The Chief Executive Officer of the bank, Rakesh Sharma, and Administrator, Naresh Kumar, attributed this impressive result of the bank to strenuous efforts put in by the staff members with the guidance of RBI and Co-operative Department.
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