PROGRESS. GROWTH. SAFETY.

Your Bank has always taken special and consistent efforts to overcome trials and tough situations. The Covid-19 pandemic has had a grave, wide-ranging impact worldwide. Global markets shuddered and crashed, foreshadowing months of economic pummeling. As shutdowns became the norm, life as we knew it changed completely. Just as we thought we had turned a corner, the 2nd Covid-19 wave is upon us, more aggressive and virulent than before, and has triggered a threat of renewed economic downturn with attendant lockdown restrictions.

In 2016, due to demonetization, the informal sector was badly affected and 2017 saw unevenness in implementation of the GST bill. This, followed by the outbreak of Covid in 2019, has impacted the performance of the banking sector in general. In spite of this, by maintaining adequate safety measures, the Bank was able to move to ₹ 67,042.31 crore in 2021. Even at the height of the pandemic, your Bank has delivered commendable growth results, keeping all banking parameters intact, in fact with some even improved over the last year. For FY 2020-21, the Bank’s Net Profit is ₹ 270.24 crore. While most banks are waging war with NPAs, our position is confidence boosting! Our Net NPAs are at a low level of 1.04%. Thus, the Bank has posted excellent business figures, with strong key financial parameters. Initiatives such as revamp of the Retail Banking Department of the Bank; tailor-made schemes for small businesses and start-ups; greater emphasis on financial inclusion and Self Help Groups thereby ensuring economic upliftment of women; concentration on Product Development, Business Development and Customer Engagement; improvisation in Tab Banking; Migration to new Core Banking Solutions platform, have all yielded fruit.

As the pandemic has shown, technology helped in keeping organizations up and running. From technological adoptions to new age digital products, we have constantly pushed the envelope. Your Bank has proactively embraced bestin-class technology and industry-best practices. It has matched strides with India’s digital revolution through a varied range of paperless, user-friendly, techenabled initiatives. Also, during the pandemic, fraudsters adopted different methods to attack users’ systems/devices. Your Bank has a dedicated Information Security Department, headed by the Chief Information Security Officer (CISO), to monitor overall Information and Cyber Security for the Bank. Additionally, in an effort to help customers prevent fraud and stay safe and vigilant, the Bank recently came out with an educative safety video in public interest, thereby ensuring Progress and Growth with Safety.

The other aspect of safety is the financial health related safety of your Bank. We have made more than adequate provisions to ring-fence ourselves from further slippages, especially in the context of the economic uncertainty which has seen many businesses stressed even today. With these provisions, the Bank can safeguard itself to withstand any such onslaught so that its financial performance remains solid and intact. Over the 100 plus years of our existence, so much has changed and there has been much growth and development – far beyond what our Founders could have envisaged! Through our focus on professionalism, excellence and innovation, we shall continue to grow and fulfil the evolving needs and expectations of our customers with unwavering commitment and resolve.

To PROGRESS, GROWTH & SAFETY, we rededicate ourselves.