MUMBAI, April 10, 2018 /PRNewswire/ --

TJSB Sahakari Bank Ltd. is happy to announce its audited financial results for the F.Y. 2017-18 on 10th April 2018. The business mix of the bank stands at INR 15,340 crore, which is a 6.89% increase over the last year. The aggregate deposit of the bank has registered a growth of 5.60% there by increasing the deposits to INR 9875 crore as against the previous year's deposit of INR 9351 crore. The advances of the bank grew @ 9.30% to INR 5465 crore from the previous year's figure of INR 5,000 crore. Profitability of the bank improved during the financial year both on revenue and cost parameters. Gross profit of the bank registered a growth of 19.53% and reached at INR 202 crore as against INR 169 crore last year. Net profit has also registered a growth of 23% and reached INR 126 crore as against INR 102 crore last year. The bank's own funds have also grown to INR 1,001 crore, which is INR 126 crores more than last year, with the growth rate at 14.40%. The bank's gross NPA is 4.75% and bank's Net NPA is 0.22%. Bank's capital adequacy is at 14.20% as against last year's 13.82 %.

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Chairman C. Nandagopal Menon's Statement: 

Indian economy witnessed three structural reforms during F.Y. 2017-18 viz. Bank Capitalisation, Insolvency Resolution and GST. The task of unlocking the full growth potential of the economy has started in the last quarter of F.Y. 2017-18. Against this backdrop, TJSB's performance has been very satisfactory. During the year, the bank opened nine branches including one at Indore, Madhya Pradesh. The bank now has its presence in five states viz. Maharashtra, Gujarat, Goa, Karnataka and Madhya Pradesh through its network of 136 branches. 

Bank could achieve these milestones only because of the never ending support and faith reposed by the customers, shareholders, well-wishers and of course team TJSB.

TJSB is completing its 50 years in 2022 and has kept a vision of achieving a business-mix of INR 25,000 crores through 200 branches.

MD & CEO Sunil Sathe's Statement: 

"When the going gets tough, the tough get going".

With this in mind, TJSB has converted every challenge into an opportunity and achieved new landmarks.

The bank has maintained the perfect balance of growth and trust. The main attributes of TJSB's success are transparent working, effective and optimum use of technology, professional management and a motivated work force.

About TJSB Sahakari Bank Ltd.

Based on trust and quality services, TJSB Bank, established in the year 1972, has been gaining solid ground over the past 47 years. From its humble beginnings in Thane, we are now a leading multi-state bank with a network of 136 branches spread across the states of Maharashtra, Karnataka, Goa, Gujarat and Madhya Pradesh, powered by our customer-centric approach, strong moral values and desire for quality. Always committed to providing our customers with the ultimate wealth of services, we've ventured beyond banking into FOREX, Life Insurance, Mutual Funds and Depositories.

The bank has been guided on its path of success by a very highly educated Board of Directors headed by the Chairman Mr. C. Nandagopal Menon with Mr. Sunil Sathe the MD & CEO of the bank at the helm of the Operations.

For more information visit http://www.tjsbbank.co.in or contact:

Kishor Juvekar
E : kishor.juvekar@tjsb.co.in
T : +91-22-21748660
M: +91-8691062793

Rekha Arya
E : rekha.arya@tjsb.co.in
T : +91-22-21748669
M: +91-8291819172



Source: TJSB Sahakari Bank Ltd