Himachal CM Sukhvinder Singh Sukhu to inaugurate new head office of Jogindra bank

Solan, August 16

Jogindra Central Cooperative Bank Limited will turn 100 on August 20. Chief Minister Sukhvinder Singh Sukhu will preside over the centenary celebrations and inaugurate the new head office of the bank.

A meeting of the bank’s governing body was held recently under the chairmanship of Mukesh Sharma. He emphasised on reducing the non-performing assets (NPAs), increasing deposits and loan distribution. Around 95 agenda items were discussed in the meeting.

He said last year’s net profit of the bank was Rs 19.71 crore, while the gross NPA was down to 3.54 per cent from 7.94 per cent. The current and savings account ratio has registered a slight decrease to 40.21 per cent in the current year as against 42.97 per cent recorded in the previous year. An increase has also been registered in the bank’s net worth, pointing towards its good financial health.

The capital adequacy ratio, which is a measure that shows the amount of capital a bank holds in relation to its risk-weighted assets, has also increased to 15.57 per cent this year from 14.98 per cent last year. The ratio ensures that banks have enough capital to absorb potential losses and avoid insolvency. — TNS