Rourkela: The state-run Urban Co-operative Bank Limited (UCBL) here is going to be digitised soon as the bank authorities have already cleared the required formalities in this regard. About the digitisation work which is in full swing, UCBL president Dillip Mohapatra Tuesday stated that bank digitisation work has been on the fast track. “We are going to digitise the functioning of the bank so that our esteemed customers can avail net banking, ATM and other state-of-the-art facilities seamlessly,” Mohapatra asserted.
The bank has made a total profit of Rs 3 crore, he said adding, that UCBL is unable to pay dividend to its investors owing to an instruction issued by the Reserve Bank of India (RBI). Speaking about the performance of the bank, Mohapatra said most of the parameters are better in comparison with the previous year.
Currently, the total paid share capital of the bank stands at Rs 727.81 crore and the number of members at 21,207. “As of now, we have deposits worth over Rs 154.11 crore in the bank,” the bank president said. The bank has loans and advances to the tune of more than Rs 113.29 crore and has no borrowings from anywhere. However, the financial institution has invested more than Rs 62.78 crore and has reserves of over Rs 30.63 crore. “We have brought down the net nonperforming asset (NPA) to 2.01 per cent, which was 4.01 per cent in 2023. And our gross NPA stands at 18.43 per cent for the year 2024, against 18.63 per cent in the last fiscal,” he stated. Moreover, UCBL’s collection percentage for the year 2024 has gone up to 86.98 per cent from the previous year’s 84.09 per cent. At present, the bank’s net worth stands at Rs 11.97 crore.
