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The annual general meeting of the Nagaland State Co-operative Bank Ltd. (NStCB) is seen here in progress on January 20.[/caption]
Dimapur, Jan. 20: The annual general meeting of the Nagaland State Co-operative Bank Ltd. (NStCB) was conducted on January 20.
A press release from the organizers informed on Friday that delegates of cooperative societies from all over the state of Nagaland participated in the event.
Imtilemba Longkumer, managing director, placed the annual report of the bank. The report highlighted the performance of the bank on major parameters during the year 2015-16. He said that the balance sheet of the bank had increased from Rs.61410.51 lakh as on March 31, 2015 to Rs. 68032.08 lakh as on March 31, 2016, registering a growth of 10.78%.
Total deposits have increased from Rs.46803.74 Lakh as on 31.03.2015 to Rs.49089.70 Lakh as on 31.03.2016, registering a growth of 4.88%, the organizers stated.
Longkumer also placed on record that the Operating Profit of the bank during the year ended 31.03.2016 increased to Rs.215.92 lakh as against Rs 57.56 lakh during the year ended 31.03.2015 showing an increase of 275.12 %.
Return on Assets for the year ended 31.03.2016 improved to 9.96% as against 9.82% as on 31.03.2015. Business per Employee improved to Rs 347.87 lakh as on 31.03.2016 as against Rs312.60 lakh as on 31.03.2015 registering a growth of 11.28%. Corresponding figures for Business per Branch are ` Rs.3731.00 lakh as on 31 March 2016 as against Rs.3268.04 lakh as on 31 March 2015 recording a growth of 14.19%.
Loans and advances of the bank increased from Rs.25093.27 lakh as on 31.03.2015 to Rs.33007.65 lakh as on 31.03.2016, registering a massive growth of 31.54%, it was informed.
Further, the CD ratio of the bank which was at 53.71% as on 31st March, 2015 bounced to 67.24% as on 31st March, 2016. He said that the government of Nagaland has the largest ownership in the bank with a contribution of Rs 4191.21 lakh, constituting 70.42% of total share.
The owned fund of the bank was Rs.6671.35 Lakh as on 31 March 2016 and the estimated net worth was 2674.17 Lakh as on 31 .03.2016 as compared to Rs.2290.17 as on 31.03.2015. Consequently, the much needed CRAR of the bank which was at 9.68% as on 31.03.2015 was enhanced to 9.97% as on 31.03.2016.
Kekhwengulo Lea, the vice chairman of the bank, presided over the meeting.
During the occasion the Bank introduce two new schemes namely the Saving Premium Deposit and General Credit Card for non-agriculture purposes.