The Zoroastrian Co-Operative Bank Declared 10% Dividend For Fy 2021-22, Signed MOU With Tata – AIG General Insurance Company Ltd
The Zoroastrian Co-operative Bank AGM
Mumbai (Maharashtra) [India], August 24: The Zoroastrian Co-operative Bank, a leading Urban Co-operative Bank has shown overall excellent financial results for year ended March 2022. Bank’s net profit has increased to Rs. 431.55 lakhs from Rs.105.02 lakhs showing an impressive growth of 310.92%. The Bank has declared 10% Dividend and also made adequate provision towards Non-Performing Assets (NPAs). The Bank has made significant recovery in NPAs and brought down net NPAs to 0.70% (previous year 4.98%). Provision Coverage Ratio has improved to 94.32%. Bank has very healthy Capital to Risk Weighted Assets Ratio (CRAR) of 27.65%. The Investment portfolio of the Bank has also been managed well.
Zoroastrian Bank has chosen high end and cost effective Sof...