Kerala Bank distributed loans to the tune of ₹40,950.04 crore in the last financial year (2021-22), said Minister for Registration and Cooperation V.N. Vasavan here on Wednesday. Addressing the press meet here on Wednesday, Mr. Vasavan said that Kerala Bank could register a robust growth in investment mobilization and loan disbursement in the last financial year. The bank has received deposits to the tune of ₹69,907.12 crore during this period from the ₹66731.61 crore clocked in the previous fiscal.
The bank has also registered business growth of ₹4,460.61 crore in the last fiscal, while the bank’s total business turnover was ₹1,10,857.15 crores in the previous financial year. Pointing out the impressive performance of the Kerala Bank, which was formed in November 2019, in the past two years, Mr Vasavan said Non-Performing Assets (NPA) was reduced from 14.47% in 2021 to 13.35% on 31st, March 2022. The actual NPA was ₹5,738.60 crore, which has been brought down to ₹5,466.54 crore now.
Similarly, the income of the bank has also increased from ₹5,933.24 crore in 2020-2021 to ₹6,349.49 crore in the last fiscal. The Minister also announced the ‘Be the Number One’ awards of the Kerala Bank at the press meet. Kozhikode office was selected as the best regional office, while Kozhikode is also the best credit processing centre. The award consists of a Minister’s trophy, a plaque and ₹3 lakh. Koyilandi in Kozhikode district and Kenichira in Wayanad district shared the award for the best branch in the State. The award carries a Minister’s Trophy, a plaque and a cash award of ₹2 lakh.
