Kerala Bank's selection for the national award instituted by the National Federation of State Cooperative Banks (NAFSCOB) is an acknowledgement of the bank's operational excellence, Minister for Cooperation V. N. Vasavan said on Wednesday.
Addressing the bank's staff at an online function, the Minister attributed the achievement to the efficient supervision by the elected governing council, efficient banking services and recovery action and the growth in financial literacy among people.
The 'Be the Number One' campaign conducted by the bank from December 1, 2021 to March 31, 2022 helped its business grow by ₹3,205.78 crore. The non-performing assets (NPA) volume was reduced from 27.93% to 12.79%. Steps have been initiated to take it below 7% in the 2022-23 fiscal, said Mr. Vasavan.
Appointments will soon be made to existing vacancies and the newly created posts in the bank, the Minister said. Kerala Bank president Gopi Kottamurickal and the bank's executive officer P. S. Rajan also spoke.
