Kerala Bank registered a business growth of ₹5,631 crore during the last financial year.
The bank's business turnover of ₹1,06,396 crore during the year 2020-21 grew to ₹1,12,028 crore during 2021-22, said Minister for Registration and Cooperation V.N. Vasavan here.
The volume of deposits in Kerala Bank grew from ₹66,731 crore during 2020-21 to ₹69,940 crore during 2021-22. Loan disbursals grew from ₹39,664 crore to ₹42,087 crore between the two financial years.
The growth was recorded despite the restrictions in business imposed by the COVID-19 pandemic and the performance had strengthened the hands of the bank, he said.
The bank's NPA was reduced from 27.93% in November last year to 12.79% in March this year. The actual NPA was ₹11,394 crore, which was brought down to ₹5,381 crore. Current and Savings Accounts deposits rose from ₹7,166 crore in November last year to ₹9,947 crore in March this year.
One of the key interventions during the COVID-19 pandemic period was the ‘Be The Number One’ campaign launched by the bank between December 1 last year and March 31 this year.
The campaign resulted in NPA reduction and growth in business that included increase in gold-based lending. The campaign also helped increase the confidence of the public in Kerala Bank.
While loan melas were held in several places, there were also customers' meet as well as introduction of one-time settlements to reduce non-performing assets. The bank had also introduced special loan schemes for small industries and owners of buses, who were hard hit by the pandemic.
