Dombivli Bank Keeps It’s Tradition Of Increasing Annual Profits, While Celebrating It’s Golden Jubilee Year

Dombivali Nagari Sahakari Bank has a tradition of increasing profits every year since inception and the last financial year was no exception in spite of the Covid pandemic. For the financial year 2019-20, it has earned net profit of Rs 38.82 crores after making all provisions. The annual report of the bank has been published on its website. As this year's annual general meeting is a golden jubilee meeting, the bank is making all efforts to plan the meeting as soon as possible in the presence of the members with necessary permissions and due care.

As per the audited figures for the financial year 2019-20 the bank had deposits of Rs. 4,287 crores, advances of Rs. 2,658 crores and investments of Rs. 1,227 crores. The Business Mix stands at Rs 6,945 crores. In the same financial year, Rs 39 crores have been recovered from written off advances.

To help its customers during the current financial crisis caused by the corona induced lock down, the bank has introduced a variety of low interest rate loan schemes for individuals as well as for small and medium enterprises.

Similarly, interest rates on home, vehicle and gold loan schemes have been reduced substantially and the response from customers is positive and encouraging. Besides offering low interest rates, the bank has simultaneously resorted to a number of austerity measures in order to maintain profitability.

Considering the need to maintain social distance, the bank has also adopted a policy of promoting mobile banking to avoid congestion at branches. In addition, the corona shield insurance policy has been made available for customers.

Considering the number of corona affected patients in the city of Dombivli and the shortfall in supply of oxygen due to heavy demand, DNS Bank has handed over oxygen making machines for needy patients to Anita Patient Support Center, Dombivli.

The bank has donated Rs. 32 lakh to P.M.. Care Fund, Chief Minister's Assistance Fund and R.S.S. Janakalyan Samiti as its contribution in fighting the pandemic. Also, considering the operational risks involved in banking today, it has provided Mediclaim Policy of Rs 1 lakh for corona treatment to all employees of the bank, thus reiterating its commitment to the welfare of employees.

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