AISBOPEF Circular No. 21/2014

 

JCC MEETING WITH THE mANAGEMENT ON 5TH MAY 2014 – DECISIONS

 

JCC Meeting with the Management was held on 5th May 2014. Despite various business constraints Federation succeeded in achieving some of the significant benefits. But it is the high time to introspect that our Bank’s performance has drastically affected. Profit came down from Rs 666.70 Cr as on 31.03.2013 to Rs 447.60 Cr.  as on 31.03.2014. Resultantly our staff welfare fund which is 3% of the net profit, has also declined by Rs 1.60 Cr. Gross NPA has increased from Rs 2453.04 as on 31.03.2013 to Rs 3758.35 as on 31.03.2014. Market share & NIM has also declined. Certainly due to efforts made by all sections of staff results in the last quarter were improved to some extent. In order to arrest deterioration in this financial year a hard task is required to be performed especially in NPA recovery, opening of new Saving Bank Accounts  & Current Accounts to increase CASA deposit,  increase in retail advances,  to provide complaint free customer service and to work as a team is the need of the hour.  We therefore request you to extend full cooperation in the development of business to bring back the past glory of our beloved institution.

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