Karnataka, which ranks among the states with the highest number of Urban Cooperative Banks (UCBs), recorded a business mix exceeding Rs 81,000 crore in the 2023-24 financial year.
The combined deposits and loans & advances of the urban cooperative banks in Karnataka stood at Rs 47,043 crore and 34,012 crore as of 31st March 2024. The total business mix of these UCBs stood at Rs 81,055 crore.
These banks earned a combined net profit to the tune of Rs 465 crore in the 2023-24 FY. There are 252 urban cooperative banks in Karnataka, having a branch network of 1105. The number of employees is around 8300.
Besides, the working capital of these UCBs stood at Rs 57,716 crore and gross NPA at 9.89 percent. The total reserves and other funds of these UCBs stood at Rs 7,037 crore in the 2023-24 FY.
In a recently conducted AGM of the Karnataka UCBs federation Chairman HK Patil urged the urban cooperative banks of the state to come forward to contribute towards the NUCFDC, which acts as an umbrella organization for UCBs.
The data of UCBs are published by Karnataka UCBs federation.
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