CCBL Jammu registers profit for year 2020-21


Jammu: After 3 years of consistent loss, the Citizens’ Cooperative Bank Ltd. Jammu has registered profit for the year 2020-21 by way of effecting recoveries and reducing ever mounting NPAs.

Combating the odds and pressures of ongoing scenario, the Citizens’ Cooperative Bank Ltd. Jammu, while putting in strenuous efforts to improve its financial condition has been able to attain the stage of having booked operating profit of Rs.2.86 lakh in the financial year 2020-21 as compared to operating loss of Rs.108.56 lakh in the immediate preceding year 2019-20

By launching various drives for maximizing recoveries, the Recovery Teams were constituted and weekly progress was monitored by the Board of Administrators of the bank under the Chairmanship of Dr. Arun Manhas, alongwith Board members C.A Rajat Mengi, Senior Advocate Deepika Mahajan and Assistant Vice -President of J&K Bank Ltd, Rajnish Mahajan.

The bank, under the management of Board of Administrators, initiated action against the defaulters under provisions of SARFAESI Act 2002 and were able to cause the recoveries of Rs.685.81 lakh in NPA accounts during the financial year 2020-21 out of which recovery of Rs.273.26 lakh was made in the month of March 2021 itself.

Inspite of COVID-19 restrictions, the bank has improved its financial health and registered operating profit for the year 2020-21. However the bank is still grappling with the issue of higher NPAs.

Taking further steps to improve the financials of the bank and to comply with RBI guidelines, the present management also initiated various steps to improve the financials of the bank for sustaining and registering further improvement in all the segments. It is worthwhile to mention here that in the previous tenure of Dr.Arun Manhas as Chairman of CCBL, the Bank in the year 2016-17 registered profits and now again the bank has again registered profits after three years on assuming by him as Chairman of the Board of Administrators appointed by the Registrar Cooperative Societies, J&K.

CCBL has succeeded in making profits as the outcome of endeavours of Bank’s Board of Administrators by having constituted special recovery teams, keeping case to case regular monitoring to arrest/ stop the slippage of bank’s loans to NPAs and their specific focus on recovery portfolio which apart from others also included the requisite decision making for settlement of chronic default loans and causing recovery by disposing/ auctioning of seized properties of the defaulters under SARFAESI Act including auction of Cars/Vehicles etc. seized by Bank to recover the default amount.

The present management of the Board of Administrators headed by Dr. Arun Manhas complemented the CCBL team of senior officers and its staff for bringing the improvement in the financials of the Bank and motivated them to continue with same zeal and hard work.


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