Repco Bank business crosses ₹15,000 crore
Repco Bank, a cooperative bank under the administrative control of the Ministry of Home Affairs, today announced that its business has crossed ₹15,000 crore in FY19, with total deposits of ₹8,669 crore and advances of ₹6,337 crore.
Established in 1969 with the prime objective of rehabilitating repatriates from Sri Lanka, Burma and Vietnam, the bank has a unique reputation of catering to the repatriate community. With presence in 108 centres and 10-lakh customers, this cooperative sector bank has a strong financial net worth of around ₹800 crore.
In the past five years, it has recorded profit after tax of ₹100-crore-plus. For FY2018-19, it expects to post a profit of more than ₹110 crore.[“source=thehindubusinessline”]