HCBL net doubles to Rs 239 lakh

Lucknow, Apr 5 (UNI) The Hindustan Co-operative Bank Limited (HCBL), a new generation co-operative bank, has doubled its net profit to Rs 239 lakh for 2005-06, as compared to previous year's net profit which stood at Rs 112 lakh.

HCBL Chief Executive Officer Pawan Kapoor said here today that the Bank's customer base was fast increasing and its turnover during 2005-06 stood at Rs 6,000 lakh.

The Bank has introduced a concept of customer delight by branding it as ''Bank in your pocket'' through mobile banking. At present HCBL is paying 50 per cent interest to senior citizens and army personnel on term deposits, Mr Kapoor added.

He further said that HCBL's thrust was customer fund safety and to invest the fund as per RBI directives. The Bank's advances were fully safe and its Net NPA was zero.

The Bank plans to expand its operations by opening new branches and ATMs in Lucknow.

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