CBOA-AP CIRCULAR NO. 027 DATED 26TH JULY 2013

CBOA-AP issued its circular No. 027 dated 26^th July 2013 appealing to Centralites to rededicate for the cause of the bank. We are placing a copy of the same here for our readers..

CIRCULAR NO.: GS: 2013: 027                                           Date: 26.07.2013

TO ALL OFFICERS                                                    PLEASE CIRCULATE

Dear Friends,

IT’S TIME TO REPOSITION OURSELVES AND REDEDICATE FOR THE CAUSE OF THE BANK

By now all of you must be aware of the quarterly financial results declared by our bank. Though overall growth in deposits, advances and other parameters is satisfactory, heavy dip in the net profit certainly raises the alarm bells. Whatever may be the size of the business or growth thereof, ultimately profitability is the sole factor which decides the fate of any organisation and its workforce. We cannot remain aloof from this fact and our facilities, benefits etc. would have a bearing with this aspect.

Bank’s net profit for the quarter ending June 2013 is at a meager Rs.22.00 crores vis-à-vis Rs.336 crores of June 2012 recording a steep fall. You are aware that the profit levels have come down mainly due to increase in Gross NPA and the resultant provisions. Gross NPA increased from 4.87% to 6.03% for the quarter June 2013 on y-o-y basis. Similarly Net NPA increased from 3.22% to 3.85%. Both are at the highest levels in the industry.

We firmly believe in the principle of “NATION FIRST, ORGANISATION NEXT AND THE INDIVIDUAL LAST”. When the organisation is passing through difficult times albeit in the back drop of slowing economy, the need of the hour for the individuals is repositioning ourselves and rededicating for the cause of our esteemed bank with the aim of increasing the profitability and also reaching our golden goal of 500000 crore business. We certainly owe to this institution if we consider the fact that whatever we have today be it the dignity, social status etc. all have been only due to this great institution.

As our prospects are intertwined and interlinked with the prospects of the bank and its profitability, we appeal to all the CENTRALITES in general and the OFFICERS’ COMMUNITY in particular to put extra efforts in curbing the slippages and speed up the recovery of NPAs.

History tells us as to how CENTRALITES raised to the occasion in the past whenever required and came out victoriously. We are sure that this time also, all will raise to the occasion and respond to the need of the hour i.e. RECOVERY and come out victoriously.

Be that as it may, as a responsible trade union organisation, on behalf of Central Bank Officers’ Association, we once again appeal all of you to put wholehearted efforts for overall business improvement of the bank and with specific attention on recovery of NPAs with a sense of belongingness so that we will not only reach our golden goal of 500000 crore business but also attain comparable profit figures of peer banks.

Yours sincerely,

Sd/- 

(C.A. MALLIKARJUNA RAO)                     

GENERAL SECRETARY       

“RECOVERY” IS THE NEED OF THE HOUR

LET US DO IT WITH SENSE OF BELONGINGNESS