Rons Bantwal
Daijiworld Media Network - Mumbai
Mumbai, May 19: The 37th annual general body meeting of Bharat Co-operative Bank (Mumbai) Limited, a multi-state scheduled bank was held at chairmanship of Vasudev R Kotian at Brijavasi Place Auditorium, Sonavane Road, Goregaon (East) here on Saturday May 18.
The bank’s former chairman and the present director Jaya C Suvarna offered motion for the meeting.
Vasudev Kotian in his presidential address said that despite the stiff-competition in banking sector, the bank has achieved 27.61 percent increase in fixed deposit and 27.59 percent in loans and advances. In spite of volatile global market and austerity measures in European Union countries, the Indian banking system maintained its stability and strong customer trust. The bank has achieved over 1,105 cr in terms of fixed deposits, over Rs 779 cr in loans and advances. It has maintained zero non-performing-assets for the successive four years. It has issued visa international debit cards to its customers. The customers and shareholders trust is further strengthened with steady growth in profits. It has been granted ‘A’ audit classification and likely to announce 15 percent dividend this year, said Vasudev.
Speaking on the occasion, Jaya C Suvarna said that the Bank that was promoted by metro based Billawar Association during 1978 will open one more branch in Mulky at Mangalore on May 30. It will open two more branches in the central suburb of Kurla and Dharavi shortly. The RBI has granted permission to open branches in eight districts of Gujarat. The bank has convened the annual general body meeting ahead of schedule that is the record of sort, said Jaya Suvarna.
The bank’s CEO and Mg director C R Mulky in his keynote address said that the bank has 13 branches in Karnataka, 39 branches in Maharashtra; altogether 52 branches already. It has installed 48 ATM kiosks. It has share capital of 84.01 cr as on 2012 -13. The reserve fund accounted to be over Rs 333.02 cr. The fixed deposits to the tune of Rs 374.67 cr, savings deposits to the tune of Rs 752.36 cr, working capital to the tune of Rs 459.04 cr, recurring deposits to the tune of Rs 86.50 cr. It has advanced loans to the tune of Rs 3,603.72 cr including Rs 61.10 cr in Bharat Dainik deposits during the financial year 2012 -13. It has achieved a total turnover of Rs 5,839.49 cr and profit before deducting taxes at Rs 622.66 cr with a net profit of Rs 85.58 cr. The staff strength is 893, said C R Mulky.
The Bank’s deputy chairman advocate Rohini J Salian, directors M B Kukyan, Pushpalata N Salian, Raja V Salian, Jyoti K Suvarna, M B Sanil, Y Nagesh, Mohan G Poojary, Chandrashekar S Poojary, Shankar D Poojary, Jagannat V Kotian, N Nityanand, Bhaskar M Salian, Ratan U Sanil, Rohit M Suvarna and Jaya A Kotian were present on the dais.
The bank’s customers chartered accountant Ramesh Shetty, Joseph Martis, Dr Rashid M Shah, B B G Nayak, Kirti Shah, Jayakar D Poojary, M Ramachandran, Ratanlal Patoria, H J Sahani, Chetan Mehta, N M Sanil, Padmanabha Poojary and shareholders expressed their suggestions for the progress of bank.
The bank’s founder president Varada Ullal, general manager Professor Shekar Poojary, deputy general managers Shobha Dayanand and Nityanand D Kotian, chief information officer Nityanand S Kirodian, assistant general managers Prabhakar G Suvarna, Navinchandra S Bangera, Mohandas Hejamady, Dinesh B Sanil, Kishore D Kotian, Ramesh Poojary, Vasudev M Salian, Nityanand S Karkera, Vishwanat G Suvarna, Nityanand Kirodian, top officers including staff were present.
The bank staff Yashodara D Poojary rendered the prayers. The chief general manager Anil Kumar R Amin proposed vote of thanks.