News and pics: Rons Bantwal
Daijiworld Media Network- Mumbai (EP)
Mumbai, June 9: Bharath Bank in its recently held general body meeting declared a dividend of 15% to its shareholders.
The cooperative movement has attracted the country and it is evident in Bharath Bank. Bharath Bank has achieved a milestone in the service of customers and has carved its place in the economic sector. Jaya C Suvarna, president of Billawa Maha Mandala and CEO of Bharath Bank called upon to make the bank as one of the leading banks in the country.
He was speaking at the 38th annual general body meeting of Bharath Cooperative Bank Mumbai Limited held at Brijvasi Palace hall on
Sonavani road at Goregaon east on Saturday June 7. Billawara assocation president L V Ameen lit the traditional lamp and set the general body meeting in motion.
Jaya Suvarna said that the RBI has permitted to open another fifteen branches all over Maharastra besides a branch in Kankanady in
Karnataka, two branches in Ujire and three branches in Gujarat. The bank has written to RBI requesting for approval for opening another 17 branches all over the country. "We were able to achieve the feat due to unstinting cooperation from customers and shareholders, cooperation from the staff beyond expectation and business," he said.
"The share capital of the bank is Rs 100.83 crores, reserve fund is Rs 453.71 crores, fixed deposits are Rs 4980.18 crores, saving deposits are Rs 861.96 crores, current funds Rs 480.48 crores, recurring deposits Rs 97.57 crores and bharath daily deposits Rs 63.48 crores," he said.
"The bank had an overall turnover of Rs 6,483.68 during the last year. Loans and advances were Rs 4,549.05 crores, gross income Rs 780.36 crores, Net profit was Rs 105.50 crores. Working capital was Rs 7,395.51 crores. Bharath bank is classified in A grade Audit
Classification and has gained the faith of customers and shareholders. The bank has declared a dividend of 15% for the last financial year," he added.
C R Mulki, Managing Director and Chief Executive of the bank welcomed the gathering and presented the profit and loss account and balance sheet. He said that the bank has 55 branches in the country including 41 branches in Maharastra and 14 in Karnataka and 51 branches have an ATM facility too.
The bank's deputy chief executive advocate Rohini J Salian, directors Vasudev R Kotian, M B Kukyan, Pushpalatha N Salian, Jyothi K Suvarna, K N Suvarna, J S Kotian, U S Poojary, Chandrashekar S Poojary, Rohith M Suvarna, J A Kotian, U S Poojary, Chandrashekar S Poojary, Rohith M Suvarna, K B Poojary, Bhaskar M Salian, Advocate S B Ameen, Gangadhar J Poojary, Harischandra G Mulky, R D Poojary, Ashok M Kotian, Suryakanth J Suvarna and C T Salian were on the dais.
Shareholders B G Nayak, C A Ramesh Shetty, G M Kotian, K P Shah, Prakash Agarwal, M Ramachandran, N M Sanil, Ramachandra H, Krishnaraj Kotian, Jayakar D Poojary, Shanker K Suvarna, K H Sahani, Kirthi Suvarna, Prabhakar Shetty and C G Kashinath spoke and expressed their opinion.
Hundreds of shareholders and well wishers gave their suggestions and wished the bank well. The bank's deputy general manager Vivek N Shanbhag, Suresh S Salian, Shobha Dayanand, Nityananda D Kotian, Raghu Poojary, assistant general managers Vidyananda S Karkera, Vishwanath G Suvarna, Dinesh B Salian, Prabhakar G Suvarna, Navinchandra S Bangera, Kishore D Kotian, other senior officials of the bank and heads of branches were present.
Bank employee Yashodhara D Poojary led the prayer while senior chief manager Anil Kumar R Ameen proposed the vote of thanks.