Mumbai: Bharat Bank convenes 39th AGM; announces 15% dividend to shareholders

By Rons Bantwal
Bellevision Media Network

Mumbai, 07 June 2015: Bharat Co-operative Bank (Mumbai) Limited lays higher emphasis on financial security of Bank’s customers. It has been awarded A grade for its financial excellence by competent authority and most trusted bank by its loyal customers. Its surging in progressive path announced 15 percent dividend to shareholders this year also, said Bharat Co-operative Bank (Mumbai) Limited chairman Jaya C Suvarna.

 

Jaya Suvarna was speaking during the thirty-ninth annual general body meeting of Bharat Co-operative Bank held at Brijavasi Palace banquet hall, Sonavane Road, Goregaon (East) here on Saturday June 6.

 

The Bank general manager Nityanand D Kotian offered motion for the annual general body meeting.

 

 

Jaya Suvarna further said that Bharat Bank performed well in this financial year. The Bank will open 10 branches in Maharashtra, Hubballi and Belagavi in Karnataka, Ahmedabad and Ankleshwar in Gujarat. The efficiency and dedication of Board of Directors of Bank and officers, staff has contributed for the Bank’s speedier growth, said Jaya.

 

The Bank managing director and CEO C R Mulky welcomed the gathering and briefed about the financial growth. The Bank has share capital of Rs 124.70 crore, reserves of Rs 563.80 crore, fixed deposit of Rs 6,077.60 crore, saving deposits of Rs 871.92 crore, current deposit of Rs 510.48, recurring deposit of Rs 131.16 crore, Bharat daily deposit of Rs 66.75 crore. It has recorded a total turnover of Rs 7,757.91 crore. The loans and advances stood at Rs 5,253.06 crore, gross income of Rs 975.40 crore and net profit of Rs 112.66 crore. The working capital touched Rs 8,864.82 crore, said C R Mulky.

 

The Bank deputy chairperson advocate Rohini J Salian, directors M B Kukyan, Vasudev R Kotian, advocate S B Amin, Chandrashekar S Poojary, Jyoti K Suvarna, C T Salian, Rohit M Suvarna, K N Suvarna, J A Kotian, U S Poojary, Harischandra G Mulky, Damodar C Kundar, R D Poojary, K B Poojary, Ashok M Kotian, Bhaskar M Salian, Gangadhar J Poojary and Suryakant J Suvarna were present at the dais.

 

The chartered accountant Ramesh Shetty, N M Sanil, S Agarwal, Sanjay Joshi, K Nagendra, Kirti J Shah, B G Nayak, Kanchan R Govind, S Krishnamurti, Uday Chittale, Krishnaraj Kotian, Dr Prabhakar Shetty, M D Pai, Padmanabha Poojary and others offered valuable suggestions on the occasion.

 

The Bank officer Yashodar D Poojary rendered the prayers. The Bank chief general manager Anil Kumar R Amin proposed vote of thanks.

 

The Bank top officer Shobha Dayanand, Vivek S Shanbagh, Raghu Poojary, Suresh S Salian, Prabhakar G Suvarna, Mohandas Hejmady, Vijayanand S Karkera, Vishwanat G Suvarna, Dinesh B Sanil, Nityanand S Kirodiyan, Navinchandra S Bangera, Ramesh H Poojary, Praveen Kumar S Suvarna, Vasudev M Salian, Jagdish Naryan, Mahesh B Kotian, Janardhan M Poojary, Satish M Bangera, Prabhakar G Poojary, U Dhananjay Kumar and Bank staff were also present.

 

The Bank chief general manager Anil Kumar R Amin proposed vote of thanks.