Mumbai: Bharat Bank holds 40th AGM; announces 15 % dividend to shareholders

By Rons Bantwal
Bellevision Media Network

Mumbai, 19 Jun 2016: Bharat Co-operative Bank (Mumbai) Limited that is promoted by Billawar Association Mumbai® held its 40th annual general body meeting at Brijavasi Palace banquet hall, Goregaon (East) here on Saturday June 18. 

 

Billawar Association Mumbai® president Nityanand D Kotian inaugurated the programme here on Saturday evening. The Bank chairman Jaya C Suvarna presided the programme.

 

Jaya Suvarna in his presidential address briefed about the added banking facilities that are offered by the Bank, aggressive expansion of branches and bright prospect for the Bank in the new accounting year. He also announced dividend of 15% to the shareholders on the same occasion.

 

 

The Bank managing director and CEO C R Mulky said that the Bank has share capital of Rs 181.66 crore, with reserves of Rs 720.77 crore, fixed deposit of Rs  7,277.45 crore, savings deposits of Rs 1,124.82 crore, provision of Rs 522.61 crore, recurring deposit of Rs 126.76 crore, Bharat Daily Deposit of Rs 66.07. The Bank has transacted business volume of Rs 9,177.71 crore, loans advances stood at Rs 6.033.68 crore, gross profit at Rs 1,092.86 crore and net profit of Rs 117.48 crore. The Bank has working capital of Rs 10,479.20 crore. The Bank was awarded ‘A’ grade by co-operative banks audit department of RBI.   

 

The shareholders advocate Sasidar Kaup, chartered accountant Ramesh Shetty, Prakash Agarwal, K T Raghunat, Kirit P Shah, Krishnaraj Kotian, R Pandian, Lalit R Shah, B G Nayak, Surekha Jadav, chartered accountant Kartik Iyer, Vinod Shetty, chartered accountant Ganesh Shetty, G M Kotian, Raja V Salian, M Ramachandran, Uday Chikle, N M Sanil, K H Sahani, K A Bangera and Srinivas Poojary shared their views.

 

Billawa Jagruti Balaga® vice president Purushottam S Kotian, Billawa Chamber of Commerce and Industry president N T Poojary, directors Mahendra Suru Karkera and Harish G Amin, Lonavala city mayor Surekha Jadav, corporator Sridar S Poojary, Thiya Samaj Mumbai® president Chandrashekar R Belchada, Okkaligara Seva Sangha Mumbai® president Rangappa C Gowda and shareholders, Bank customers, well wishers were present.

 

The Bank general manager Nityanand D Kotian, deputy general managers Mohandas Hejmady, Vidyanand Karkera, Vivek N Shanbagh, Raghu Poojary, Suresh S Salian, Prabhakar G Suvarna, Vishwanat G Suvarna and Dinesh B Salian, retired general manager Shobha Dayanand, top officers and heads of different branches were also present.

 

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

 

The meeting was concluded by singing National Anthem.