Mumbai: Bharat Bank announces 15% Dividends to Shareholders during 38th AGM

By Rons Bantwal
Bellevision Media Network

Mumbai, 08 Jun 2014: The co-operative movement has taken the nation into surprise owing to the rapid growth of Bharat Co-operative Bank (Mumbai) Limited, a multi-state scheduled bank that has carved niche in financial sector.  With the collective efforts its possible to make Bharat Bank a premier institution in the country, said All India Billawa Federation president and Bharat Bank chairman Jaya C Suvarna.

 

Jaya was speaking during thirty-eight annual general body meeting of Bharat Bank at Brijavasi Palace banquet hall, Sonavane Road, Goregaon (East) here on Saturday June 7.

 

Billawar Association president L V Amin offered motion for the meeting on the occasion.

 

Jaya in his presidential addressing said that the Bank has got approval form RBI to open 15 branches in Maharashtra.  RBI has granted permission to open 2 branches in Karnataka at Kankanady in Mangalore and Ujire in Beltangady taluk, besides to open 3 new branches in Gujarat.  The application has been forwarded to RBI seeking to open further new 17 branches in other states across India.  The Bank owes the loyalty of bank customers and efficiency of both Board of Directors and staff to achieve this, said Jaya.

 

 

Jaya further said that the Bank has share capital of Rs 100.83 crore, reserves of Rs 453.71 crore, fixed deposit of Rs 4,980.18 crore, recurring deposit of Rs 95.57 crore, Bharat daily deposit of Rs 63.48 crore and achieved a turnover of Rs 6,483.68 crore.  It has loans and advances of Rs 4,549.05 crore, gross income of Rs 780.36 crore and net profit of Rs 105.50 crore, working capital of Rs 7,398.81 crore.  The Bank has been issued with A grade this year too, said Jaya.

 

Meanwhile, Jaya announced annual dividend of 15 percent to the Bank’s shareholders on the same occasion.

 

The Bank’s managing director and chief executive officer C R Mulky in his introductory address briefed on the Bank’s performance in the accounting year.  He further said that the Bank has already 41 branches in Maharashtra including those in Mumbai and Pune.  It has 14 branches in Karnataka, altogether the Bank has 55 branches so far, while 51 branches have ATM kiosks, said C R Mulky.

 

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

 

The Bank’s shareholders B G Nayak, chartered accountant Ramesh Shetty, G M Kotian, K P Shah, Prakash Agarwal, M Ramachandran, N M Sanil, Ramachandra H, Krishnaraj Kotian, Jayakar D Poojary, Shankar K Suvarna, K H Sahani, Kirti Suvarna, Prabhakar Shetty and C G Kashinat expressed their suggestions on the occasion.

 

The Bank’s deputy general managers Vivek N Shanbagh, Suresh S Salian, Shobha Dayanand, Nityanand D Kotian and Raghu Poojary, assistant general managers Vidyanand S Karkera, Vishwanat G Suvarna, Dinesh B Salian, Prabhakar G Suvarna, Navinchandra S Bangera and Kishore D Kotian, the Bank staff, branch managers were present.

 

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