The Cosmos Co-Operative Bank Ltd., has earned net profit of Rs.45.86 crore as on March 31st, 2016, declared Chairman, CA Milind Kale. Kale informed this during the Annual General Meeting (AGM) of the Bank held recently in Pune.
The financial position of the Bank is strong and the reserves and other funds of the Bank stand at Rs.1,503.03 crore and Capital to Risk Assets Ratio (CRAR) is at a healthy 13.74%. For the last financial year, the Board of Directors have proposed 10% dividend, subject to Reserve Bank of India’s permission, which was approved by the Annual General Meeting, Kale underlined.
It was 110th Annual General Meeting (AGM) of the Bank which was conducted on Thursday, September 29th, 2016 at Shivshankar Sabhagruha, Maharshinagar, Pune. Managing Director, Vikrant Ponkshe enlightened the views of Cosmos Bank on this occasion.
For the Annual General Meeting, Vice Chairman, Madhukar Atre, Directors – Krishnakumar Goyal, Rajeev Sabade, Prakash Joshirao, Adv. Jayant Shaligram, Adv. Pralhad Kokare, Govind Kshirsagar, Dr. Smita Jog, Sunil Sabnis, Jitendra Shah and Joint Managing Director, Suhas Gokhale were present.
At the onset, Chairman, CA Milind Kale welcomed the shareholders and shared financial statistics with them. The Chairman informed that, as on 31st March 2016, total Deposits of the Bank stand at Rs.15,220 crore and Advances at Rs.11,150 crore.
The set-up of the Bank for the year 2015-16 has reached Rs. 26,370 crore. The paid up share capital of the Bank is Rs. 378.84 crore. Bank’s total investment has reached the figure of Rs. 4,890 crore while the working capital is Rs.17,649 crore, & C.D. Ratio is 73.26%.
Cosmos Bank has 81,676 members and more than 20 lac depositors and customers. Currently, total of 2,958 staff is working with the Bank.
Cosmos Bank is one of the oldest leading co-operative bank with, strong presence in 7 States through 140 branches.
