Speaking immediately after the 68th Annual General Meeting of the bank, the bank chairman Subhash Mohite expressed his resolve to take the business to Rs 2050 crore by the end of the current financial year.
He announced that the bank would give 12 percent dividend this fiscal, says a press release.
The bank, headquartered in Pune was established in the year 1952 for catering to the small traders and small businessmen.
It has never lost sight of this sector till date, said Adv. Mohite. The bank is catering to the three generations of account holders with great satisfaction. The bank has acquired most modern technology and is ready to cater to the needs of younger generations.
For the financial year 2018-19 the bank has registered total business of Rs.1800 crore and earned a profit of Rs 12.53 crore. It has made remarkable progress on all major parameters.
The bank has been able to restrict its NPAs, without cleaning the balance sheet by sale of assets to ARCs. It has a sound monitoring mechanism and an efficient Recovery Department.
Advocate Mohite, further stated that experienced, knowledgeable Board of Directors of the Bank has been successful in creating an atmosphere of enthusiasms. The entire staff works as a spirited team.
Periodical Training programs, rewards and the ambiance has helped the staff move ahead with a professional spirit, said Mohite.
Transparency of deals, affection towards customers, highest level of customer service and on top of all this the mindset of the directors to work as Trustees have made all the difference and opened up highways of progress to the bank, he underlined.