The leading urban cooperative bank of South India- Andhra Pradesh Mahesh Urban Cooperative Bank’s total business mix has come down from Rs 4,449 crore (2020-21) to Rs 3,794 crore in the 2021-22 FY.
It was revealed during the 46th Annual General Meeting of the bank held recently. The deposits of the bank decreased from Rs 2963 crore to Rs 2662 crore whereas advances declined from Rs 1486 crore to Rs 1132 crore as of 31st March 2022.
Besides, the bank earned a net profit of Rs 44.05 crore in the 2021-22 FY. The share capital and reserves stood at Rs 33.13 crore and 357 crore respectively. As of 31st March 2022, the bank’s net NPA stood at Rs 16.38 crore (1.56%). At the end of March 2022, the bank’s gross NPA was Rs 95.95 crore.
The bank’s own fund increased to Rs 390 crore from Rs 367 crore. The CRAR of the bank stood at 28.49 percent. The bank proposed a dividend of 15 percent prorata for the financial year, 2021-22.
During the year, the bank donated Rs 9.20 lakhs for various philanthropic activities. The bank also introduced RuPay “Open Loop Prepaid Cards”. These prepaid cards are reloadable in nature and can be operated over ATMs, e-Commerce & PoS. The bank also launched the Rupay Gift Card.
The bank also adopted new technologies and advanced banking tools to add value to its services and further strengthen the security measures for cyber security practices. AP Mahesh bank also entered an MoU with Go-Digit General insurance co ltd. for selling their health insurance products.
The multi-state scheduled bank has 45 branches spread across Telangana, AP, Maharashtra and Rajasthan.
Readers would recall that the cyber fraudsters hacked the bank’s server and siphoned off over Rs 12 crore. Later on, Hyderabad police arrested two Africans and a woman involved in the AP Mahesh Cooperative Bank e-fraud case