The financial report for the year 2019-2020 of Hyderabad based Multi-State Scheduled Bank- A P Mahesh Cooperative Urban Bank has finally come out. Despite Covid-19, the bank has performed well on all the parameters but there is a slight decrease in the net profit. The bank crosses the business mix of Rs 4k crore.
The total business of the bank increased from Rs 3829.13 crore as on 31st March 2019 to Rs 4,140.06 crore in 2019-2020 FY registering a growth of 8.12 percent. The deposits of the bank have risen from Rs 2431.28 crore to Rs 2597.15 crore in 2019-2020 FY whereas the advances grew from Rs 1397.85 crore to Rs 1542.91 crore as on 31st March 2020, according to the financial figures revealed through the website of the bank.
The bank earned a net profit of Rs 41.18 crore, registering a decline of 3.15 percent. Earlier it was Rs 42.52 crore. The gross profit of the bank increased from Rs 54.43 crore to Rs 58.70 lakh.
The good thing is that this year also the net NPA of the bank remains at Zero. The gross NPA of the bank reduced from 3.54 percent to 3.38 percent. The CRAR and CD Ratio remains at 18.09 percent and 59.41 percent respectively.
Besides, in the 2019-2020 financial year, Lok Sabha speaker Om Birla had inaugurated the bank’s newly constructed building in posh Banjara Hills in Hyderabad, Telangana.
Earlier, the bank was embroiled in a legal controversy when some one from Andhra Pradesh had objected to creating the position of Chairman Emeritus in the Bank and filed a complaint with the Central Registrar. Ramesh Kumar Bung was the Chairman Emeritus at that time but now he has been made the Senior Vice-Chairman, according to the bank’s website.
The multi-state scheduled bank has 45 branches spread across Telangana, AP, Maharashtra and Rajasthan.
It bears recall that in order to help the state government fight against Covid-19, AP Mahesh Cooperative Urban Bank which is known as Mahesh Bank has contributed Rs 50 lakh towards the Telangana Chief Minister Relief Fund (CMRF).
