Maharashtra-based Pune Peoples’ Cooperative Bank has crossed the total business of more than Rs 2000 crore and earned a net profit of Rs 15.22 crore in the 2020-21 financial year. The bank has proposed a Dividend of 12% for the year 2020-21.
This was announced in the 70th Annual General Meeting of the bank that took place last week at Mahaveer Pratishthan, Pune in which Maharashtra State Cooperative Council Chairman Vidyadhar Anaskar was also present.
Established in 1952, the bank has 22 branches and 1 extension counter in the State of Maharashtra and Karnataka. The net NPAs of the Bank is less than 1%. Capital Adequacy, which is required to be at 9% as per RBI Directives, Pune People’s Bank has maintained it at quite a higher level of 14.11%., claims the press release sent by the bank.
“The deposits of the bank increased from Rs 1132 crore (2019-20 FY) to Rs 1251 crore in the 2020-21 FY whereas loans and advances rose from Rs 705 crore to Rs 761 crore as of 31st March 2021.
The Chairman of the Bank, Chartered Accountant Janardan Ranadive, conducted the meeting and answered all the queries of the members as regards the Balance sheet and about the future of cooperative banking.
On the occasion of the AGM, Vidyadhar Anaskar, an expert in banking was felicitated by the Chairman of the Bank for his appointment as the Chairman of the Maharashtra Cooperative Parishad, which is of the rank of State Minister.
In his address, Anaskar said, ” I have been in the Cooperative Banking Sector for 32 years working for the growth and progress of the sector. I have received tremendous encouragement from the Urban Cooperative Banks. I have taken up various problems of the sector with the appropriate authorities, and have raised the voice against a biased treatment given to the sector. The appointment to the State Cooperative Parishad is the outcome of my devoted work of three decades and the confidence reposed by Urban Banks in me”.
Anaskar also appreciated the progress made by Pune People’s Cooperative Bank and hoped that the Bank will make better progress in the future.
The bank has acquired advanced technology and has been providing modern services to the customers like Fund Transfer by RTGS/NEFT, ATM, SMS Alert, etc. With its devoted and trained staff, the Bank had ensured a seamless service to the customers even during the period of lockdowns.
The bank CEO Sadanand Dixit anchored and coordinated the meeting. Adv. Subhash Mohite, Director also spoke on the occasion and also proposed a vote of thanks.