The Himachal Pradesh State Cooperative Bank (HPSCB) has become the first cooperative banking institution in the state to declare a 21 per cent dividend for its shareholders, marking a significant milestone in the cooperative banking sector.
The announcement was made at the bank’s 60th Annual General Meeting held in Shimla on Wednesday. The AGM was conducted under the chairmanship of Davender Shyam and witnessed active participation from the Board of Directors and 108 delegates representing shareholders.
The declaration of a record dividend reflects the bank’s strong financial performance, sound governance practices and sustained growth in business operations. Speakers at the meeting highlighted HPSCB’s focus on prudent lending, improved asset quality and customer-centric banking services, which have contributed to its consistent profitability.
The AGM also reviewed the bank’s performance during the past financial year and discussed future strategies aimed at further strengthening its role in supporting agriculture, small businesses and rural development in Himachal Pradesh.
The leadership of the bank acknowledged the contribution of its officers, employees and shareholders, stating that their collective efforts have positioned HPSCB as a national benchmark in cooperative banking.