Mizoram Chief Minister’s Adviser Pu TBC Lalvenchhunga inaugurated the 31st branch and an ATM booth of the Mizoram Cooperative Apex Bank at Chawlhhmun, Aizawl on Wednesday.
Speaking at the event, Pu Lalvenchhunga expressed appreciation for the opening of the second Apex Bank branch in his constituency.
He emphasized the vital role the Apex Bank plays not only in generating employment for Mizos but also in offering loans that stimulate economic growth and development. He noted that the bank maintains one of the best Credit Deposit Ratios in the state, making it a trusted financial institution.
Apex Bank Chairman, Pu Lalnunsanga, also addressed the gathering, highlighting that the Apex Bank differs from other commercial banks as it is specifically established to support the agriculture sector and farmers.
He further noted that with the Mizoram government as a major shareholder, the bank truly belongs to the people of Mizoram. He added that the Apex Bank has been at the forefront of promoting the cooperative movement in the state and remains one of the most reliable institutions for providing quality loans.
It is worth mentioning that in FY 2024–25, the Mizoram Cooperative Apex Bank Ltd. recorded deposits of Rs 1,690 crore, with loan disbursement of Rs 1,217 crore. The bank also achieved a net profit of Rs 45 crore.