Hundred year old Visakhapatnam Cooperative Bank in Andhra Pradesh has declared a dividend of 15 per cent this year. The bank will pay Rs. 18.67 crore towards dividend to its over sixty thousand members Reports Hindu.
A source said the bank would begin ATM services at all its 42 branches and soon increase its branch network to 50 covering all district headquarters. The bank plans to raise its turnover from Rs. 4000 crore to Rs. 6000 crore by 2020, the source said.
One of the bank’s functionaries said the cooperative bank expected to get scheduled bank status soon.