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Wednesday, Sep 24, 2003
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Cosmos Co-op to pay 15 pc

Our Bureau

PUNE: Cosmos Co-operative Bank, the multi-state schedule bank headquartered here, has declared a dividend of 15 per cent for financial 2002-03.

The bank, with an authorised capital of Rs 50 crore and a paid-up capital of Rs 34.37 crore, has reported a net profit of Rs 30 crore for the year. After appropriation of the profit, the bank's owned funds stand at Rs 278 crore.

According to the bank Chairman, Mr Madhukar Atre, Cosmos had succeeded in maintaining its stability and performance in a year in which Maharashtra's cooperative sector in general and cooperative banking in particular had been caught up in a "whirlwind of controversies."

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